Altron Limited’s Directors’ Associates Make Major Share Purchases, Demonstrating Confidence in Company’s Future

Altron Group
  • Associates of two non-executive directors of Altron Limited, Mr. AC Ball and Mr. TR Ngara, have made significant on-market share purchases.
  • The transactions were conducted by Value Capital Partners (Pty) Ltd, in which the directors have an indirect beneficial interest.
  • The total value of the share purchases amounts to approximately R30 million, reflecting confidence in Altron’s future performance.

Altron Limited has announced significant on-market share purchases made by associates of two of its non-executive directors. The transactions were conducted in accordance with the Listings Requirements of the JSE Limited and are in compliance with paragraphs 3.63 – 3.74.

The directors involved in the share purchases are Mr. AC Ball and Mr. TR Ngara, both of whom hold non-executive positions on Altron’s board. The transactions were executed by an associate, Value Capital Partners (Pty) Ltd, in which the directors have an indirect beneficial interest.

The first transaction took place on 6 June 2023, with Value Capital Partners purchasing a total of 2,572,637 Altron A ordinary shares. The lowest and highest prices per security during this transaction were recorded at R7.75 and R8.00, respectively, with a volume-weighted average price (VWAP) of R7.9665. The total value of this transaction amounted to approximately R20,494,912.67.

On 7 June 2023, another on-market purchase of Altron A ordinary shares was made by Value Capital Partners, this time acquiring 1,189,253 shares. The lowest and highest prices per security during this transaction were reported at R7.90 and R8.13, respectively, with a VWAP of R8.0182. The total value of this transaction was approximately R9,535,668.41.

It is important to note that the nature of these transactions was an on-market purchase of securities, and the interests of Mr. AC Ball and Mr. TR Ngara in Value Capital Partners are indirect and beneficial. Clearance to conduct these transactions was obtained, ensuring compliance with the necessary regulations.

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