Shareholders of Senwes are hereby advised that a reasonable degree of certainty exists that the normalised headline earnings for the six months ended on 31 October 2023 will be materially higher than for the previous comparable period. The normalised headline earnings are expected to be between 20% to 25% higher than the previous comparable period.
26 October 2023
Senwes hereby wish to notify shareholders of the results of the Repurchase programme (hereinafter referred to as “the Programme”) launched on 29 June 2023, as amended by notice dated 18 October 2023. The Programme was offered in terms of the general authority granted by shareholders at the annual general meetings on respectively 24 August 2022 and 22 August 2023.
The board of directors of the Company (“Board”) approved a final cash dividend for the year ending 30 April 2023 of 29 cents (twenty-nine cents) per ordinary Agribel share and a special dividend of 25 cents (twenty-five cents) per ordinary Agribel share, a total dividend payment of 54 cents (fifty-four cents) per ordinary share (“cash dividend”) on the record date, being 08:00 on 22 August 2023 (“record date”).
On 17 October 2023, the Senwes Board of directors approved an amendment to the Repurchase Programme to increase the purchase consideration per Senwes share to R19,83 as well as the number of shares to be repurchased. The maximum aggregate amount that will be paid as the repurchase consideration in terms of the Repurchase Programme will be R200 million, regardless of the number of Senwes shares repurchased. The maximum aggregate number of Senwes shares repurchased, regardless of the aggregate repurchase consideration paid, will be equal to 5,6% (five comma six percent) of the total issued capital. The Repurchase programme opens 20 October 2023.
Shareholders of Senwes Limited (“Senwes”) are hereby advised that a reasonable degree of certainty exists that the normalised headline earnings for the six months ending 31 October 2023 (“interim period”) will be materially higher and are expected to be more than 12% (twelve percent) higher than the previous comparable period.