Under the equal access offer, Sarine will offer to buy up to 4 million shares representing around 1.15% of the total number of 348.1 million shares in issue as at Nov 20. Assuming the maximum share purchase amount, Sarine will commit $1.4 million towards the purchase of the shares. The company’s shareholders will be entitled to accept the offer in full or partially in respect of the stake he or she holds on the date of the close of the offer.
Sarine Technologies has offered to pay 34 cents per share in an off-market equal access share buyback offer.
The offer, which is open to Sarine’s shareholders, is in accordance to Sarine’s existing share purchase mandate at the extraordinary general meeting (EGM) held on April 24.
