Santova Limited commences an Equity Buyback Plan for 32,272,209 shares, representing 24.19% of its issued share capital, under the authorization approved on July 24, 2023.

Santova Limited (JSE:SNV) commences share repurchases on October 26, 2023, under the program mandated by shareholders in the Annual General Meeting held on July 24, 2023. As per the mandate, the company is authorized to repurchase up to 32,272,209 shares, representing 20% of its issued share capital. The repurchases will not be made at a price greater than 10% above the weighted average of the market value for such securities for the five business days immediately pre-ceding the day the transaction is made.

Any such acquisition of ordinary shares will be effected through the order book operated by JSE trading system and done without any prior understanding or arrangement between the company and the counter party. The authority will be valid until the earlier of the next Annual General Meeting or fifteen months from the date of this Annual General Meeting. As of July 24, 2023, the company had 134,550,821 shares are issued including 1,113,344 treasury shares.