Shareholders of Bayport Management Ltd ("BML" or the "Company") ("Shareholders") and the general public are hereby informed that the board of directors of BML (the "Board") has authorised the repurchase of a total of 50,203 shares, representing c.0.16% of the issued share capital of the Company (the "Buyback Shares"). The Buyback Shares will be repurchased from certain employees who were awarded shares in BML based on their performance in accordance with the rules of BML's Long Term Incentive Plan dated 31 October 2012, as amended( "Long Term Incentive Plan") (the "Buyback").
As the Buyback relates to less than 5% of BML's current issued share capital, the price at which the Buyback Shares will be repurchased is not required to be in compliance with Rule 3(d)(ii)(b) of the Securities (Purchase of Own Shares) Rules 2008 (the "Buyback Rules"). The Buyback Shares shall accordingly be repurchased at a price of USD 5.74 per share, which price was determined using the mechanisms as provided for under the relevant provisions of the Long Term Incentive Plan.
At the Annual General Meeting of Shareholders held on 22 June 2022, a special resolution was also passed thereby authorising the Board to proceed with the repurchase of a maximum of 1,538,338 BML shares representing 4.9% of its issued shares as at the date of the notice of said Annual General Meeting.
As required in terms of the Buyback Rules, an Explanatory Statement will accordingly be issued to all Shareholders in due course, containing all relevant information relating to the Buyback, for their information.
By order of the Board 11 July 2022
For further information please contact:
Mauritian Corporate Advisor Perigeum Capital Ltd Corporate Advisor
+230 402 0890
SEM Authorised Representative & Sponsor
Company Secretary
and Mauritian Corporate Advisor
This notice is issued pursuant to SEM Listing Rule 11.3. The Board accepts full responsibility for the accuracy of the information contained in this announcement.
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Bayport Management Ltd. published this content on 11 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 July 2022 12:23:05 UTC.
Bayport Management Ltd is a Mauritius-based holding company. The Company is involved in the provision of retail financial services. The Companyâs subsidiaries include Bayport Financial Services Limited, Bayport Savings and Loans Limited, Bayport Financial Services (T) Limited, Bayport Financial Services Uganda Limited, Money Quest Investments (Proprietary) Limited, Bayport Colombia S.A., Bayport Asesores Ltda and others. The Company operates in Zambia, Ghana, Tanzania, Uganda, Botswana, Mozambique, Colombia and Mexico. Its products are structured into four product sets: credit, savings, transacting and insurance. Its personal loan products include both retail loans, which are recovered through direct payments, preferably through debit orders, and payroll loans, which are collected through employersâ payrolls. Its transactional account gives customers access to competitive interest rates, mobile banking, e-wallets, payment kiosks and automated teller machine (ATM) services.
BAYPORT MANAGEMENT LTD 
