TeleMasters announces share repurchase programme during closed period

TeleMasters Holdings Limited has announced it will continue its closed period share repurchase programme, commencing 1 July 2025 and terminating around 30 September 2025. This buyback is authorized under a general mandate granted at the company's annual general meeting on 28 November 2024, allowing the company to repurchase up to 5% of its issued shares as of 1 July 2024 (2,874,142 shares). The share repurchase program commenced in October 2020, under previous authorities to repurchase shares. The repurchase price will not exceed 10% above the volume-weighted average traded price of TeleMasters' shares on the Johannesburg Stock Exchange over the five business days preceding any purchase. The company is scheduled to release financial results for the year ended 30 June 2025 around the time the repurchase programme ends. The programme can be discontinued at any point during the specified period. AcaciaCap Advisors Proprietary Limited is the designated advisor for the repurchase program.