Zenith Car Rental (Pty) Ltd has recently made substantial purchases of Zeda’s ordinary shares as part of the Zeda Long-Term Incentive Plan. The transactions, executed over three consecutive days, reflect the company’s commitment to rewarding its employees and enhancing long-term shareholder value.
In a series of strategic moves, Zenith Car Rental (Pty) Ltd, a subsidiary of South African entity Zeda Limited, has undertaken a sequence of significant share purchases that spotlight the organization’s dedication to nurturing its long-term incentive framework. These transactions, executed between August 22 and August 24, 2023, highlight the company’s focus on promoting employee loyalty and bolstering shareholder prosperity.
The purchases, carried out on the Johannesburg Stock Exchange (JSE), are in alignment with the Zeda Long-Term Incentive Plan, an initiative that seeks to enhance employee retention and motivation by offering them a stake in the company’s growth trajectory. These transactions, as per regulatory compliance under paragraphs 3.63 to 3.74 of the JSE Listings Requirements, have been meticulously documented and disclosed to shareholders.
Table: Share Purchase Transactions
| Date | Number of Securities | Average Price per Security (R) | Highest Price per Security (R) | Lowest Price per Security (R) | Value of Transaction (R) |
|---|---|---|---|---|---|
| August 22, 2023 | 70,626 | 11.7480 | 11.80 | 11.65 | 829,714.25 |
| August 23, 2023 | 145,048 | 11.7716 | 11.80 | 11.60 | 1,707,447.04 |
| August 24, 2023 | 83,395 | 11.8010 | 11.90 | 11.75 | 984,144.40 |
The total value of these transactions stands at an impressive R3,521,305.69, underlining the company’s conviction in its future prospects and the importance of aligning employee interests with shareholder success. The purchases were executed under the direct beneficial interest of Zenith Car Rental (Pty) Ltd, ensuring that the subsidiary is positioned to play a pivotal role in the company’s evolution.
The recent share purchase transactions undertaken by Zenith Car Rental (Pty) Ltd on behalf of the Zeda Long-Term Incentive Plan stand as a testimony to Zeda Limited’s commitment to its employees and shareholders alike. As the company propels forward, these initiatives will likely continue to be a beacon of its forward-looking strategy, aligning its success with the well-being of its workforce and investors.
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