20 Aug - 2 min read

Update on the Company's share repurchases and conclusion of the general repurchase of shares

Update on the Company's share repurchases and conclusion of the general repurchase of shares

(Incorporated in the Republic of South Africa)
(Registration number 2008/015990/06)
(“NVest” or “the Company”)
ISIN Code: ZAE000199865 JSE Code: NVE



The Company, in accordance with the general authority granted by shareholders at the
Company’s annual general meeting held on 17 August 2020 and further to the voluntary
announcement made by NVest on 31 May 2021 advising of the intention of the Company to
repurchase up to 20% of the ordinary shares (“shares”) in issue at that time, commenced a
repurchase of its shares on Monday 21 June 2021 (“the Repurchase”).

The rationale for the Repurchase was that the Group had surplus capital reserves and a
repurchase of shares at certain volumes and values would be accretive to the business.


The Company has cumulatively repurchased 57 298 908 NVest shares in the aggregate,
representing 18,896% of the Company's issued share capital upon commencement of the

The Company’s cash balance has decreased by R120 314 392.98 as a result of the
Repurchase and the Repurchase will have the effect of reducing the number of shares in
issue used for purposes of the net asset value per share, earnings per share and headline
earnings per share to 57 298 908. Application to have the remaining balance of the
repurchased shares delisted is in the process of being submitted to the JSE.

NVest shareholders are now advised that the Company has exited the market and
concluded the Repurchase.

East London
20 August 2021

Designated Advisor
AcaciaCap Advisors Proprietary Limited

Date: 20-08-2021 04:30:00
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