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Announces Updates on Shares Repurchases
GRINDROD SHIPPING HOLDINGS LTD.
ABBREVIATED NAME: GRINSHIP
Registered in Singapore with registration number 201731497H
JSE Share code: GSH
ISIN: SG9999019087
Primary listing on NASDAQ Global Select Market
Secondary listing on the JSE Main Board
Grindrod Shipping Holdings Ltd. Announces Updates on Shares Repurchases
Grindrod Shipping Holdings Ltd. (NASDAQ: GRIN) (JSE: GSH) (“Grindrod Shipping” or "Company" or “it” or “we”),
a global provider of maritime transportation services predominantly in the drybulk sector, announced an
update on its share repurchases.
Pursuant to the Company's previously approved share repurchase authority and consistent with the Company’s
announced capital return policy, the Company has acquired a combined total of 108,818 ordinary shares in the
open market on NASDAQ and the JSE over the period from December 9, 2021 to December 17, 2021. The
repurchased shares were acquired at an average price per share of $15.20, or ZAR245.37 based on a ZAR/USD
exchange rate of 16.15, before costs, for a total consideration of $1.7 million.
Together with the previously disclosed repurchases of 591,673 shares, the Company has acquired a total of
700,491 shares for a total consideration of approximately $10.0 million during the fourth quarter of 2021. For
the year to date 2021, the combined total of shares repurchased amounts to 825,163 shares, or 4.3% of the
shares outstanding prior to the repurchases. The repurchased shares are currently held in treasury shares.
The timing and amount of any repurchases are in the sole discretion of the Company, and depend on legal
requirements, market conditions, stock price, alternative uses of capital and other factors. Repurchases of
ordinary shares may take place in privately negotiated transactions and/or open market transactions. The
repurchase authority expires at the next Annual General Meeting, unless renewed or varied or revoked by the
shareholders in a general meeting, and may be suspended or terminated by the Company at any time without
prior notice.
About Grindrod Shipping Holdings Ltd.
Grindrod Shipping operates a fleet of owned and long-term and short-term chartered-in drybulk vessels
predominantly in the handysize and supramax/ultramax segments. The drybulk business, which operates under
the brand “Island View Shipping” (“IVS”), includes a Core Fleet of 31 vessels consisting of 15 handysize drybulk
carriers and 16 supramax/ultramax drybulk carriers. The Company also owns one medium range product tanker
on bareboat charter. The Company is based in Singapore, with offices in London, Durban, Tokyo, Cape Town and
Rotterdam. Grindrod Shipping is listed on NASDAQ under the ticker “GRIN” and on the JSE under the ticker
“GSH”.
Forward-Looking Statements
The statements in this press release that are not historical facts may be forward-looking statements. The Private
Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in
order to encourage companies to provide prospective information about their business. The Company desires
to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is
including this cautionary statement in connection with this safe harbor legislation. The forward-looking
statements in this press release are based upon various assumptions, including, without limitation, Grindrod
Shipping management's examination of historical trends, data contained in the Company's records and other
data available from third parties. Although the Company believes that these assumptions were reasonable when
made, because these assumptions are inherently subject to significant uncertainties and contingencies which
are difficult or impossible to predict and are beyond the Company's control, the Company cannot assure you
that it will achieve or accomplish these expectations, beliefs or projections. These forward-looking statements
involve risks and uncertainties that could cause actual results to differ materially from those discussed in the
forward-looking statements. These risks and uncertainties include, among others, those discussed in Grindrod
Shipping's public filings with the SEC. Except as required by law, Grindrod Shipping undertakes no obligation to
update publicly or release any revisions to these forward-looking statements to reflect events or circumstances
after the date of this press release or to reflect the occurrence of unanticipated events.
Company Contact: Investor Relations / Media Contact:
Martyn Wade / Stephen Griffiths Nicolas Bornozis / Paul Lampoutis
CEO / CFO Capital Link, Inc.
Grindrod Shipping Holdings Ltd. 230 Park Avenue, Suite 1536
200 Cantonment Road, #03-01 Southpoint New York, N.Y. 10169
Singapore, 089763 Tel.: (212) 661-7566
Email: ir@grindrodshipping.com Fax: (212) 661-7526
Website: www.grinshipping.com Email: grindrod@capitallink.com
By order of the Board
23 December 2021
Sponsor: Grindrod Bank Limited
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Date: 23-12-2021 08:50:00
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