- October 3, 2013
- Posted by: admin
- Category: SENS Announcements
HCI shareholders are referred to the announcement released on SENS on 17 May 2013 and the circular to shareholders dated 21 June 2013 (“Circular”) regarding the repurchase of HCI ordinary shares (“HCI Shares”) from the Southern African Clothing and Textile Workers Union (“SACTWU”) (“the Specific Repurchase”). Following the fulfillment of all of the conditions precedent, HCI has implemented the
Specific Repurchase in respect of the maximum number of 15,824,300 HCI shares as set out in the Circular.
In order to ensure that, following the Specific Repurchase, HCI subsidiaries do not hold treasury shares in excess of 10% of the issued share capital of the Company, HCI has cancelled 7 186 943 HCI Shares with
effect from 30 September 2013 and de-listed these HCI Shares from the JSE Limited with effect from 3
These cancelled HCI Shares were acquired as follows:
• 6 651 943 HCI Shares in terms of the Specific Repurchase referred to above, which was approved by
HCI shareholders at the general meeting on 22nd July 2013; and
• 535 000 HCI Shares from share repurchases on the open market in terms of the general authority
granted to the Company by its shareholders at the annual general meeting on 29 October 2012.
The cancellation of these HCI Shares has no financial impact on the headline earnings per HCI Share
(diluted and undiluted) and earnings per HCI Share (diluted and undiluted) of the Company.
The HCI Shares cancelled represent 5.66% of the issued share capital of the Company immediately prior
to such cancellation. Following the cancellation, the issued share capital of the Company will now
comprise of 119 869 367 ordinary shares of 25 cent each with subsidiaries of HCI holding 11 000 000
HCI Shares as treasury shares.
3 October 2013