Southern Sun Limited (JSE:SSU) commences share repurchases on December 2, 2022, under the program mandated by the shareholders in the Annual General Meeting held on September 20, 2022. As per the mandate, the company is authorized to repurchase up to 295,581,139 shares, representing 20% of the issued share capital. The shares will be repurchased at a maximum price not greater than 10% above the weighted average of the market value of ordinary shares for the five business days immediately preceding the date on which the repurchase is affected.

The authority shall be valid only until the next Annual General Meeting of the company, provided that it shall not extend beyond 15 months from the date of passing of this special resolution. As of September 20, 2022, the company has 1, 477, 905,694 shares in issue.