Repurchase of Shares
(Incorporated in the Republic of South Africa)
(Registration number 2016/216015/06)
Share code: L4L ISIN: ZAE000243119
("Long4Life" or “the Company” or “the Group”)
REPURCHASE OF SHARES
In terms of paragraph 5.79 and 11.27 of the Listings Requirements of the JSE Limited, shareholders are
advised that the Company has purchased 40 million of its own ordinary shares being 4,66% of the
Company’s issued share capital as at the time of the general authority granted by shareholders at the
Company’s annual general meeting held on 1 July 2020 (the “General Repurchase”).
In terms of the general authority granted by shareholders at the Group’s annual general meeting held on
1 July 2020, the Group had the authority to buy back 171,7 million shares of which 40 million shares have
been repurchased to date, leaving a balance of 131,7 million shares, representing 15,34% of the
Company’s issued share capital as at the time of the general authority was granted by shareholders, which
the Group may still repurchase.
The General Repurchase was effected through the order book operated by the JSE trading system without
any prior arrangement between Long4Life and the counter parties. No shares were repurchased during
any prohibited period. The General Repurchase will be funded from available cash resources.
Dates of General Repurchase: 20 July 2020
Average price paid per share: R2,75
Lowest price paid per share: R2,75
Highest price paid per share: R2,75
Number of shares repurchased: 40 000 000
Total value of Shares repurchased: R110 million
Number of treasury shares (after the General Repurchase): 100 243 385
The company will apply to the JSE Limited to have the shares acquired on 20 July 2020 cancelled.
2. STATEMENT BY THE DIRECTORS
The board of directors of Long4Life confirm that, after considering the effect of the General Repurchase,
for a period of 12 months after the date of this announcement:
- The Company and its subsidiaries will be able to pay its debts in the ordinary course of business.
- The assets of the Company and the Group will be in excess of the liabilities of the Company and the
Group. For this purpose, the assets and liabilities were recognised and measured in accordance with the
accounting policies used in the latest audited annual Group financial statements.
- The share capital and reserves of the Company and the Group will be adequate for ordinary business
- The working capital of the Company and the Group will be adequate for ordinary business purposes.
- The Company and the Group have passed the solvency and liquidity test and since the test was
performed, there have been no material changes to the financial position of the Group.
3. IMPACT OF THE GENERAL REPURCHASE ON THE FINANCIAL INFORMATION OF THE COMPANY
The Company’s cash balances will decrease by R110 million as a result of the General Repurchase.
21 July 2020
Sponsor: The Standard Bank of South Africa Limited
Date: 21-07-2020 02:30:00
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