Argent Industrial Limited commences an Equity Buyback Plan for 11,211,241 shares, representing 20% of its issued share capital, under the authorization approved on August 18, 2023.

Argent Industrial Limited (JSE:ART) commences share repurchases on December 12, 2023, under the program mandated by the shareholders in the Annual General Meeting held on August 18, 2023. As per the mandate, the company will repurchase up to 11,211,241 shares, representing 20% of its issued share capital. The shares will not be repurchased at a price greater than 10% above the weighted average price of the market value of the shares as determined over the five business days immediately preceding the date on which the repurchase is made.

The program shall expire at the conclusion of the next Annual General Meeting in 2024, or 15 months whichever is earlier. As at August 18, 2023, the company has 56,056,203 shares in issue.