Senwes advises shareholders that it will mandate an independent broking firm to effect the repurchase via a subsidiary of Senwes, of ordinary shares in Senwes (“Senwes Shares”) through ZAR X from 3 July 2019 until 31 March 2020, or until such time that the repurchase consideration has been expended, or 2,34% of the issued shares have been repurchased, whichever occurs first (“the Repurchase Programme”). The Repurchase Programme is being implemented in order to provide all shareholders with a value unlocking opportunity, at their voluntary election.
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While the GDP of agriculture drastically narrowed during the 2016/17 season, the Senwes group reflected an increase of 7,1% in net profit. The group announced a R167 million net profit for the financial year ended 30 April 2017.
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