PnP to delist 25.7m shares

Johannesburg - Food retailer Pick n Pay on Thursday said the JSE had approved the delisting of 25,736,561 ordinary shares in the capital of the company following the re-purchase and cancellation of these shares.

This represents 5.08% of the company's issued share capital, immediately prior to the cancellation.

These shares were held as treasury shares by a subsidiary company, which repurchased the shares in terms of a general authority approved by shareholders at the Annual General Meetings held in years June 2002 to June 2005.

The group said the cancellation of these shares has no financial impact on the headline earnings (diluted and undiluted) and earnings (diluted and undiluted).

Following the cancellation, the company has 480,397,321 ordinary shares in issue of 1.25c each.

- I-Net Bridge