Transaction in Own Shares

Ninety One PLC

21 January 2025

 

Ninety One plc                                                                                                        Ninety One Limited                                                                         

Incorporated in England and Wales                                                                Incorporated in the Republic of South Africa                                        

Registration number 12245293                                                                         Registration number 2019/526481/06                                

Date of registration: 4 October 2019                                                              Date of registration: 18 October 2019                                                         

LSE share code: N91                                                                                             JSE share code: NY1                                                                         

JSE share code: N91                                                                                              ISIN: ZAE000282356

ISIN: GB00BJHPLV88                                                                                             

As part of the dual-listed company structure, the boards of Ninety One plc and Ninety One Limited (together the 'Board') notify both the London Stock Exchange and the JSE Limited ('JSE') of matters which are required to be disclosed under the FCA Disclosure Guidance and Transparency Rules and Listing Rules of the United Kingdom Listing Authority (the 'UKLA') and/or the JSE Listings Requirements (the 'Listing Requirements').

Ninety One Limited Ordinary Share Buyback

Ninety One Limited (the 'Company') advises that, at the close of business on 17 January 2025, it has cumulatively repurchased 8,682,337 of the Company's ordinary shares ('Ordinary Shares') representing 3.049% of the issued Ordinary Share capital  as at the date of the general authority granted by shareholders at the Company's annual general meeting held on 25 July 2024 ('General Authority').

The Ordinary Shares were repurchased for an aggregate value of R332,484,972. Details of the repurchase are set out in the table hereunder:

Repurchase period	Number and percentage of shares repurchased	Highest repurchase price per share (R)	Lowest repurchase price per share (R)	Aggregate value (R)	Number and percentage of shares outstanding in relation to the total shares under the General Authority
07 August 2024 - 17 January 2025	8,682,337 3.049%	R39.25	R32.29	R332,484,972	19,793,143 6.951%

An application will be made to the JSE to de-list 338,911 Ordinary Shares, at which point they will be immediately cancelled. 8,343,426 Ordinary Shares have already been cancelled. The Ordinary Shares remaining in issue following the cancellation of the aforementioned shares amounts to 276,072,464. The Company does not hold any treasury shares.

The impact of the repurchase of the Ordinary Shares on the financial information of the Company is immaterial.  The Ordinary Shares were repurchased from excess cash resources of the Company; going forward, no Ordinary Share dividends will be payable on the repurchased Ordinary Shares and interest earned on the cash utilised for the repurchases will be foregone. 

No shares were repurchased during the Company's closed period from 01 October to 20 November 2024, being the prohibited period as defined and stipulated in paragraph 5.72 of the Listings Requirements. The repurchases were made in terms of the current General Authority effected through an order book operated by the JSE and executed without any prior understanding or arrangement between the Company and the counterparties. Accordingly, the Company has complied with paragraph 5.72(a) of the Listings Requirements.

Statement by the Board

The Board has considered the effect of the repurchases and is of the opinion that, for a period of 12 months following the repurchases, the:

•      Company and its subsidiaries (the 'Group') will be able, in the ordinary course of business, to pay its debts;

•      consolidated assets of the Company and the Group will be in excess of the consolidated liabilities;

•      share capital and reserves of the Company and the Group will be adequate for ordinary business purposes; and

•      working capital of the Company and the Group will be adequate for ordinary business purposes.

For enquiries please contact:

Investor relations

Varuni Dharma                                                     [e-mail]                                      [phone]

Date of release:   21 January 2025

JSE Sponsor:       J.P. Morgan Equities South Africa (Pty) Ltd

 

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