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Village repurchases R36m worth of shares

Jan 18 2013 10:14
I-Net Bridge

Johannesburg - Village Main Reef Gold Mining Company [JSE:VIL] has repurchased 30 937 210 of its own ordinary shares through its wholly owned subsidiary Buffelsfontein Mines for an aggregate price of R36.94m. 

The share repurchases is in terms of a general authority granted by shareholders in November 2012 and have been funded from the company's available cash resources‚ the company said on Friday.

The repurchases comprise 3.067% of the company's issued share capital since the granting of the general authority.

The repurchased shares are to be held as treasury shares after the repurchase.

The company may repurchase a further 170.8 million shares - 16.93% of the number of shares in issue - in terms of that general authority‚ which is valid until the company's next annual general meeting.  

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