Listed diversified investment company MICROmega Holdings has announced to shareholders that it has cumulatively repurchased 5,597,285 of its own shares.<\/p>\n
This equates to 5.55% of its issued share capital. The shares were purchased at an aggregate price of R16.861 million between the period of August 2012 to July 2013.<\/p>\n
The repurchase were granted by MICROmega shareholders in July 2012, and the company is entitled to repurchase a further 14,563,250 shares (14.45% of the shares in issue).<\/p>\n
The board of MICROmega said that it has considered the effect of the repurchases and is of the opinion that, for the next year:<\/p>\n
In its reporting of its year-end results to 31 December 2012, the company highlighted an increase in operating profits by 37% to R14 million (2011: R10 million).<\/p>\n
Headline earnings per share increased by 59% to 32.58 cents per share (2011: 20.50 cents per share), while earnings per share increased by 70.43% to 12.39 cents per share (2011: 7.27 cents per share).<\/p>\n
MICROmega currently has a market cap of R223.34 million and opened trade in the JSE at R2.20 on Wednesday (31 July 2013).<\/p>\n
MICROmega sees vast earnings growth<\/strong><\/a><\/p>\n MICROmega earnings up 87% for H1<\/strong><\/a><\/p>\n MICROmega expects H1 earnings rise<\/strong><\/a><\/p>\n MICROmega looks for growth in the cloud<\/strong><\/a><\/p>\n