Depa Limited (“Depa” or the “Company”) announces that on 14 July 2009, the Company cancelled the 12,024,768 shares repurchased by the Company between 27 November 2008 and 30 June 2009. This follows shareholder approval at the Annual General Meeting, held on 5 November 2008.

 

The Company believes its shares are significantly undervalued and as such engaged a Share Repurchase programme, and subsequent cancelation of shares, which was announced on 26 November 2008 to last for a period of 12 months. Going forward, the Company plans to cancel subsequent repurchased shares on a quarterly basis.

 

The previous free float was 454,059,264 and following the share cancellation it is now 442,034,496. Total share capital following cancellation is now 614,726,448.