REINET INVESTMENTS S.C.A. ANNOUNCES SHARE BUYBACK PROGRAMME

Reinet Investments SCA / Key word(s): Miscellaneous REINET INVESTMENTS S.C.A. ANNOUNCES SHARE BUYBACK PROGRAMME 24-March-2022 / 07:00 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement. Reinet Investments S.C.A. (the 'Company') announces today the commencement of a fifth share buyback programme (the 'programme'). Under the programme, commencing on 28 March 2022, the Company intends to purchase its shares at market price for an aggregate maximum amount of € 50 million subject to a maximum of 2.5 million shares over a period ending 3 June 2022 at the latest.

The purpose of the programme is to return value to the shareholders of the Company. Shares repurchased under the programme may be used for any legitimate purpose, such as consideration for acquisitions.

 

The programme will be executed on the Johannesburg Stock Exchange by an intermediary. The Company will not at any time have the right to instruct the intermediary to amend the parameters of the programme allowing the intermediary to execute share repurchases in the market during both open and closed periods.

 

The programme will be executed within the limits of the existing authority granted by the Company's shareholders at the annual general meeting held on 30 August 2021, including but not limited to the current limitation that the repurchase price must be at a price no more than an amount equal to 110% of the reference price of the ordinary shares on the relevant exchange; the reference price being the weighted average price of such ordinary shares during the five days of trading immediately prior to the acquisition of such shares. In addition, buybacks will not be at a price higher than the higher of the price of the last independent trade and the highest current independent bid on the Johannesburg Stock Exchange.