Comparex has continued its share repurchasing programme, bringing the total amount spent on buying its shares to almost R822 million.
The group last published an update on the buyback programme in February, at which point it had spent R569.41 million on buying back about 16% of its issued share capital.
Of the 80.21 million repurchased shares, about 61.42 million were bought by a Comparex subsidiary which exchanged 29.51 million shares for shares in Comparex Africa Group as part of a recent deal with Persetel Q Data Africa Holdings.
As a result, 31.91 million Comparex ordinary shares, representing about 10% of the issued share capital, are held by a wholly owned Comparex subsidiary.
The shares purchased directly by Comparex are to be cancelled.
However, the shares held by the group`s subsidiary will not be cancelled, it says.
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