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Eqstra buys back 8m shares

17th May 2013

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

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Contract mining and equipment group Eqstra Holdings spent R49.8-million from April 30 to May 6 to buy back almost eight-million shares.

The firm had since delisted all 7 985 504 shares on the JSE, reducing the shares in issue by 1.9% to 411.3-million.

This brings the total number of shares repurchased since July last year to over 17.3-million shares – just under 3-million shares short of its 21-million limit.

“Our repurchase programme continues as we see value in our current share price, which trades at a discount to the company’s net asset value,” Eqstra CEO Walter Hill said in a statement.

Edited by Mariaan Webb
Creamer Media Contract Publishing Editor

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