Sephaku Holdings Limited commences an Equity Buyback Plan for 25,448,644 shares, representing 10% of its issued share capital, under the authorization approved on September 18, 2023.

Sephaku Holdings Limited (JSE:SEP) commences share repurchases on December 9, 2023, under the program mandated by the shareholders in the Annual General Meeting held on September 18, 2023. As per the mandate, the company is authorized to repurchase up to 25,448,643 shares, representing 10% of its issued share capital. The repurchases may not be made at a price greater than 10% above the weighted average of the market value for the securities for the 5 business days immediately preceding the date on which the transaction is affected.

The authority shall be valid only until the next AGM or for 15 months from the date of the meeting, whichever period is shorter. As of September 8, 2023, the company had 254,486,436 shares in issue.