Sishen Iron Ore Company Proprietary Limited, a major subsidiary of Kumba Iron Ore Limited, has recently disclosed significant on-market purchases of ordinary shares as part of its Bonus and Retention Share Plan (BRP). The transactions, made in compliance with the Listings Requirements of the JSE Limited, demonstrate the company’s commitment to rewarding its participants and settling share awards.
A summary of the transactions conducted by Sishen Iron Ore Company Proprietary Limited is as follows:
| Date | Number of Securities | Avg. Weighted Purchase Price per Share (R) | Highest Price per Share (R) | Lowest Price per Share (R) | Total Transaction Value (R) |
|---|---|---|---|---|---|
| 26 February 2024 | 43,901 | 536.5281 | 538.82 | 529.50 | 23,554,120.12 |
| 27 February 2024 | 23,204 | 544.8388 | 545.20 | 540.29 | 12,642,439.52 |
These purchases, totaling R36,196,559.64, were executed directly for the benefit of participants involved in the BRP.
The acquisitions of ordinary shares by Sishen Iron Ore Company Proprietary Limited were carried out to fulfill the share awards granted under the BRP. The BRP, approved by shareholders during the Annual General Meeting held on 10 May 2019, aims to incentivize and retain key personnel within the company.
The recent share purchases by Sishen Iron Ore Company Proprietary Limited underscore the company’s commitment to its Bonus and Retention Share Plan and its dedication to rewarding and retaining key personnel. These transactions reflect a strategic initiative aimed at driving long-term value and ensuring the continued success of the company and its stakeholders.
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