Karooooo Announces Stock Buyback

se its own shares on the open market as and when it deems appropriate, subject to market conditions and applicable regulations.

The decision to repurchase shares reflects Karooooo’s commitment to delivering long-term value to its shareholders. The Company believes that its shares are currently undervalued and that repurchasing shares presents an attractive investment opportunity. By reducing the number of outstanding shares, Karooooo aims to enhance the value of the remaining shares for its shareholders.

Share repurchases are a common strategy utilized by companies to return capital to shareholders and signal confidence in the future prospects of the business. It also provides flexibility for capital allocation and demonstrates management’s commitment to maximizing shareholder value.

Karooooo’s decision to repurchase shares aligns with its strategic priorities and commitment to creating value for its shareholders. The Company remains focused on executing its growth strategy and believes that the share repurchase program complements its efforts to drive shareholder value over the long term.

The Company’s strong financial position and cash flow generation provide the necessary resources to fund the share repurchase program while continuing to invest in its growth initiatives. Karooooo is committed to maintaining a balanced approach to capital allocation, which includes investing in organic growth opportunities, pursuing strategic acquisitions, and returning capital to shareholders through share repurchases.

The share repurchase program underscores Karooooo’s confidence in its business and long-term prospects. The Company remains committed to delivering sustainable value to its shareholders and believes that the repurchase of shares represents an efficient use of capital.

The Board and management team will continue to evaluate the share repurchase program and make adjustments as needed to optimize the allocation of capital and drive long-term shareholder value. Karooooo remains focused on executing its business strategy and delivering strong financial performance while returning capital to shareholders in a disciplined and strategic manner.

In conclusion, Karooooo’s announcement of the share repurchase program reflects the Company’s commitment to creating value for its shareholders and its confidence in the future prospects of the business. The Board and management team are dedicated to executing the repurchase program in a manner that enhances shareholder value and aligns with the Company’s long-term strategic objectives. Karooooo remains focused on driving sustainable growth and delivering strong financial performance while returning capital to shareholders in a balanced and disciplined manner.

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