MultiChoice Group Limited (JSE Share Code: MCG) recently concluded a series of on-market purchases of ordinary shares through the MultiChoice Group Restricted Share Plan Trust (“Share Trust”). These acquisitions were carried out to fulfill the company’s obligations under the MultiChoice Group Restricted Share Plan.
Over the course of four consecutive days, from 19 June to 22 June 2023, the Share Trust successfully acquired a total of 895,882 ordinary shares. The transactions were executed at prevailing market prices, and the details of each purchase are as follows:
- On 19 June 2023, the Share Trust purchased 151,093 ordinary shares at a price of R92.8378 per share, resulting in a total value of R14,027,141.72.
- On 20 June 2023, an additional 219,400 ordinary shares were acquired by the Share Trust at a price of R94.8171 per share, with a total value of R20,802,871.74.
- Continuing on 21 June 2023, the Share Trust made a further on-market purchase of 191,433 ordinary shares at a price of R92.7213 per share, totaling R17,749,916.62.
- Finally, on 22 June 2023, the Share Trust concluded its acquisition spree by purchasing 333,956 ordinary shares at a price of R90.9877 per share, amounting to R30,385,888.34.
These transactions were conducted in compliance with the JSE Limited Listings Requirements, and the necessary clearance was obtained as per paragraph 3.66 of the regulations. The Share Trust’s direct beneficial interest in these securities allows it to fulfill its obligations within the framework of the MultiChoice Group Restricted Share Plan.
The MultiChoice Group Restricted Share Plan Trust plays a vital role in MultiChoice’s compensation and retention strategy for its employees. By procuring these ordinary shares, the Share Trust ensures its ability to meet its obligations under the MultiChoice Group Restricted Share Plan, which aligns the interests of employees and shareholders in the company’s long-term success.