REG - Ninety One PLC - Transaction in Own Shares

Ninety OneAnnouncement

21/01/2025 07:00

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RNS Number : 0079U  Ninety One PLC  21 January 2025

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 -   8,682,337                                    R39.25                                  R32.29                                 R332,484,972         19,793,143

 17 January 2025    3.049%                                                                                                                                           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 (mailto: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

 

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