MultiChoice Group Limited (JSE: MCG) announced today that it has successfully fulfilled its obligations under the MultiChoice Group Restricted Share Plan through a series of on-market share purchases. The transactions were conducted by the MultiChoice Group Restricted Share Plan Trust and were in compliance with the JSE Limited Listings Requirements.
On 23 June 2023, the MultiChoice Group Restricted Share Plan Trust acquired 487,000 ordinary shares at a purchase price of R92.2489 per share, totaling R44,925,214.30. This was followed by the purchase of an additional 520,393 ordinary shares on 26 June 2023, at a price of R92.1008 per share, amounting to R47,928,611.61. On 27 June 2023, the trust acquired 310,173 ordinary shares at a purchase price of R92.0504 per share, with a total value of R28,551,548.72. Finally, on 28 June 2023, the trust completed the purchase of 437,470 ordinary shares at a price of R94.1121 per share, totaling R41,171,220.39.
The MultiChoice Group Restricted Share Plan Trust holds a direct and beneficial interest in the acquired ordinary shares, ensuring compliance with the obligations outlined in the MultiChoice Group Restricted Share Plan.
MultiChoice Group Limited, a leading entertainment company in South Africa, offers a wide range of video entertainment services, including pay television, video on demand, and online streaming platforms. The company is dedicated to providing exceptional content and experiences to its customers across multiple platforms.
In a separate important notice, MultiChoice highlighted a provision in its memorandum of incorporation that allows for the reduction of voting rights for shares in the company. The provision aims to ensure compliance with statutory requirements applicable to South Africa, specifically limiting the aggregate voting power of MultiChoice shares presumptively owned or held by foreigners to South Africa to 20% of the total voting power in the company.
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