Naspers Limited has provided an update on its ongoing share repurchase programme, aimed at acquiring both Prosus and Naspers shares from free-float shareholders. The programme, initiated on 27 June 2022, has seen significant activity in recent weeks.
Share Repurchase Details
For the period spanning 26 February 2024 to 1 March 2024, Naspers purchased 268,583 Naspers Shares. These shares were acquired at an average price of ZAR3,206.193 per share, amounting to a total consideration of ZAR861,128,938 (approximately US$44,893,901).
The following table summarizes the repurchase activity during the specified period:
| Date Range | Number of Naspers Shares Repurchased | Average Price per Share (ZAR) | Total Consideration (ZAR) |
|---|---|---|---|
| 26 February 2024 – 1 March 2024 | 268,583 | 3,206.193 | 861,128,938 |
Purpose and Compliance
The share repurchase programme is being conducted in accordance with Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse, as well as Commission Delegated Regulation (EU) 2016/1052 supplementing the Market Abuse Regulation.
In addition to meeting regulatory requirements, Naspers has voluntarily chosen to provide updates to its shareholders regarding the repurchase activity involving Naspers shares.
Financial Implications
The acquisition of Naspers shares underscores the company’s commitment to enhancing shareholder value and optimizing its capital structure. By repurchasing shares, Naspers aims to deploy its capital efficiently and signal confidence in its long-term prospects.
Conclusion
Naspers continues to execute its share repurchase programme diligently, with the recent acquisition of 268,583 Naspers shares. The company remains focused on delivering value to its shareholders while adhering to regulatory requirements.
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