African Equity Empowerment Investments Limited commences an Equity Buyback Plan for 20% of its issued share capital, under the authorization approved on January 18, 2019.

African Equity Empowerment Investments Limited (JSE:AEE) commences share repurchases on January 18, 2019, under the program mandated by the shareholders in the Annual General Meeting held on January 18, 2019. As per the mandate, the company will repurchase its B shares, representing 20% of its issued share capital. The maximum price which may be paid for each share will not be more than 10% of the weighted average of the market value at which such ordinary shares are traded on the JSE, as determined over the 5 trading days immediately preceding the date on which the repurchase is made. The authority shall expire at the conclusion of the next Annual General Meeting, the date on which the next Annual General Meeting in 2020, or 15 months, whichever is earlier. As at December 14, 2018, the company had 491,339,484 shares in issue.