Ninety One plc
Ninety One Limited
Incorporated in England and Wales
Incorporated in the Republic of South
Africa
Registration number 12245293
Registration number 2019/526481/06
Date of registration: 4 October
2019
Date of
registration: 18 October
2019
LSE share code: N91
JSE share
code: NY1
JSE share code: N91
ISIN: ZAE000282356
ISIN:
GB00BJHPLV88
As part of the dual-listed company
structure, the boards of Ninety One plc and Ninety One Limited
(together the 'Board') notify both the London Stock Exchange and
the JSE Limited ('JSE') of matters which are required to be
disclosed under the FCA Disclosure Guidance and Transparency Rules
and Listing Rules of the United Kingdom Listing Authority (the
'UKLA') and/or the JSE Listings Requirements (the 'Listing
Requirements').
Ninety One Limited Ordinary Share
Buyback
Ninety One Limited (the 'Company')
advises that, at the close of business on 17 January 2025, it has
cumulatively repurchased 8,682,337 of the Company's ordinary shares
('Ordinary Shares') representing 3.049% of the issued Ordinary
Share capital as at the date of the general authority granted
by shareholders at the Company's annual general meeting held on 25
July 2024 ('General Authority').
The Ordinary Shares were repurchased
for an aggregate value of R332,484,972. Details of the repurchase
are set out in the table hereunder:
|
Repurchase period
|
Number and percentage of shares
repurchased
|
Highest repurchase price per share
(R)
|
Lowest repurchase price per share
(R)
|
Aggregate value (R)
|
Number and percentage of shares
outstanding in relation to the total shares under the General
Authority
|
|
07 August 2024 -
17 January 2025
|
8,682,337
3.049%
|
R39.25
|
R32.29
|
R332,484,972
|
19,793,143
6.951%
|
An application will be made to the
JSE to de-list 338,911 Ordinary Shares, at which point they will be
immediately cancelled. 8,343,426 Ordinary Shares have already been
cancelled. The Ordinary Shares remaining in issue following the
cancellation of the aforementioned shares amounts to 276,072,464.
The Company does not hold any treasury shares.
The impact of the repurchase of the
Ordinary Shares on the financial information of the Company is
immaterial. The Ordinary Shares were repurchased from excess
cash resources of the Company; going forward, no Ordinary Share
dividends will be payable on the repurchased Ordinary Shares and
interest earned on the cash utilised for the repurchases will be
foregone.
No shares were repurchased during
the Company's closed period from 01 October to 20 November 2024,
being the prohibited period as defined and stipulated in paragraph
5.72 of the Listings Requirements. The repurchases were made in
terms of the current General Authority effected through an order
book operated by the JSE and executed without any prior
understanding or arrangement between the Company and the
counterparties. Accordingly, the Company has complied with
paragraph 5.72(a) of the Listings Requirements.
Statement by the Board
The Board has considered the effect
of the repurchases and is of the opinion that, for a period of 12
months following the repurchases, the:
• Company and its subsidiaries (the 'Group') will be able, in
the ordinary course of business, to pay its debts;
• consolidated assets of the Company and the Group will be in
excess of the consolidated liabilities;
• share
capital and reserves of the Company and the Group will be adequate
for ordinary business purposes; and
• working capital of the Company and the Group will be adequate
for ordinary business purposes.
For enquiries please
contact:
Investor relations
Varuni
Dharma
varuni.dharma@ninetyone.com
+44(0) 203 938 2486
Date of release: 21 January
2025
JSE Sponsor:
J.P. Morgan Equities South Africa (Pty) Ltd
