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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Brait | LSE:BTU | London | Ordinary Share | LU0011857645 | NPV(UK REG) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.00 | - |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:0928S Brait S.A. 14 November 2003 Brait S.A. Societe anonyme Incorporated under the laws of Luxembourg (R.C. Luxembourg B-13861) Share code: Brait ISIN: LU0011857645 ("Brait") REPURCHASE OF SHARES IN BRAIT 1. Introduction The board of Brait announces that Brait has acquired 6 451 613 shares in the issued share capital of Brait over the Luxembourg Stock Exchange for a purchase consideration of US$ 6 440 517 ("the general repurchase"). The general repurchase was effected in accordance with the Luxembourg Stock Exchange Regulations and under the general authority granted on 30 July 2003 at Brait's Annual General Meeting. The General repurchase comprises of 6.31% of the total issued share capital. 2. Implementation The general repurchase was made on 14 November 2003 at a price of 99.83 US cents (approximately 690 South African cents per share). It is Brait's intention not to cancel the shares acquired through the general repurchase and such shares will be kept as treasury stock. 3. Extent of general authority outstanding The extent of the general authority outstanding is approximately 3 773 960 shares, representing approximately 3.69% of Brait's share capital. 4. Sources of funds The general repurchase has been funded from available cash resources. 5. Opinion of Directors The Directors have considered the effect of the general repurchase and are satisfied that, for Brait and the Brait Group and for a period of 12 months from the date of this announcement: * they will be able, in the ordinary course of business, to pay their debts; * the assets will be in excess of the liabilities, having been recognised and measured in accordance with the accounting policies used in the audited financial statements for the year ended 31 March 2003; * the share capital and reserves will be adequate; and * the working capital and working capital resources will be adequate. 6. Financial effects The pro forma financial effects on the basic, headline, fully diluted basic and fully diluted headline earnings and net asset value per share before and after the general repurchase are set out below: Per share Notes Before After Change (US cents) (US cents) (%) Basic and fully diluted basic earnings 1,2 (4.0) (4.4) -8.7 Headline and fully diluted headline earnings 1,2 (4.0) (4.4) -8.7 Net asset value 3 106.8 107.3 0.5 Notes 1. The amount in the "Before" column represents the basic, headline, fully diluted basic and fully diluted headline earnings per share disclosed in the financial results for the six months ended 30 September 2003. The amounts in the "After" column represent the basic, headline, fully diluted basic and fully diluted headline earnings per share after the general repurchase on the assumption that the general repurchase was effected on 1 April 2003. 2. The amounts in the "After" column represent the basic, headline, fully diluted basic and fully diluted headline earnings per share after the general repurchase on the assumption that interest will no longer accrue to the company on the repurchase consideration at 1.05 % in US dollars per annum after tax. 3. The amounts in the "Before" column represent the net asset value per share as disclosed in the financial results for the six months ended 30 September 2003. The amounts in the "After" column represent the net asset value based on the financial results for the six months ended 30 September 2003 adjusted for the general repurchase, had it been effected on 1 April 2003. Luxembourg 17 November 2003 Sponsors: Brait Sponsors D & T Sponsors This information is provided by RNS The company news service from the London Stock Exchange END POSBSBDBRGBGGXS
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