York Timber Holdings Limited (JSE:YRK) commences share repurchases on January 1, 2015, under the program mandated by the shareholders in the Annual General Meeting held on November 11, 2014. As per the mandate, the company is authorized to repurchase up to 10% of the issued share capital, and in case of repurchases by subsidiaries 10% of the issued share capital. The shares will not be repurchased at a price greater than 10% above the weighted average price of the market value of the shares as determined over the five business days immediately preceding the date on which the repurchase is made.

The repurchases will be in accordance with the Companies Act 61 of 1973. The repurchases will be conducted through an order book operated by JSE trading system without prior understanding between the company and the counter party. The repurchases will not be made during the prohibited period and the company will comply with the shareholders spread requirements as laid down on JSE.

The share repurchase program shall expire at the conclusion of the next Annual General Meeting or after 15 months.