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Voluntary announcement - general repurchase of shares
JSE LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2005/022939/06)
Share Code: JSE
ISIN: ZAE000079711
LEI: 213800MZ1VUQEBWRFO39
("JSE" or "the Company" or "the Group")
VOLUNTARY ANNOUNCEMENT - GENERAL REPURCHASE OF SHARES
INTRODUCTION AND CONTEXT
JSE shareholders ("Shareholders") are referred to the paragraph titled "Cash
flows, investments and capital management" contained in the annual results
announcement for the year ended 31 December 2025, released on the Stock
Exchange News Service on Monday, 2 March 2026.
In accordance with the JSE's practice to return distributable cash to
shareholders after making appropriate provision for growth and investments,
working capital and regulatory capital requirements, the JSE board of
directors ("Board") approved an open-market general repurchase programme
("Share Repurchase") of JSE ordinary shares ("Shares") to be conducted in
accordance with the general repurchase authority granted by shareholders at
the annual general meeting ("AGM") of the JSE held on Wednesday, 13 May 2026
("General Repurchase Authority").
Shareholders are advised that the JSE has cumulatively repurchased 1 105 477
Shares, representing 1.28% of the Company's issued share capital, in
accordance with the General Repurchase Authority.
The Board considers the Share Repurchase to be an appropriate allocation of
surplus capital at this time and is complementary to the Company's dividend
and other capital allocation priorities.
DETAILS OF SHARE REPURCHASE
Salient details of the Share Repurchase are set out below:
Dates of the Share Repurchase Friday, 5 June 2026 to
Wednesday, 24 June 2026
Total number of Shares repurchased 1 105 477
Total value of Shares repurchased R174 999 886
Highest price paid per Share repurchased (cents per share) 16400
Lowest price paid per Share repurchased (cents per share) 14899
Number of shares that may still be repurchased by the Company 3 054 843
in terms of the General Repurchase Authority
Percentage of shares that may still be repurchased by the 3.67%
Company in terms of the General Repurchase Authority
Shares in issue at date General Authority was granted 86 355 491
Shares in issue currently 86 355 491
Number of issued Shares after delisting and cancellation of 85 250 014
repurchased shares
An application has been made to the JSE for the delisting of the 1 105 477
Shares repurchased by the Company, which delisting is expected to occur on
or about Friday, 3 July 2026. The Shares will thereafter be cancelled.
The Company holds 3 248 988 Shares as treasury shares, representing 3.81%
of the issued share capital of the Company as at the date of this
announcement, which holding is unchanged following the Share Repurchase.
COMPLIANCE WITH PARAGRAPH 7.90 OF THE JSE LISTINGS REQUIREMENTS
The Share Repurchase was effected through the order book operated by the JSE
trading system and done without any prior understanding or arrangement
between the Company and the counterparties.
No Shares were repurchased during a prohibited period.
STATEMENT BY THE BOARD
As at the date of this announcement, the Board confirms that, since the
solvency and liquidity test was performed, there have been no material
changes in the financial position of the Group.
SOURCE OF FUNDS
The Share Repurchase was funded from available internal cash resources.
IMPACT ON FINANCIAL INFORMATION
The Group's cash balances decreased by R176 100 643 (including fees) as a
result of the Share Repurchase. Share capital and share premium will reduce
by a similar amount, excluding value added tax.
The interest foregone on the cash required to effect the Share Repurchase
amounts to R9 699 774 after tax, assuming an average interest rate of 7.55%
earned in the previous financial period.
The Share Repurchase will have the effect of reducing the number of shares
in issue used for purposes of calculating the earnings per share and headline
earnings per share by 1 105 477 Shares in the financial year ending
31 December 2026.
The Board will, as a matter of course, continue to assess the most efficient
deployment of the Group's capital, factoring in the strategic investments
and capital allocation priorities.
Sandton
26 June 2026
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 26-06-2026 04:25:00
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