TRANSPACO LIMITED - Proposed Specific Repurchase of Transpaco Ordinary Shares

Proposed Specific Repurchase of Transpaco Ordinary Shares

Transpaco Limited
(Incorporated in the Republic of South Africa)
(Registration number 1951/000799/06)
Share code: TPC
ISIN: ZAE000007480
(“Transpaco”)

Proposed Specific Repurchase Of Transpaco Ordinary Shares

1. Introduction and background

  Transpaco shareholders are advised that Transpaco has concluded an agreement with
  Manufacturers Investment Company (Pty) Limited in terms of which Transpaco will repurchase
  1 100 000 Transpaco ordinary shares for a cash consideration of R30 613 000 (the “Specific
  Share Repurchase”) that are held by Manufacturers Investment Company (Pty) Limited.


  The Specific Share Repurchase is not from a “related party” as defined in paragraph 10.1(b)(i)
  to (viii) of the JSE Limited (“JSE”) Listings Requirements.

2. Terms of the Specific Share Repurchase

  2.1. The Specific Share Repurchase will be undertaken at a price of R27.83 per Transpaco
       ordinary share which represents a 10.10% discount to the 30-business day weighted
       average traded price as at Friday, 1 September 2023, being the day before the Directors
       resolved to proceed with the Specific Share Repurchase.

  2.2. The Specific Share Repurchase is subject to the approval of Transpaco shareholders.

  2.3. The Transpaco ordinary shares proposed to be repurchased in terms of the Specific Share
       Repurchase (“Repurchased Shares”) represent 3.67% of the issued ordinary shares of
       Transpaco.

  2.4. Subsequent to the approval of the Specific Share Repurchase by shareholders, the
       Repurchased Shares will revert back to authorised but unissued ordinary shares in the
       ordinary share capital of the Transpaco and application will be made to the JSE for the
       delisting of the Repurchased Shares.
3. Impact of the Specific Share Repurchase

  3.1. The Specific Share Repurchase is for cash only and will therefore reduce Transpaco’s cash
       resources by R30 613 000 being the consideration for the Specific Share Repurchase.

  3.2. The Specific Share Repurchase will result in a decrease of Transpaco’s ordinary shares in
       issue by 1 100 000 ordinary shares.

4. Circular and general meeting

  A circular setting out the details of the Specific Share Repurchase and incorporating a notice
  of general meeting (the “Circular”), will be distributed to Transpaco shareholders in due
  course.

Wynberg
11 September 2023

Financial Advisor and Sponsor
Investec Bank Limited

Date: 11-09-2023 10:37:00
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