TRU - Partial Cancellation and Delisting of Compan
TRU
TRU
TRU - Partial Cancellation and Delisting of Company Shares
TRUWORTHS INTERNATIONAL LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1944/017491/06)
JSE Code: TRU
NSX Code: TRW
ISIN: ZAE000028296
("the Company")
PARTIAL CANCELLATION AND DELISTING OF COMPANY SHARES
The board of the Company advises that on 20 February 2007, the Company
cancelled and applied for the de-listing of 36 214 812 of its issued
ordinary shares.
These shares had been purchased from a subsidiary company on that date in
terms of the general authority granted by special resolution of the
shareholders taken at the annual general meeting held on 9 November 2006.
The purposes of the share purchase and cancellation are to restructure the
group`s balance sheet and enable the group to continue its treasury share
repurchase programme, which has had added significant shareholder value
over the past three years in terms of enhancing earnings and net asset
value per share.
The shares had been acquired by the subsidiary company during the 2002,
2003 and 2004 financial years, in accordance with the Company`s general
share repurchase programme.
The cancellation of the shares has no financial impact on the Company or
the group, save for the incurral of non-material transaction costs.
The shares cancelled represented 7.47% of the issued shares of the Company
prior to the cancellation, and following the cancellation the number of
shares in issue comprises 448 286 569 ordinary shares of 0.015 cent each.
By order of the board
Chris Durham
Company Secretary
Cape Town
21 February 2007
Lead Sponsor
Barnard Jacobs Mellet Corporate Finance (Pty) Ltd
Date: 21/02/2007 09:57:01 Produced by the JSE SENS Department.
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