10FY Arkle 2060

RNS Number:6168U
Genbel South Africa Ld
23 November 2000

                         GENBEL SOUTH AFRICA LIMITED

                     (Registration number 1949/032379/06)

                               ("the Company")

        ______________________________________________________________

                   Repurchase of shares on the open market

        ______________________________________________________________



Further to the announcement dated 10 November 2000, the Company has now
repurchased 1,971,900 (4,0%) of its own shares on the open market, of which
1,912,700 (3,9%) will be for cancellation, acting on the general authority
renewed by shareholders at the annual general meeting held on 12 October 2000
('the general authority').

In accordance with the Listings Requirements of the JSE Securities Exchange
South Africa, the Company discloses the following:

Repurchases of shares

___________________________________________________________________
  Total number of shares      6,429,443                 13,0% of the          
  purchased (since the                                  Company's share       
  commencement of the share                             capital in issue on   
  repurchase programme on                               the date of renewal   
  14 February 2000)                                     of the general        
                                                        authority             
  Number of shares            1,912,700                 3,9% of the Company's 
  purchased by the Company                              share capital         
  since 9 November 2000,                                                      
  which are to be cancelled                                                   
  Number of shares            59,200                    O,1% of the Company's 
  purchased through the                                 share capital         
  Company's subsidiary,                                                       
  Gensa Trading Limited                                                       
  since 9 November 2000                                                       
  Total value of shares       R32,796,355                                     
  purchased since 9                                                           
  November 2000                                                               
  Highest price paid since    1788 cents                                      
  9 November 2000                                                             
  Lowest price paid since 9   1620 cents                                      
  November 2000                                                               
  Period of repurchases       9 November 2000 - 22 November 2000              
  Number of shares which      1,992,362                 4,0% of the Company's 
  may still be repurchased                              share capital in      
  by the Group in terms of                              issue on the date of  
  the current general                                   renewal of the        
  authority                                             general authority     

Funds generated in the ordinary course of business were used to fund the share
repurchases.

Directors' statement

The directors have considered the effect of the repurchases and are of the
opinion that :


        1.     the ability of the Company and its subsidiaries to continue to
        pay their debt in the ordinary course of business will not be affected
        by the repurchases for the period of twelve months after the date of
        this announcement;

        2.     the assets of the Company and its subsidiaries will exceed
        their liabilities, measured in accordance with the accounting policies
        used in the Company's annual financial statements for the year ending
        30 June 2001;

        3.     the ordinary capital and reserves of the Company are adequate
        for the Company's requirements for the period of twelve months from
        the date of this announcement ; and

        4.     the working capital of the Company is adequate for the
        Company's requirements for the period of twelve months from the date
        of this announcement.

        Financial effects of the repurchase

Based on the Company's financial statements for the year ended 30 June 2000,
and assuming that the shares had been repurchased on 1 July 1999, the effect
on the earnings, headline earnings and net asset value per share would have
been as follows:

___________________________________________________________________

(cents per share)     Before the repurchases     After the repurchases %Change

_________________________________________________________________

Earnings and           79                                91           15,2%

Headline Earnings

Net asset value          2188                          2249           2,79%

___________________________________________________________________

Notes:


 1. The shares repurchased by the Company itself will be cancelled from the
    issued share capital of the Company and de-listed with immediate effect.

 2. The shares that were repurchased by the Company's wholly-owned subsidiary,
    Gensa Trading Limited, will not be cancelled as part of the issued share
    capital of the Company but will be retained.

 3. The earnings and headline earnings per share after the repurchases are
    based on the Company's issued share capital less shares repurchased.

 4. The total issued share capital, after repurchase, is 47,671,475 ordinary
    shares of 10 cents.



EH Verbeek     Johannesburg

Company Secretary     23 November 2000



London Secretaries, Project Consultants Limited,

Walnut House, Walnut Gardens, Claydon, Banbury,

Oxon OX17 1NA.





Investment bank

GENSEC

Gensec Bank Limited

(Registration number 1996/004744/06)



Sponsoring broker

CHASE

Member of the JSE Securities Exchange South Africa



Sponsoring broker in Namibia

HERBERT MAIER

Member of the Namibian Stock Exchange Trading as Chase

Arkle 2060 (LSE:10FY)
Historical Stock Chart
From Nov 2024 to Dec 2024

Arkle 2060 (LSE:10FY)
Historical Stock Chart
From Dec 2023 to Dec 2024