Mustek has acquired a further 2 420 414 ordinary shares on the open market for a purchase consideration (including costs) in aggregate of R17 222 887,87.
The general repurchase was effected in terms of a general authority to Mustek’s directors, which was granted in terms of a special resolution passed by the members at Mustek’s Annual General Meeting on 2 November 2017 and comprises 3,1% of the total issued ordinary shares of Mustek at the date of the AGM.
Mustek does not hold any treasury shares.
The general repurchase commenced on 5 September 2018 and continued on a day-to-day basis as market conditions allowed and in accordance with the JSE Listings Requirements until 17 October 2018.
The company confirms that the repurchases were effected through the order book operated by the JSE and done without any prior understanding or arrangement between the company and the counter parties.
The highest and lowest prices paid by Mustek for the ordinary shares were 720 cents and 670 cents per share respectively.
The extent of the general authority outstanding is 10 812 645 ordinary shares, representing 13,86% of the total issued ordinary share capital of Mustek at the time the authority was granted.
The general repurchase has been funded from available cash resources.