Textainer announces share repurchase program
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
TEXTAINER ANNOUNCES SHARE REPURCHASE PROGRAM
We draw attention to the following news release issued by Textainer Group Holdings Limited, in which Trencor has a 47,48% interest:
“Hamilton, Bermuda, Sept. 3, 2019 /PRNewswire/ – Textainer Group Holdings Limited (NYSE: TGH) (“Textainer”), one of the world’s largest lessors of intermodal containers, today announced that its Board of Directors has authorized a share repurchase program under which Textainer may repurchase up to $25,000,000 in the aggregate of the Company’s outstanding shares of common stock. Repurchases under this program may be made from time to time through open market purchases, privately negotiated transactions or such other manners as will comply with applicable laws and regulations.
“The share repurchase program reflects our confidence in the strength of our business and the long-term outlook for Textainer. We remain committed to delivering value to our shareholders while maintaining a strong financial position to support the future growth of our business,” said Olivier Ghesquiere, President and Chief Executive Officer of Textainer Group Holdings Limited.
The timing and actual number of shares repurchased will depend on a variety of factors including price, corporate and regulatory requirements, market conditions and other corporate liquidity requirements and priorities. The repurchase program does not obligate Textainer to purchase any particular number of shares and there is no guarantee as to the exact number of shares that will be repurchased by Textainer. Textainer may suspend, modify or terminate the program at any time and for any reason, without prior notice. The Company intends to finance the repurchases with free cash flow and excess cash and available liquidity.
Trencor Services (Pty) Ltd
4 September 2019
Rand Merchant Bank (A division of FirstRand Bank Limited)