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AYO Tech Solutions (JSE:AYO) News - Prohibited Period Share Repurchase Programme
AYO TECHNOLOGY SOLUTIONS LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1996/014461/06
JSE share code: AYO
ISIN: ZAE000252441
("AYO" or "the Company")
PROHIBITED PERIOD SHARE REPURCHASE PROGRAMME
Shareholders are advised that AYO has, in compliance with paragraph 5.72(h)
of the Listings Requirements of the JSE Limited, established a share
repurchase programme (“Repurchase Programme”). The Repurchase Programme will
be implemented in accordance with the general authority to repurchase shares
granted by the Company’s shareholders at the annual general meeting held on
23 February 2021.
The period over which AYO will execute its Repurchase Programme will begin
on 1 September 2021 and will end on the earlier of 30 November 2021 or the
date of publication of its annual financial statements, whichever is the
longest period (the “Repurchase Programme Period”).
Shareholders are further advised that the maximum number of shares that can
be repurchased during the Repurchase Programme Period will be 68 824 789
ordinary shares if acquired by AYO and 34 412 394 if acquired by a subsidiary
of AYO.
Any repurchase of shares may not be executed at a price higher than 10% above
the volume weighted average trading price of an AYO ordinary share for the
five business days immediately preceding the date on which any such
repurchase is affected.
AYO has instructed Vunani Securities Proprietary Limited (“Vunani
Securities”), an independent third party, to execute the Repurchase
Programme.
Cape Town
31 August 2021
Joint Sponsor
Vunani Corporate Finance
Joint Sponsor
Merchantec Capital
Date: 31-08-2021 05:35:00
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