Company: KARO
Filing Date: 2025-06-09
Form Type: 20-F
Source: 0001213900-25-052372
Chunk: 172

Company: Karooooo Ltd.
Filing Date: 2025-06-09
Form: 20-F
Item: Item 16E
Chunk 172
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Item 16E. PURCHASE OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS

At the Annual General Meeting (AGM) held on August 29, 2024 the shareholders of Karooooo passed a resolution by a 97.08% majority vote authorizing the repurchase of up to 10% of the Company’s shares. The Board is duly authorized to implement this share buyback program in accordance with the requirements outlined in the resolution.

Purchases of ordinary shares by the Company may be made by way of market purchases on the Nasdaq and/or the JSE. At our next AGM, we expect to seek approval of the renewal of our share repurchase program on the same terms as currently in effect.

Following the authorization by shareholders granted at the prior AGM, held on July 12, 2023, Karooooo purchased 57,806 of its common stock, as set out below:

                Period                             Total                 Weighted average        Total number of shares purchased as part of publicly announced      Maximum number of shares that may yet be purchased 
                                                 number of              price per ordinary                             plans or programs                                        under the plans or programs             
                                         ordinary shares purchased            share                                                                                                                                     
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
February 9, 2024 to February 29, 2024                        51,106               ZAR 466.01                                                              51,106                                               3,044,004
May 16, 2024                                                  6,700               ZAR 515.20                                                               6,700                                               3,037,304

Karooooo subsequently cancelled 51,106 shares, effective May 24, 2024, and 6,700 shares, effective July 2, 2024.

The authority conferred by the share repurchase mandate will continue by law until the earliest of either the date of the next AGM, the date by which the next AGM of the Company is required by law to be held or the date on which the share purchases are carried out to the full extent mandated or revoked by shareholders at a general meeting.

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