Foschini in R634m share buyback
The Foschini Group (TFG) said on Thursday, 10 October 2013, it had purchased an additional 6.755-million ordinary shares‚ representing 3.0% of its shares‚ at a cost of R634.3m‚ on the open market.
The share repurchase was conducted under the general authorities granted by shareholders at various annual general meetings‚ the latest of which was held on 2 September‚ to repurchase a maximum of 22.5-million shares - 10% of the issued share capital.
The repurchases to date have been funded from available cash resources.