ERP.com Holdings has bought about 10.65 million of its own shares on the open market, representing 6.1% of its issued share capital.
The group says in a shareholder announcement that the total price of the shares amounted to R16.5 million.
The highest price paid was R1.55 and the lowest was R1.50. Yesterday the share closed at 150c on the JSE, up 2c or 1.4% from Tuesday`s close.
ERP.com is an investment holding company whose subsidiaries focus on the implementation, integration and management of enterprise-wide IT solutions in an e-business environment.
The group says the share acquisition is in terms of a general authority granted at the April annual meeting and adds that the repurchased shares, paid for from available cash resources, will be held as treasury shares.
In terms of the general authority, ERP.com is still allowed to repurchase another 23.8 million shares, or 13.5% of the group`s issued share capital.
Last month ERP.com reported headline earnings of 15.5c a share for the fiscal year to July, a 9.2% increase over the previous year.
Net profit was 10% higher at R25.98 million, compared with R23.69 million previously.
Cash on the balance sheet amounted to R70.31 million.
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