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Afrimat, Infrasors to buy back shares

Afrimat, Infrasors to buy back shares

Photo by Bloomberg

31st August 2015

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

  

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JSE-listed construction company Afrimat intends to repurchase four-million Afrimat shares for an aggregate consideration not exceeding R74-million.

Its majority owned subsidiary Infrasors would also enter into a share buy-back programme of three-million shares for an aggregate consideration not exceeding R4.05-million.

The share buyback programme was expected to be completed by November 9.

In June, Afrimat made a cash offer to acquire the entire remaining shares in Infrasors that it did not already own.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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