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STENPROP LIMITED- SHARE REPURCHASE PROGRAMME
Hamilton, Bermuda: 30 June 2016 – In a filing with the Bermuda Stock Exchange (“BSX”), Stenprop Limited (the “Company” or “Stenprop”; Ticker: STP.BH) announced their share repurchase programme. The filing stated:
Shareholders are advised that the company has entered into a share repurchase programme in terms of which the company may repurchase up to 57,336,376,of its ordinary shares, being 20% of the company’s issued share capital, pursuant to and in accordance with the authority granted by shareholders at the company’s annual general meeting held on 9 September 2015.
The repurchase programme commenced on Monday, 27 June 2016 and will extend to 14 September 2016, which period will include a prohibited period in respect of the publication of the company's quarterly results for the first quarter of the company’s financial year ending 31 March 2017, which are expected to be released on or about 15 September 2016.
In terms of the share repurchase programme, shares will be repurchased at a price not greater than 10% above the volume weighted average trading price of Stenprop shares over the 5 business days immediately preceding any particular repurchase.
The share repurchase programme may be discontinued at any time and the company has no obligation to repurchase any amount of shares under the programme.
The share repurchase programme is governed under the JSE Listings Requirements.
Stenprop has a dual primary listing on the Bermuda Stock Exchange and the Main Board of the JSE
30 June 2016
South African corporate advisor and JSE sponsor
JAVA CAPITAL
BSX sponsor
Estera Securities (Bermuda) Limited
www.stenprop.com
STENPROP LIMITED
(Incorporated in Bermuda)
(Registration number 47031)
BSX share code: STP.BH JSE share code: STP ISIN: BMG8465Y1093