Photo by: Bloomberg
JSE-listed construction company Afrimat intends to repurchase four-million Afrimat shares for an aggregate consideration not exceeding R74-million.
Its majority owned subsidiary Infrasors would also enter into a share buy-back programme of three-million shares for an aggregate consideration not exceeding R4.05-million.
The share buyback programme was expected to be completed by November 9.
In June, Afrimat made a cash offer to acquire the entire remaining shares in Infrasors that it did not already own.