Arm to cancel and delist treasury shares after buyback

African Rainbow Minerals (ARM) announced it will cancel and delist ordinary shares after repurchasing shares under a general authority granted by shareholders on December 6, 2024. The company cumulatively repurchased 3,239,681 ordinary shares at an average price of ZAR154.27 per share between March 31, 2025, and April 25, 2025, for a total consideration of ZAR499.8 million. Additionally, ARM will receive 12,717,328 ordinary shares classified as treasury shares from Opilac Proprietary Limited, a wholly-owned subsidiary of ARM, as a distribution in specie. No consideration is payable for this distribution. Application for the cancellation and delisting of the Treasury Shares will be submitted to the JSE on June 20, 2025. Post-cancellation, ARM's issued share capital will consist of 208,710,769 ordinary shares. The cancellation has no impact on the earnings per share and headline earnings per share of ARM.