| Fri 15 May 2026, 8:01 | | TSOGO SUN LIMITED - General repurchase of ordinary shares |
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General repurchase of ordinary shares
TSOGO SUN LIMITED
Incorporated in the Republic of South Africa
Registration number: 1989/002108/06
Share code: TSG
Alpha Code: TSGI
ISIN: ZAE000273116
("Tsogo Sun" or "the Company")
GENERAL REPURCHASE OF ORDINARY SHARES
1. INTRODUCTION
Further to the Company's General Repurchase of Ordinary Shares announcement dated 17
February 2026 ("First General Repurchase"), and in compliance with paragraph 7.90 of the
Listings Requirements of JSE Limited ("JSE"), the board of directors of Tsogo Sun (the "Board")
hereby advises shareholders that, in accordance with the general authority granted by
shareholders at the Company's annual general meeting ("AGM") held on Friday, 29 August 2025
("General Authority"), Tsogo Sun has repurchased an additional 39 798 060 of its ordinary
shares ("Second General Repurchase"), such that the Company has now cumulatively
repurchased 72 309 214 of its ordinary shares, representing 6.94% of the Company's issued
share capital as at the date of the AGM.
2. DETAILS OF THE SECOND GENERAL REPURCHASE
Dates of the Second General Repurchase: 23 March 2026 to 14 May 2026
Number of ordinary shares repurchased: 39 798 060
Lowest price paid per ordinary share: R6.66
Highest price paid per ordinary share: R7.05
Average price paid per ordinary share: R6.962
Total value of ordinary shares repurchased: R277 075 323.00
Remaining extent of authority outstanding 84 080 308 ordinary shares (representing
after the Second General Repurchase: 8.06% of the Company's ordinary shares in
issue on 29 August 2025, being the date on
which the General Authority was granted by
shareholders)
The Second General Repurchase was effected through the order book operated by the JSE,
without any prior understanding or arrangement between the Company and the counter
parties.
The Second General Repurchase was partly conducted during a prohibited period pursuant to a
repurchase programme entered into prior to the commencement of the prohibited period, full
details of which repurchase programme were submitted to the JSE in accordance with the
Listings Requirements of the JSE.
Pursuant to the General Authority, 62 309 214 of the 72 309 214 shares in the Company,
cumulatively repurchased in terms of the First Repurchase and the Second Repurchase, have
been delisted and cancelled. A further application will be submitted to the JSE for a delisting and
cancellation of the remaining 10 000 000 repurchased shares, which delisting and cancellation
is expected to occur on or about Wednesday, 20 May 2026.
Tsogo Sun has no treasury shares as defined in the Listings Requirements of the JSE.
3. SOURCE OF FUNDS
The Second General Repurchase has been funded from available cash resources.
4. STATEMENT BY THE DIRECTORS
The Board has considered the effect of the Second General Repurchase and is of the opinion
that the Company and the group have passed the solvency and liquidity test, and since the test
was performed, there have been no material changes in the financial position of the group.
5. IMPACT OF THE SECOND GENERAL REPURCHASE ON FINANCIAL INFORMATION
The Second General Repurchase and related transaction costs have had no material impact on
the financial information of the Company and will result in a decrease in the Company's cash
balances corresponding to the approximate value of the shares repurchased pursuant to the
Second Repurchase.
FOURWAYS
15 May 2026
EQUITY SPONSOR:
Investec Bank Limited
DEBT SPONSOR:
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
www.tsogosun.com
Date: 15-05-2026 08:01:00
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