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05-Sep-2018
(C)
Revenue for the interim period increased to R464.6 million (2017: R434.8 million). Gross profit increased to R124.1 million (2017: R121 million). Operating profit grew to R13.2 million (2017: R2.1 million). Total comprehensive profit attributable to equity holders of the parent was recorded at R7.3 million (2017: total comprehensive loss of R1.1 million). Furthermore, headline earnings per share amounted to 4.1 cents per share (2017: headline loss per share of 0.7 cents per share).



Distributions to shareholders

The KayDav board of directors has decided that no distribution to shareholders will be made for the six months ended 30 June 2018.



Prospects

Board Distribution and Adaptation

The wood-based panel industry is seasonal with the majority of revenue and profits made during the second half of the year. While the normal seasonal upswing will occur as usual, low business confidence levels and consumer caution will continue to constrain year-on-year growth. While it is unclear when the general economy will improve, with the benefits it will bring to KayDav, management will continue to deal with factors within its control including improvement of our service and product offering to customers, containment of costs and strong working capital management.



Packaging

Strong revenue and profit growth occurred at our Johannesburg operation during the first six months of 2018 and we expect the strong growth to continue. However, our Cape Town operation experienced tougher trading conditions with the drought affecting agricultural output. When agricultural production and general economic activity in the Western Cape return to pre-drought levels, profitable growth will return.
28-Aug-2018
(Official Notice)
Shareholders are advised that a notice of general meeting of KayDav shareholders ("general meeting") was dispatched to shareholders today, Tuesday, 28 August 2018. The purpose of the general meeting is for shareholders to consider and, if deemed fit, approve with or without modification, special resolutions to approve fees payable by the company to non-executive directors for their services as directors.



The notice of general meeting is also available in electronic format on the company?s website www.kaydav.co.za/wp-content/uploads/2016/04/Notice-of-general-meeting-27-September-2018.pdf The general meeting will be held at the offices of Grant Thornton, 52 Corlett Drive, Wanderers Office Park, Illovo, 2196, Gauteng on Thursday, 27 September 2018 at 11:00. The last day to trade in order to be eligible to participate in and vote at the general meeting is Tuesday, 18 September 2018.

08-Aug-2018
(Official Notice)
Shareholders are advised that the company's earnings per share and headline earnings per share for the six months ended 30 June 2018, is expected to be between 3.8 cents per share and 4.5 cents per share compared to the loss per share of 0.6 cents and headline loss per share of 0.7 cents reported in the unaudited interim results for the six months ended 30 June 2017.



The unaudited interim results for the six months ended 30 June 2018, is anticipated to be released on or about, 3 September 2018.
18-May-2018
(Official Notice)
Shareholders are advised that at the annual general meeting of shareholders held on Thursday, 17 May 2018 (in terms of the notice dispatched on 29 March 2018), the resolutions tabled thereat, other than special resolutions 1, 2.1 and 2.2 were passed by the requisite majority of KayDav shareholders, while ordinary resolutions 6.1 and 6.2 were voted against by more than 25% of the voting rights exercised in respect of those resolutions.



Details of the results of voting at the annual general meeting were as follows:

*total number of KayDav shares in issue as at the date of the annual general meeting: 172 751 585;

*total number of KayDav shares that were present/represented at the annual general meeting: 164 553 471 being 95.25% of the total number of KayDav shares that could have been voted at the annual general meeting.



Shareholders are advised that due to the non-binding advisory votes on the remuneration policy and the remuneration implementation report being voted against by more than 25% of the voting rights exercised in respect of these resolutions, KayDav extends an invitation to dissenting shareholders to engage with the company in order to address their concerns. Shareholders are requested to address their concerns to the Chairman of the Remuneration Committee, by submitting an email to KayDav?s company secretary at gillian.prestwich@computershare.co.za by 31 May 2018. The Chairman of the Remuneration Committee will in turn contact dissenting shareholders to engage further with them on their concerns.
29-Mar-2018
(Official Notice)
Shareholders are advised that the Company?s integrated annual report, incorporating the audited annual financial statements for the year ended 31 December 2017 and the notice of annual general meeting, was dispatched on Thursday, 29 March 2018, and contains no changes from the summarised audited consolidated results for the year ended 31 December 2017, which were published on SENS on 22 March 2018.



Notice of annual general meeting

Shareholders are further advised that the Company?s annual general meeting will be held at 10:00 on Thursday, 17 May 2018 at the offices of Grant Thornton Johannesburg Partnership, 52 Corlett Drive, Wanderers Office Park, Illovo, 2196, Gauteng. The last day to trade in order to be eligible to participate in and vote at the annual general meeting is Tuesday, 8 May 2018 and the record date for voting purposes is Friday, 11 May 2018.



Availability of Broad-Based Black Economic Empowerment compliance report

Shareholders are hereby notified that in accordance with the JSE Listings Requirements, KayDav?s annual compliance report in terms of section 13G(2) of the Broad-Based Black Economic Empowerment Act 53 of 2003, read with the Broad-Based Black Economic Empowerment Amendment Act 46 of 2003, has been published and is available on the company?s website, www.kaydav.co.za.
22-Mar-2018
(C)
Revenue for the year decreased to R945 million (2016: R967.8 million). Gross profit fell to R258.1 million (2016: R264.4 million) whilst operating profit lowered to R21.8 million (2016: R45 million). Total comprehensive income attributable to equity holders of the parent decreased to R10.4 million (2016: R27.3 million). Furthermore, headline earnings per share declined to 6 cents per share (2016: 15.9 cents per share).



Distributions to shareholders

The KayDav board of directors ("the board") has decided that no distribution to shareholders will be made at this time. The board considers it prudent to conserve cash in light of the high-risk macroeconomic environment in which the Group operates. This decision will be revisited at the time of publishing the Group's interim financial statements during August 2018.



Company prospects

In the Board Distribution and Adaptation segment our industry has experienced eroding operating profit margins as cost inflation outruns selling price inflation. This is the result of supply exceeding demand. Structurally this problem can be corrected by economic growth or by a decrease in manufacturing and wholesale capacity. Since we have little control over the structural industry issues, management is focusing on cost efficiency while developing new product lines to augment revenue. The expansion of our product range responds to the needs of our customers and potential customers while providing opportunities for sales and profit growth. The Packaging segment continues to provide opportunities for growth, being a relatively small player in a large industry.

19-Mar-2018
(Official Notice)
Shareholders are referred to the trading statement released on SENS on 12 December 2017 wherein KayDav indicated that earnings and headline earnings per share for the year ended 31 December 2017 would be at least 5.0 cents per share.



KayDav is now in a position to advise shareholders that earnings per share (?EPS?) and headline earnings per share (?HEPS?) for the year ended 31 December 2017 is anticipated to be 6.0 cents per share. Compared to EPS of 15.8 cents and HEPS of 15.9 cents for the year ended 31 December 2016, this represents a decrease of 62.0% and 62.3% respectively.



The financial results for the year ended 31 December 2017 is anticipated to be released on or about 22 March 2018.
12-Dec-2017
(Official Notice)
In terms of the Listings Requirements of the JSE Limited, companies are required to publish a trading statement as soon as they are satisfied that a reasonable degree of certainty exists that the financial results for the current reporting period will differ by at least 20% from the financial results for the previous corresponding period.



The earnings expectation for the year ended 31 December 2017, set out below, represents KayDav?s best estimate at this time and shareholders are advised that KayDav is not able to provide, with a reasonable degree of certainty, a specific percentage and numbers, or range and numbers, to describe the difference in the financial results for such period. Once the company obtains reasonable certainty in this regard it will issue a further trading statement.



On 22 August 2017 KayDav reported a loss per share of 0.6 cents and a headline loss per share of 0.7 cents for the six months ended 30 June 2017. Earnings have since improved due to the normal seasonal increase in sales activity and decrease in bad debts. KayDav now expects to report earnings and headline earnings per share of at least 5.0 cents for the year ended 31 December 2017. However, profitability will still be well below the earnings and headline earnings per share of 15.8 cents and 15.9 cents respectively for the year ended 31 December 2016.



The information on which this trading statement has been based has not been reviewed or reported on by KayDav?s auditors. The audited results for the year ended 31 December 2017 are anticipated to be released by 31 March 2018.

22-Aug-2017
(C)
Revenue for the interim period decreased to R434.8 million (2016: R458.9 million). Gross profit decreased to R121 million (2016: R129 million). Operating profit fell to R2.1 million (2016: R21.6 million). Total comprehensive loss attributable to equity holders of the parent was recorded at R1.1million (2016: total comprehensive income of R13.2 million). Furthermore, headline loss per share amounted to 0.7 cents per share (2016: headline earnings per share of 7.7 cents per share).



Distributions to shareholders

KayDav has resolved not to make any distributions to shareholders until the Group has returned to an acceptable level of profitability.



Prospects

Board Distribution and adaptation

The wood-based panel industry is seasonal with the majority of revenue and profits made during the second half of the year. This, in conjunction with management's expectation that the bad debt expense for the second half-year will be significantly lower than that of the first half-year, leads management to expect that the Group will be profitable for the year ended 31 December 2017. During this challenging period, where low business confidence levels continue to suppress demand, our focus is on weathering the storm. For KayDav this implies strong working capital management and continuing to improve our service and product offering to customers. Management however continues to operate the Group for the long term and therefore decisions are being made to improve profitability and sustainability beyond this economic downturn.



Packaging

The Group's Packaging segment, while still relatively small, grew revenue by 34% and operating profit before interest by 33%, when compared to the prior comparative period. We are confident that this segment has sufficient opportunities for strong growth during the short and medium term.
17-Aug-2017
(Official Notice)
Shareholders are referred to the trading statement released on SENS on 29 June 2017 wherein KayDav noted the current tough macro-economic environment and trading conditions in the wood-based panel industry. This has resulted in the Group?s sales and profit margins decreasing. The bad debt expense increased significantly as a result of bad debts written off and increased provisions. Shareholders were advised that the company?s earnings per share and headline earnings per share for the six months ended 30 June 2017 would decrease by at least 80%.



KayDav is now in a position to advise shareholders as follows:

* The loss per share for the six months ended 30 June 2017 will be 0.6 cents per share, being a decrease of 107.9% from the earnings per share of 7.6 cents per share as reported by the company for the six months ended 30 June 2016.

* The headline loss per share for the six months ended 30 June 2017 will be 0.7 cents per share, being a decrease of 109.1% from the headline earnings per share of 7.7 cents per share as reported by the Company for the six months ended 30 June 2016.



The unaudited interim results for the six months ended 30 June 2017 are anticipated to be released on 22 August 2017.
29-Jun-2017
(Official Notice)
The tough macro-economic environment has had a significant negative impact on trading conditions in the wood- based panel industry which resulted in substantial increases to the Group?s provisions for bad debts to date while its own sales and profit margins have also been negatively impacted. Shareholders are therefore advised that the Company?s earnings per share and headline earnings per share for the six months ended 30 June 2017 are expected to be at least 80% lower compared to the earnings per share of 7.6 cents per share and headline earnings of 7.7 cents per share reported in the unaudited interim results for the six months ended 30 June 2016.



Shareholders are further advised that KayDav does not have reasonable certainty to provide guidance as to either the specific percentage and numbers, or the range and numbers, to describe the difference in the financial results in such periods. Once the Company obtains reasonable certainty in this regard it will issue a further trading statement.



The information on which this trading statement has been based has not been reviewed or reported on by KayDav?s auditors.



The unaudited interim results for the six months ended 30 June 2017, are anticipated to be released on 21 August 2017.

18-May-2017
(Official Notice)
Shareholders are advised that at the annual general meeting of shareholders held on Thursday, 18 May 2017 (in terms of the notice dispatched on 30 March 2017) all of the resolutions tabled thereat were passed by the requisite majority of KayDav shareholders.
23-Mar-2017
(C)
Revenue for the year increased to R967.8 million (2015: R864.6 million). Gross profit rose to R264.4 million (2015: R242.7 million) whilst operating profit lowered to R44.9 million(2015: R50.8 million). Total comprehensive income attributable to equity holders of the parent decreased to R27.3 million(2015: R32.2 million). Furthermore, headline earnings per share declined to 15.9 cents per share (2015: 18.7 cents per share).



Distributions

The KayDav board of directors ('the board') has decided that no distribution to shareholders will be made at this time. The board considers it prudent to conserve cash in light of the high-risk macro-economic environment in which the group operates. This decision will be revisited at the time of publishing the group's interim financial statements during August 2017.



Prospects

The Packaging segment grew operating profit by 19% to R6.4 million (2015: R5.4 million) during 2016 and the group looks forward to continued growth from this segment through gaining market share.



Slow macro-economic growth continues to affect the board distribution business and we expect 2017 to be a very challenging year. The group remains focused on increasing its market share profitably by being customer-centric and sales-focused while maintaining and improving working capital efficiency.



Notice of annual general meeting

Shareholders are advised that the integrated annual report containing the annual financial statements will be posted on or before 31 March 2017. KayDav?s annual general meeting will be held at 10:00 on Thursday, 18 May 2017 at the offices of Grant Thornton Johannesburg Partnership, 52 Corlett Drive, Wanderers Office Park, Illovo, 2196, Gauteng. The last day to trade in order to be eligible to participate in and vote at the annual general meeting is Tuesday, 9 May 2017 and the record date for voting purposes is Friday, 12 May 2017.

08-Sep-2016
(C)
Revenue for the interim period grew to R458.9 million (2015: R392.3 million). Gross profit increased to R128.9 million (2015: R110.3 million). Operating profit grew to R21.6 million (2015: R19.1 million). Total comprehensive income attributable to equity holders of the parent was higher at R13.2 million (2015: R11.7 million). Furthermore, headline earnings per share increased to 7.7 cents per share (2015: 6.8 cents per share).



Distributions to shareholders

The Group made a cash distribution of 5.5 cents per share to shareholders on 23 May 2016.



Prospects

On a macro-economic level, KayDav is concerned about deteriorating growth forecasts for South Africa and the effect it might have on investment in property and furniture.



On an enterprise level the Group will continue to focus on its value offering to customers in order to maximise its market share. The Group's Packaging business is still a small player in the industry and the group is confident of strong growth going forward, especially in the Gauteng market. The Board Distribution and Adaptation segment currently enjoys significant market share and will therefore be more affected by slow or negative macro-economic growth, however Kaydav remains convinced that responding to the needs of the group's customers gives it opportunities for growth.



KayDav remains open to acquisition opportunities which will create sustainable value for shareholders.

30-Jun-2016
(Official Notice)
30-Jun-2016
(Official Notice)
Shareholders are referred to the announcement released on SENS on 31 May 2016, wherein shareholders were advised that KayDav had posted a notice of general meeting of KayDav (?the notice?), to shareholders for the purposes of considering and, if deemed fit, passing, with or without modification, the resolutions set out in the notice necessary to give effect to amendments to the company?s memorandum of incorporation and to appoint an additional director to the board of directors of Kaydav, as further set out in the notice.



Shareholders are advised that at the general meeting of KayDav shareholders, held on Thursday, 30 June 2016, all of the resolutions tabled thereat were passed by the requisite majority of shareholders.

Details of the results of the general meeting are as follows:

*total number of KayDav shares that could have been voted at the general meeting: 172 751 585

*total number KayDav shares that were present/represented at the general meeting: 86 357 077 (being 49.99% of the total number of shares that could have been voted at the meeting).



Shareholders are accordingly advised that Frank Davidson has been appointed as an independent non-executive director of the company with immediate effect.

31-May-2016
(Official Notice)
Shareholders are advised that the company on Tuesday, 31 May 2016, posted a notice of general meeting of KayDav shareholders (?the notice?) which will be held at 10h00 at the offices of Grant Thornton, 52 Corlett Drive, Wanderers Office Park, Illovo, Gauteng on Thursday, 30 June 2016 for the purposes of considering and, if deemed fit, passing, with or without modification, the resolutions set out in the notice necessary to give effect to amendments to the company?s memorandum of incorporation, as further set out in the notice and to appoint an additional director to the board of directors of Kaydav.



The last day to trade in order to be eligible to attend and vote at the general meeting is Friday, 17 June 2016 and the record date for voting purposes is Friday, 24 June 2016.



A copy of the notice is available on the company?s website, www.kaydav.co.za.



20-May-2016
(Official Notice)
Shareholders are advised that at the annual general meeting of shareholders held on Thursday, 19 May 2016 (in terms of the notice of annual general meeting dispatched on 31 March 2016) all of the resolutions tabled thereat (other than ordinary resolution number 6, placing the unissued shares under the control of the company?s directors and ordinary resolution number 7, authorising the company to issue shares for cash), were passed by the requisite majority of KayDav shareholders.
29-Mar-2016
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29-Mar-2016
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29-Mar-2016
(C)
Revenue for the year ended 31 December 2015 increased to R864.6 million (R761.7 million). Gross profit rose to R242.7 million (R217.7 million), operating profit increased to R50.8 million (R43.4 million), while total comprehensive income attributable to equity holders of the parent was higher at R32.2 million (R27.8 million). Furthermore, headline earnings per share grew to 18.7cps (16.3cps).



Distribution

Notice is hereby given that the board of directors of KayDav has resolved to make a capital reduction in lieu of a dividend out of share premium of 5.5cps.



Prospects

The Packaging segment provides the most immediate opportunity for growth and here the Group is focusing on expanding its Gauteng operation and on penetrating the market with recently added product lines in both the Western Cape and Gauteng. In KayDav's traditional board distribution business slow macro-economic growth continues to affect the industry. The Group remains focused on increasing its market share profitably by being customer-centric and sales-focused while maintaining and improving working capital efficiency.

24-Aug-2015
(C)
Revenue for the interim period rose to R392.3 million (R341.9 million). Gross profit jumped to R110.4 million (R99.3 million). Operating profit increased to R19.1 million (R15.7 million).Total comprehensive income attributable to equity holders was higher at R11.7 million (R10.1 million). In addition, headline earnings per share grew to 6.8 cents per share (5.9 cents per share).



Distributions to shareholders

The Group made a cash distribution of 5 cents per share to shareholders on 18 May 2015.



Prospects

In the packaging segment immediate opportunities exist in the introduction and development of new product lines as well as in the expansion of its Johannesburg operation. KayDav has introduced new product lines with early success and we look forward to building on this momentum.



The board distribution and adaptation segment continues to be negatively affected by slow macroeconomic growth. The Group remains focused on increasing its market share profitably by being customer-centric and sales focused while maintaining and improving working capital efficiency.
29-Jul-2015
(Official Notice)
The company wishes to advise that independent non-executive director, Jonathan Hertz, has resigned from KayDav?s board of directors (the Board) with effect from 31 July 2015, due to increased demands on his time from his various other responsibilities.



KayDav is delighted to announce the appointment of another high calibre individual to fill the vacancy left by Jonathan?s resignation. Shane van Niekerk has been appointed as independent non-executive director with effect from 1 August 2015. Shane has impressive operational and governance experience gained particularly from his 27 year career at Mr Price Group from 1983 to 2010. During this time he held various positions including the positions of Chief Operations Officer and Joint Managing Director while serving on Mr Price Group Limited?s board as executive director from 2003 until his retirement in 2010. He is currently Chief Executive Officer of Pure Pharmacy Holdings, a group owning and managing a chain of community pharmacies.



Due to Jonathan?s resignation, Boitumelo Tlhabanelo, an independent non-executive director and chartered accountant, has been appointed as chairman of the Board?s audit and risk committee with effect from 1 August 2015, while Shane will chair the remuneration committee also with effect from 1 August 2015.

15-May-2015
(Official Notice)
Shareholders are advised that at the annual general meeting of shareholders held on Thursday, 14 May 2015 (in terms of the notice of annual general meeting dispatched on 30 March 2015) ordinary resolutions number 1, 2, 3, 4.1, 4.2, 4.3, 5 and 7 tabled thereat were passed by the requisite majority of the KayDav shareholders.



Ordinary resolution 6 and special resolutions 1, 2.1, 2.2 and 2.3 did not receive the requisite 75% majority approval and these resolutions were not passed.
23-Mar-2015
(C)
Revenue for the year ended 31 December 2014 jumped to R761.7 million (R666.2 million). Gross profit rose to R217.7 million (R197.3 million), operating profit increased to R43.4 million (R36.5 million), while total comprehensive income attributable to equity holders of the parent was higher at R27.8 million (R23.7 million). Furthermore, headline earnings per share grew to 16.3cps (13.7cps).



Distribution

Notice is hereby given that the board of directors of KayDav has resolved to make a capital reduction in lieu of a dividend out of share premium of 5cps.



Prospects

KayDav's entry into the packaging industry provides opportunities for growing organically through additional product lines and through wider and deeper market penetration especially in Gauteng where Packit's operation is still small relative to that of Cape Town. In the short term, the Group anticipates that resources will be applied to execute the organic growth strategy at Packit. In KayDav's traditional board distribution business slow macroeconomic growth continues to affect industry growth. The Group remains focused on increasing its market share profitably by being customer centric and sales focused while maintaining and improving working capital efficiency.
26-Aug-2014
(C)
09-Jun-2014
(Official Notice)
Shareholders were advised that following the acquisition of the business of Probity Business Services (Pty) Ltd. by Computershare Investor Services (Pty) Ltd. ("Computershare"), CIS Company Secretaries (Pty) Ltd., a subsidiary of Computershare, has been appointed as the company secretary of KayDav with immediate effect.
15-May-2014
(Official Notice)
Shareholders were advised that at the annual general meeting of shareholders of KayDav held on Thursday, 15 May 2014 (in terms of the notice of annual general meeting contained in KayDav's integrated annual report issued on 31 March 2014) all of the resolutions tabled thereat were approved by the requisite majority of shareholders, other than ordinary resolution six (the general authority to issue shares for cash) and special resolutions 2.1 and 2.2 (approving the director's remuneration for their services as directors) which were not passed by the requisite majority of shareholders.
26-Mar-2014
(Official Notice)
With reference to the condensed audited consolidated results for the year ended 31 December 2013 released over SENS earlier today, 26 March 2014, KayDav shareholders are advised that due to the public holiday on Wednesday, 7 May 2014, being Election Day, the salient dates in respect of the cash distribution are hereby amended as follows:



Last day to trade to be eligible to receive the cash distribution: Wednesday, 30 April 2014

Shares trade "ex" the cash distribution: Friday, 2 May 2014

Record date for the cash distribution: Friday, 9 May 2014

Cash distribution paid to shareholders: Monday, 12 May 2014
26-Mar-2014
(C)
Revenue for the year ended 31 December 2013 jumped to R666.2 million (2012: R550.9 million). Gross profit rose to R197.3 million (2012: R168.9 million), operating profit increased to R36.5 million (2012: R30.8 million), while total comprehensive income attributable to equity holders of the parent was higher at R23.7 million (2012: R20.4 million). Furthermore, headline earnings per share grew to 13.7cps (2012: 11.6cps).



Distribution

Notice is hereby given that the board of directors of KayDav has resolved to make a capital reduction in lieu of a dividend out of share premium (a reduction of Contributed Tax Capital as defined in the Income Tax Act, No. 58 of 1962, as amended) of 7.5 cents per share.



Prospects

KayDav is hopeful that economic growth will accelerate in the near to medium term and the Group is well positioned to take advantage of such growth when it occurs. KayDav remains focused on increasing its market share and profitability while maintaining and improving working capital efficiency.



Annual general meeting

Shareholders are advised that the integrated annual report containing the financial statements will be posted on or before 31 March 2014. KayDav's annual general meeting will be held at 10:00 on Thursday, 15 May 2014 at 2 Arnold Road, Rosebank, 2196, Gauteng.



22-Aug-2013
(C)
Revenue for the interim period increased to R298.8 million (R253.2 million) and operating profit grew to R14.8 million (R12.9 million). Total comprehensive income attributable to equity holders rose to R9.4 million (R8.5 million). Furthermore, headline earnings per share jumped to 5.5cps (4.9cps).



Prospects

Activity levels in our industry are determined by consumer demand which is affected by consumers' personal debt levels, employment and willingness and ability of financial institutions to extend credit.



On a macro level it appears that the group will continue to face strong headwinds in the short to medium term with the current high consumer debt levels, the negative employment outlook and possible increased inflation and interest rates, all of which are expected to negatively affect consumer demand. On a micro level management is focused on increasing market share at acceptable gross margins and to this end the group established a new outlet in Durban which is performing in line with management's expectations. In addition, management continues to ensure effective cost and working capital control.



While selling price inflation has lagged behind operating cost inflation for a number of years we are now seeing signs that the cycle may be turning. This, together with the earnings growth during the first six months of the financial year ending 31 December 2013, bodes well for the second half of the financial year which normally generates the greater contribution to operating profits.
13-Jun-2013
(Official Notice)
Shareholders are advised that at the annual general meeting of shareholders of KayDav held on Thursday, 13 June 2013 (in terms of the notice of annual general meeting contained in KayDav's integrated annual report issued on 31 March 2013) all of the resolutions tabled thereat were approved by the requisite majority of shareholders.
27-Mar-2013
(C)
Revenue for the year ended 31 December 2012 jumped to R550.9 million (2011: R483.6 million). Gross profit rose to R168.9 million (2011: R150.6 million), operating profit increased to R30.8 million (2011: R26.4 million), while total comprehensive income attributable to equity holders of the parent was higher at R20.4 million (2011: R18.2 million). Furthermore, headline earnings per share grew to 11.6cps (2011: 10.3cps).



Distribution

Notice is given that the board of directors of Kaydav has resolved to make a capital reduction in lieu of a dividend out of share premium of 7cps.



Prospects

The Group remains focused on increasing its market share and profitability while maintaining and improving working capital efficiency. To this end Kaydav opened a branch in Durban which commenced trading on 1 October 2012. This location, being the largest geographical market for our products where the Group did not have a presence previously, was a logical next step for Kaydav.



The industry is still battling the effects of oversupply on its selling prices, slow macroeconomic growth and the over indebtedness of the South African consumer. We are hopeful that these constraining factors will ease during 2013 and beyond. Kaydav is well positioned to take advantage of growing demand when it occurs.
22-Aug-2012
(C)
Revenue increased to R253.2 million (R221.4 million). Gross profit rose to R80 million (R68.6 million) and operating profit improved to R12.9 million (R9.3 million). Net attributable profit surged to R8.5 million (R5.8 million). Additionally, headline earnings per share grew to 4.9c (3.2cps).



Dividend

A interim dividend of 6cps has been declared out of share premium.



Prospects

Activity levels in the industry are determined by consumer demand which is affected by consumers' personal debt levels, employment and willingness and ability of financial institutions to extend credit.



On a macro level, much uncertainty exists around the local outlook for employment, inflation and interest rates which not only affects current consumer demand but also makes it difficult to gauge the prospects for industry growth in the short to medium term. On a micro level, management continues to focus on increasing market share and effective cost and working capital control.



The earnings growth during the first six months of the financial year ending 31 December 2012 bodes well for the second half of the financial year which normally generates the greater contribution to operating profits.
17-Aug-2012
(Official Notice)
Shareholders are referred to the announcements released on SENS on 12 June 2012 and 24 July 2012 and are advised that the company's board has decided not to proceed with the delisting of the company's shares from the JSE. Accordingly shareholders are advised that caution is no longer required to be exercised when dealing in their shares.
13-Aug-2012
(Official Notice)
Shareholders are advised that the group expects earnings per share and headline earnings per share for the six months ended 30 June 2012 of between 4.5 and 5.1 cents (compared to earnings per share and headline earnings per share of 3.2 cents for the six months ended 30 June 2011). This represents an increase in earnings per share and headline earnings per share of between 41% and 59%. Earnings and headline earnings per share are based on a weighted average number of shares in issue of 172 751 585 (June 2011: 183 566 511). The financial results for the six months ended 30 June 2012 will be published on SENS by no later than 28 September 2012.
24-Jul-2012
(Official Notice)
Shareholders are referred to the announcement released on SENS on 12 June 2012 and are advised that the company's board is still considering a possible delisting of the company's shares from the JSE Ltd. Accordingly shareholders are advised to continue to exercise caution when dealing in their shares in the company.
12-Jun-2012
(Official Notice)
Shareholders are advised that the company's board is considering a possible delisting of the company's shares from the JSE Ltd. Any delisting proposal would be accompanied by a cash offer (at a price which was verified by an independent expert as being fair) to be made to all shareholders who wish to monetise their investment in the company. Discussions in this regard are ongoing and accordingly shareholders are advised to exercise caution when dealing in their shares in the company.
03-May-2012
(Official Notice)
Shareholders are advised that at the annual general meeting of shareholders of KayDav held on Thursday, 3 May 2012 (in terms of the notice of annual general meeting contained in the KayDav annual report issued on 30 March 2012) all of the resolutions tabled thereat were approved by the requisite majority of shareholders.
12-Apr-2012
(Official Notice)
Kaydav shareholders were referred to the cautionary announcement dated 23 March 2012 and are advised that following the release of the financial effects of the acquisition, caution is no longer required to be exercised by shareholders when dealing in their shares.
12-Apr-2012
(Official Notice)
Shareholders were referred to the announcement released on SENS on 23 March 2012 in which it was announced that Kaydav's wholly owned subsidiary, Sign and Seal Trading 154 (Pty) Ltd. ("Sign and Seal"), had concluded an agreement for the acquisition of a property letting enterprise and related immovable property which houses the Kaydav head office and Ottery warehouse, situated at the remainder of Erf 1301, Ottery, Cape Town, Cape Division, also known as Hi Tech Park, Bamboesvlei Road, Ottery, Cape Town (the "acquisition") from I Foster Properties CC. The purpose of this announcement is to present the financial effects of the acquisition.



The effect of the acquisition on Kaydav's net asset value per share, net tangible asset value per share, earnings per share and headline earnings per share is not significant and therefore has not been disclosed.
30-Mar-2012
(Official Notice)
Shareholders are advised that the company's integrated annual report, incorporating the audited financial statements for the year ended 31 December 2011, was dispatched on Friday, 30 March 2012, and contains no changes from the audited results which were published on SENS on 27 March 2012. The integrated annual report contains a notice of annual general meeting, which will be held at 2 Arnold Road, Rosebank, Johannesburg, on Thursday, 3 May 2012 at 10h00.
27-Mar-2012
(C)
Revenue for the year ended 31 December increased to R483.6 million (2010: R460.8 million). Gross profit rose to R150.6 million (2010: R132.4 million), while operating profit jumped to R26.4 million (2010: R16.9 million), and total comprehensive income attributable to equity holders of the parent from continuing and discontinued operations soared to R18.2 million (2010: R6.6 million). Furthermore, headline earnings per share from continuing operations grew to 10.3cps (2010: 7.4cps).



Prospects

While supply still exceeds demand for wood based panels resulting in pressure on selling prices, the group has noticed signs of increased demand during the first quarter of 2012. These early signs bode well for 2012 but are tempered by the ongoing uncertainty about local and global economic growth. The group therefore expects moderate growth for the 2012 financial year. KayDav remains focused on increasing its market share and profitability while maintaining and improving working capital efficiency.
23-Mar-2012
(Official Notice)
The financial effects of the acquisition are still in the process of being finalised and will be published in due course. Shareholders of Kaydav are advised to exercise caution when dealing in their shares until the financial effects of the acquisition are announced.
23-Mar-2012
(Official Notice)
Shareholders are advised that KayDav's wholly-owned subsidiary, Sign and Seal Trading 154 (Pty) Ltd ("Sign and Seal") has concluded an agreement for the acquisition of a property letting enterprise and related immovable property situate at the remainder of Erf 1301, Ottery, Cape Town, Cape Division, also known as Hi Tech Park, Bamboesvlei Road, Ottery, Cape Town (the "immovable property") (collectively the "business") from I Foster Properties CC (the "seller") (the "acquisition")



Terms of the acquisition and suspensive conditions

The total purchase price payable by Sign and Seal for the business is R 13 850 000, which amount includes VAT levied at a rate of 0% (the "purchase price"). The effective date in respect of the acquisition shall be the date of registration of transfer of ownership of the immovable property into the name of Sign and Seal (the "effective date"). The sum of R 1 385 000 will be paid by Sign and Seal as a cash deposit and will be held in trust by the seller's conveyancers until the effective date. The balance of the purchase price will be discharged in cash on the effective date. The acquisition is subject to the suspensive condition that Sign and Seal is granted a loan for a minimum amount of R 9 695 000, by a financial institution upon security of a first mortgage bond to be passed over the immovable property within a period of 15 business days from 20 March 2012.



The business

The business is a property letting enterprise (together with the related immovable property) which lets the relevant premises to Evertrade 168 (Pty) Ltd, a wholly-owned subsidiary of KayDav.



Rationale for the acquisition

Sign and Seal is acquiring the business in order to secure the KayDav group?s tenure of the premises which currently houses its head office as well as its Ottery warehouse.



Categorisation of the acquisition

The acquisition is classified as a category 2 transaction in terms of the JSE Listings Requirements. The acquisition is not subject to the approval of KayDav's shareholders.



Financial effects and cautionary

The financial effects of the acquisition are still in the process of being finalised and will be published in due course. Shareholders of Kaydav are advised to exercise caution when dealing in their shares until the financial effects of the acquisition are announced.
22-Mar-2012
(Official Notice)
Shareholders are referred to the announcement released on SENS on 1 December 2011, in which shareholders were advised that the group expected earnings and headline earnings per share of between 8.0 and 9.5 cents for the year ended 31 December 2011. Shareholders are advised that, the group now expects earnings per share for the year ended 31 December 2011 of between 9.8 and 10.0 cents (compared to earnings per share of 3.3 cents for the year ended 31 December 2010) and headline earnings per share for the year ended 31 December 2011 of between 10.2 and 10.4 cents (compared to headline earnings per share of 3.9 cents for the year ended 31 December 2010). This represents an increase in earnings per share of between 197% and 203% and an increase in headline earnings per share of between 162% and 167%. Earnings and headline earnings per share are based on a weighted average number of shares in issue of 182 751 712 (December 2010: 198 961 975). The financial results for the year ended 31 December 2011 will be published on SENS by no later than 30 March 2012.
01-Dec-2011
(Official Notice)
The group accordingly advises shareholders that it is expecting earnings and headline earnings per share of between 8.0 and 9.5 cents for the year ended 31 December 2011 compared to earnings and headline earnings per share of 3.3 and 3.9 cents respectively for the year ended 31 December 2010. This represents an increase in earnings per share of between 142% and 188% and an increase in headline earnings per share of between 105% and 144%. It should be noted that these expectations are based on 11 months of trading and forecasts for the remainder of the financial year and may change once the full year's trading has concluded. Earnings and headline earnings per share are based on a weighted average number of shares in issue of 183 303 667 (December 2010: 198 961 975). The financial results for the year ended 31 December 2011 will be published on SENS by no later than 30 March 2012.
11-Nov-2011
(Official Notice)
Shareholders are referred to the announcement released on SENS on 27 September 2011, regarding the proposed special resolutions relating to:

*the provision of financial assistance (as defined in the Act) to a related company (as defined in the Act)or an inter-related company (as defined in the Act)in terms of section 45 of the Act;

*the payment of remuneration to the non-executive directors of the company for their services as directors in terms of section 66 of the Act for the year ending 31 December 2011; and

*an annual increase not exceeding 15% of the fees payable by the company to the non-executive directors of the company for their services as directors in terms of section 66 of the Act, which proposed special resolutions were submitted to shareholders of the company for consideration by written consent of shareholders in terms of section 60 of the Act.



Shareholders are advised that each of the proposed special resolutions were supported by written consent of persons entitled to exercise voting rights thereon and holding 79.03 % (seventy nine point zero three percent) of the voting rights in the company as at 3 October 2011 and accordingly each of the proposed special resolutions has been adopted by the company in terms of section 60(2) of the Act.



The company will deliver a statement in accordance with section 60(4) of the Act and notice in terms of section 45(5) of the Act to every shareholder recorded in the company register as at 3 October 2011.

27-Sep-2011
(Official Notice)
Shareholders were advised that the board of directors of Kaydav ("the board" or the "directors") has resolved (in terms of section 65(2) of the Companies Act, 2008 ("Act")) to propose special resolutions relating to:

*the provision of financial assistance (as defined in the Act) to a related company (as defined in the Act) or an inter-related company (as defined in the Act) in terms of section 45 of the Act, as Kaydav will be required from time to time to provide financial assistance to its subsidiaries and certain other companies and corporations as contemplated in terms of section 45(2) of the Act, in order for the company and its subsidiaries to carry on business;

*the payment of remuneration to Kaydav's directors for their services as directors in terms of section 66 of the Act, as Kaydav has historically (prior to the Act becoming effective) paid remuneration to its directors for their services as directors; and

*the annual increase of remuneration payable to Kaydav's directors for their services as directors not exceeding 15% for a period of 2 (two) years,



(the "proposed special resolutions") for consideration by written consent of shareholders in terms of section 60 of the Act.



Under the Companies Act the board of Kaydav has determined by resolution that the proposed special resolutions be considered by the shareholders of Kaydav by written consent in terms of section 60 of the Act. A letter together with the proposed special resolutions and a form of written consent ("the shareholder letter") was distributed to shareholders of Kaydav yesterday, 26 September 2011, which letter sets out the detailed action required to be taken by shareholders in respect of proposed special resolutions. The shareholder letter will also be available to be viewed on Kaydav's website www.kaydav.co.za from 28 September 2011.



The directors of the company have resolved that the record date for determining which shareholders are entitled to vote on the proposed special resolutions in terms of the written consent, shall be 3 October 2011, being the 7th (seventh) day following the date on which the shareholder letter was posted by registered post to shareholders of the company.
30-Aug-2011
(C)
Revenue for the period increased to R221.4 million (2010: R214.4 million). Gross profit rose to R68.6 million (2010: R65.2 million), operating profit grew slightly to R9.3 million (2010: R9 million), while total comprehensive income was higher at R5.8 million (2010: R3.4 million). Furthermore, headline earnings per share jumped to 3.2cps (2010: 1.6cps).



Prospects

Activity levels in the industry are determined by consumer demand which is impacted by consumers' personal debt levels, employment and willingness of financial institutions to extend credit. Management anticipates that the increase in lending by financial institutions as well as increased spending power of consumers will increase activity levels in our industry. Whilst this improvement is anticipated, the potential negative macro-economic effect of recent global events and the direction of future interest rate movements on our industry make the timing of any improvement uncertain. Management is focusing on increasing market share and effective cost and working capital control.



Distributions to shareholders

A distribution to shareholders by way of a reduction of share premium of 5.5 cents per share was made on 30 May 2011.
01-Aug-2011
(Official Notice)
KayDav advised shareholders that it is expecting earnings and headline earnings per share of between 3.0 and 3.2 cents for the six months ended 30 June 2011 compared to earnings and headline earnings per share of 1.6 cents for the six months ended 30 June 2010, representing an increase of between 88% and 100%. Earnings and headline earnings per share are based on a weighted average number of shares in issue of 183 566 511 (June 2010: 213 504 505). The financial results for the six months ended 30 June 2011 will be published on SENS by no later than 30 September 2011.
29-Apr-2011
(Official Notice)
Notice is hereby given that the board of directors of KayDav have resolved to make a capital reduction out of share premium of 5.5 cents per ordinary share in lieu of an ordinary dividend ("the cash distribution"). The cash distribution will be made out of the company?s share premium account pursuant to the general authority granted by KayDav shareholders to the board of directors to make payments to shareholders by way of a reduction of share capital or share premium, in lieu of an ordinary dividend at the annual general meeting of shareholders held on Thursday, 28 April 2011. In resolving to make any distribution to KayDav shareholders, the board of directors of KayDav consider, inter alia, the headline earnings, cash requirements, capital structure and future strategy of the KayDav group.



Working capital statement

The directors, after considering the effect of the cash distribution, are of the opinion that for a period of 12 months after the date of the notice of annual general meeting:

*the company and the group will be able, in the ordinary course of business, to pay its debts.

*the assets of the company and the group will be in excess of the liabilities of the company and the group.

*the share capital and reserves of the company and the group will be adequate for ordinary business purposes.

*the working capital of the company and the group will be adequate for ordinary business purposes.



Salient dates

*Last day to trade to be eligible to receive the cash distribution on -- Friday, 20 May 2011

*Shares trade 'ex' the cash distribution on -- Monday, 23 May 2011

*Record date for the cash distribution on -- Friday, 27 May 2011

*Cash distribution paid to shareholders on -- Monday, 30 May 2011



Notes:

Any change to the above dates will, subject to approval of the JSE Limited, be communicated to shareholders by notification on SENS and in the press. Shares may not be dematerialised or rematerialised between Monday, 23 May 2011 and Friday, 27 May 2011.

28-Apr-2011
(Official Notice)
Shareholders are advised that at the annual general meeting of shareholders of KayDav held on Thursday, 28 April 2011 (in terms of the notice of annual general meeting contained in the KayDav annual report issued on 31 March 2011) all of the resolutions tabled thereat were approved by the requisite majority of shareholders.
01-Apr-2011
(Official Notice)
Shareholders are advised that the company's annual report, incorporating the audited financial statements for the year ended 31 December 2010, was dispatched yesterday (31 March 2011) and contains no material changes to the audited results which were announced on SENS on Monday, 28 March 2011. The annual report contains a notice of annual general meeting, which will be held at 2 Arnold Road, Rosebank, Johannesburg, on Thursday, 28 April 2011 at 11h00.
28-Mar-2011
(C)
Revenue rose to R460.8million (R440.1 million). Operating profit decreased to R16.9 million (R18.3 million), but net attributable earnings improved slightly to R6.6 million (R6.5 million). In addition, headline earnings per share of 3.9 cents for the year ended 31 December 2010 is up 70% from the 2.3 cents for the previous corresponding period.



Outlook

Selling prices for wood based panels have increased at the beginning of the 2011 financial year. Manufacturers of wood based panels, who are by and large the price makers in the industry, are exposed to current cost push factors which have the potential to reverse the trend experienced during the 2010 financial year, when operating expense inflation exceeded selling price inflation by a significant margin. This has positive implications for the gross profit margins and nominal profitability of the group.



The global and local economic environment remains uncertain however and management is therefore cognisant of the potential for economic volatility. The group expects moderate growth for the 2011 financial year. Management is continuing its focus on increasing its market share and profitability while maintaining and improving working capital efficiency.
18-Mar-2011
(Official Notice)
In terms of the Listings Requirements of the JSE Limited ("JSE Listings Requirements"), companies are required to publish a trading statement as soon as they become aware that the financial results for the period to be reported upon next will differ by at least 20% or more from the financial results for the previous corresponding period. The group accordingly advises shareholders that it is expecting headline earnings per share of between 3.8 and 4.0 cents compared to headline earnings per share of 2.3 cents for the year ended 31 December 2009. Earnings per share of between 3.2 and 3.4 cents per share are expected, compared to 2.3 cents for the previous corresponding period.



Earnings are expected to be in line with the previous year's R6 505 388, while headline earnings are expected to be between 16% and 19% above the R6 541 413 reported for the year ended 31 December 2009. The company repurchased 52 548 900 KayDav ordinary shares between 1 January 2010 and 31 December 2010. The financial information on which this trading statement is based has not been audited or reviewed by the company`s auditors. The financial results for the year ended 31 December 2010 will be published on SENS by no later than 31 March 2011.

14 Jan 2011 17:14:23
(Official Notice)
Further to the announcement released by the company on 15 December 2010 advising shareholders of the termination of the sale of assets transaction and secondly advising shareholders of the sale of the Castle Timbers business to Cape Sawmills Properties (Pty) Ltd, shareholders are advised that caution is no longer required to be exercised when dealing in the company's securities.
15 Dec 2010 16:20:13
(Official Notice)
30 Nov 2010 17:43:39
(Official Notice)
11 Nov 2010 17:11:08
(Official Notice)
Shareholders are advised that KayDav has entered into negotiations which, if successfully concluded, may have a material effect on the price of KayDav's securities. Accordingly, shareholders are advised to exercise caution when dealing in KayDav's securities until a further announcement is made.
23 Sep 2010 17:02:50
(C)
Revenue for the period increased to R230.2 million (2009: R217.4 million). Gross profit was higher at R71.5 million (2009: R70.2 million), while operating profit decreased to R6.9 million (2009: R8.6 million). Total comprehensive income attributable to equity holders of the parent fell to R3.4 million (2009: R5.3 million). Furthermore, headline earnings per share was slightly lower at 1.6cps (2009: 1.8cps).



Dividends

No dividends were declared during the period under review.



Prospects

On a macro level much uncertainty still exists around the global and local economic prospects for the future. KayDav's industry is reliant on consumer demand which in turn is impacted on by amongst other factors personal debt levels, employment and the willingness of financial institutions to extend credit. In light of these macro issues the pace of recovery remains unclear. Having regard to this scenario, management remains focused on increasing market share and effective working capital control. The significant change in the capital structure of the group arising from the share repurchases augurs well for enhancing shareholder value in future.
30 Aug 2010 16:04:52
(Official Notice)
The group advised shareholders that it is expecting earnings and headline earnings per share of between 1.5 and 1.7 cents compared to earnings and headline earnings per share of 1.8 cents for the six months ended 30 June 2009. Earnings and headline earnings are however expected to be between 30% and 40% below the R5 334 901 and R 5 293 290 reported for the six months ended 30 June 2009 respectively. The company repurchased 110 646 443 KayDav ordinary shares between 1 July 2009 and 30 June 2010. The financial results for the six months ended 30 June 2010 will be published on SENS by no later than 30 September 2010.
24 Aug 2010 17:46:14
(Official Notice)
The company decided to restructure the board so as to achieve a balance between executive and non executive directors. As a result, the company advised shareholders that Jay Michael Katz and Geoffrey Davidson resigned as executive directors on 23 August 2010. Jay Michael Katz will remain in an executive management capacity at KayDav operating subsidiary KayDav Industries (Pty) Ltd, while Geoffrey Davidson will continue in a consulting and business development capacity.
13 Jul 2010 15:35:16
(Official Notice)
KayDav shareholders were referred to the circular dated 11 June 2010 ("the circular") containing details of the unconditional mandatory cash offer by collectively The Davidson Family Trust, Gary Davidson, Katzgold Trading - Investments (Pty) Ltd, Classic International Impex (Pty) Ltd and The David Brouze Trust, jointly and severally, ("the offerors") to KayDav shareholders to acquire all of their KayDav ordinary shares that the offerors did not already own for a cash consideration of 30 cents for every 1 KayDav ordinary share held ("the offer"). The offer closed on Friday, 9 July 2010 ("the closing date") and acceptances in respect of 283,986 KayDav ordinary shares, comprising 0.15% of the issued share capital of the company, were received by the offerors. As was published in the circular, The Davidson Family Trust and Gary Davidson ("the Davidsons") undertook to acquire any and/or all of the KayDav ordinary shares sold under the offer. Accordingly, the Davidsons' shareholding in KayDav has increased from 68 228 971 KayDav ordinary shares (equal to 36.96%) of the issued ordinary share capital of KayDav) to 68 512 957 KayDav ordinary shares (equal to 37.12% of the issued ordinary share capital of KayDav on the closing date). The remaining offerors' shareholdings in KayDav on the closing date are as follows:

* Katzgold Trading - Investments (Pty) Ltd holds no KayDav ordinary shares, having sold its entire shareholding comprising 38.93% of the issued ordinary share capital of KayDav to The David Brouze Trust (the "Katzgold sale"), as was disclosed in the circular;

* The David Brouze Trust holds 38.93% of the issued ordinary share capital of KayDav as a result of the Katzgold sale; and

* Classic International Impex (Pty) Ltd holds 1.37% of the entire issued ordinary share capital of KayDav.
14 Jun 2010 17:42:50
(Official Notice)
Shareholders are referred to the announcement released on SENS on Wednesday, 21 April 2010 and published in the press on Thursday, 22 April 2010, whereby it was announced that the specific repurchase of 22 600 000 KayDav shares from Stanlib Asset Management Ltd and the specific repurchase of 29 000 000 KayDav shares from Peregrine Equities Proprietary Ltd ("the specific repurchases") were implemented on 12 April 2010 and that Gary Davidson and The Davidson Family Trust were required by the Securities Regulation Panel ("SRP") to make a mandatory offer under the Securities Regulation Code on Takeovers and Mergers ("the Code") at the 30 cents price per KayDav share payable under the specific repurchases ("the offer").



During the preparation of the offer circular, it came to the attention of the company that in the context of implementing the specific repurchases (which triggered an affected transaction) and the sale by Katzgold Trading - Investments (Pty) Ltd ("Katzgold") to Classic International Impex (Pty) Ltd ("Classic")of its entire shareholding in KayDav, that each of The Davidson Family Trust, Gary Davidson, Katzgold, Classic and The David Brouze Trust (being the sole shareholder of Classic) ("the offerors") should appropriately be constituted the offerors under the offer. Accordingly, the offerors are required to make and have made an unconditional mandatory cash offer to acquire all of the KayDav shares not already owned by them for a purchase consideration of 30 cents for every one KayDav share held. Shareholders are advised that the requisite offer circular was posted to shareholders on Friday, 11 June 2010, and accordingly the offer is now open. The salient dates of the offer are set out below:

*Circular posted to KayDav shareholders -- Friday, 11 June 2010

*Opening date of the offer (09h00) -- Friday, 11 June 2010

*Last day to trade -- Friday, 2 July 2010

*Shares trade "ex" the offer -- Monday, 5 July 2010

*Record date/closing date of the offer (12h00) -- Friday, 9 July 2010

*Results of offer to be announced on SENS -- Monday, 12 July 2010

The above dates and times are subject to change. Any changes will be released on SENS and published in the press.
08 Jun 2010 16:42:10
(Official Notice)
Shareholders are advised that, at the annual general meeting of shareholders of KayDav held on Tuesday, 8 June 2010 (in terms of the notice of annual general meeting contained in the KayDav annual report issued on 18 March 2010) all of the resolutions were passed by the requisite majority of KayDav shareholders.
21 Apr 2010 09:03:33
(Official Notice)
31 Mar 2010 13:01:00
(Official Notice)
Shareholders are advised that the company's annual report, incorporating the audited financial statements for the year ended 31 December 2009, was dispatched today and contains no material changes to the audited results which were announced on SENS on Friday, 19 March 2010. The annual report contains a notice of annual general meeting, which will be held at 2 Arnold Road, Rosebank, Johannesburg, on Tuesday, 8 June 2010 at 10h00.
23 Mar 2010 16:36:36
(Official Notice)
Shareholders are referred to the announcement released by the company over SENS on 26 November 2009 and the circular issued to shareholders on 1 March 2010 ("the circular") detailing the terms and conditions of a specific repurchase of KayDav ordinary shares by the company from each of Stanlib Asset Management Ltd ("Stanlib") and Peregrine Equities (Pty) Ltd ("Peregrine Equities") ("the specific repurchases"). At the general meeting of KayDav shareholders held on Tuesday, 23 March 2010 (convened pursuant to the notice of general meeting contained in the circular), all of the resolutions proposed thereat including the special resolutions relating to the specific repurchase of 22 600 000 KayDav ordinary shares from Stanlib and 29 000 000 KayDav ordinary shares from Peregrine Equities, were approved by the requisite majority of shareholders. The special resolutions relating to the specific repurchases will be lodged for registration with the Registrar of Companies forthwith.



De-listing and cancellation of repurchased KayDav ordinary shares

Application shall be made to the JSE Ltd ("JSE") for the de-listing from the JSE of the KayDav ordinary shares to be acquired by KayDav pursuant to the specific repurchases, with effect from on or about Wednesday, 7 April 2010. Such ordinary shares shall be cancelled against registration of the repurchased KayDav ordinary shares into the name of the company.



Mandatory offer and further announcement

The implementation of the specific repurchases constitutes an "affected transaction" for the purposes of the Securities Regulation Code on Takeovers and Mergers ("the code") which gives rise to the requirement for certain shareholders who/which may be regarded by the Securities Regulation Panel as acting in concert to make a mandatory offer under the code at the 30 cents price per KayDav ordinary share payable under the specific repurchases ("the offer"). A further comprehensive announcement, regarding the offer, will be issued in due course.
19 Mar 2010 09:16:24
(C)
Revenue was up 5% to R461.2 million (R440.4 million). Gross profit rose to R144.9 million (R135.6 million). An operating profit of R14 million (loss of R88.2 million). Net attributable profit for the year amounted to R6.5 million (loss of R99.1 million). However, headline earnings on a per share basis was down 66% to 2.3cps (6.8cps).



Outlook

Management believes that as bank lending and residential construction activity resumes we can expect moderate sales growth and improved profitability in the ensuing financial year. The group will continue to focus on increasing its market share and profitability while maintaining and improving working capital efficiency. While the global and local economic environment remains uncertain, KayDav believes that the worst is behind us and that steady economic growth will continue beyond 2010.
26 Nov 2009 08:20:24
(Official Notice)
Shareholders are referred to the announcement released over SENS on 18 September 2009 pursuant to which it was announced that KayDav's board of directors had resolved to repurchase shares through the open market on the JSE trading system (the "share repurchase programme"). KayDav has repurchased KayDav ordinary shares under the share repurchase programme (amounting to in aggregate 59 046 443 KayDav ordinary shares)(the "general repurchases"). Shareholders are advised that KayDav has reached agreement with Stanlib Asset Management Ltd ("Stanlib") and Peregrine Equities (Pty) Ltd ("Peregrine Equities") that subject to the condition set out below, KayDav will repurchase 22 600 000 KayDav ordinary shares from Stanlib ("the Stanlib repurchase") and 29 000 000 KayDav ordinary shares from Peregrine Equities ("the Peregrine repurchase") at a price of 30 cents per share (the "specific repurchases").



Conditions

Each of the specific repurchases is subject to the passing by KayDav shareholders and registration of the requisite special resolution/s required for the specific repurchases.



Cancellation of shares

On their repurchase, the KayDav shares being repurchased under the specific repurchases (the "specified shares") will be cancelled and KayDav will make application to the JSE Ltd for the termination of the listing of the specified shares.



Circular

KayDav will send a circular to shareholders including a notice of a general meeting for the purpose of considering and if deemed fit approving all resolutions necessary to implement the specific repurchases.
25 Nov 2009 16:12:48
(Official Notice)
20 Oct 2009 09:08:11
(Official Notice)
Shareholders are referred to the announcement dated 22 September 2009 advising shareholders that KayDav had cumulatively repurchased 45 million of its own shares (comprising 15% of its issued share capital). Shareholders are now advised that the company has repurchased an additional 12 031 580 of its own shares, comprising 4% of its initial issued share capital, out of its available cash resources. The shares were repurchased for an aggregate price of R3 609 474 in the following tranches:

*6 762 464 on 2 October 2009 at 30 cents per share;

*50 000 on 13 October 2009 at 30 cents per share;

*269 461 on 15 October 2009 at 30 cents per share;

*4 949 655 on 16 October 2009 at 30 cents per share.

The repurchases were in terms of the general authority granted by shareholders on 26 June 2009 and were effected through the order book operated by the JSE trading system without any prior understanding or arrangement between the company and the counter parties. The shares will be de-listed and cancelled upon registration of the shares in the name of KayDav.
23 Sep 2009 09:14:55
(Official Notice)
Shareholders are advised that KayDav has cumulatively repurchased 45 million of its own shares (comprising 15% of its issued share capital) out of the company's available cash resources. The shares were repurchased for an aggregate price of R13 500 000 in the following tranches:

* 9 100 000 on 21 September 2009 at 30cps;

* 35 900 000 on 22 September 2009 at 30cps.

The repurchases were in terms of the general authority granted by shareholders on 26 June 2009 and were effected through the order book operated by the JSE trading system without any prior understanding or arrangement between the company and the counter parties. The shares will be de-listed and cancelled upon registration of the shares in the name of KayDav. KayDav is entitled to repurchase a further 14 046 543 shares (5 % of the shares in issue as at the date of the authority) in terms of the current general authority, which is valid until KayDav`s next annual general meeting.



The board of KayDav has considered the effect of the repurchases and is of the opinion that, for a period of 12 months following the date of this announcement:

* the company and the group will be able to repay their debts, in the ordinary course of business;

* the assets of the company and the group, will be in excess of the liabilities of the company and the group.

* the company's and the group's ordinary capital and reserves will be adequate for ordinary business purposes; and

* the company and the group will have sufficient working capital for ordinary business purposes.
18 Sep 2009 15:33:36
(Official Notice)
Shareholders are advised that pursuant to the general authority granted to Kaydav's board of directors, the board has resolved to repurchase shares of the company through the open market on the JSE trading system. Share repurchases will be made as from 21 September 2009 at prices and in quantities which are in the opinion of the board beneficial to the company.
01 Sep 2009 14:04:05
(C)
Excluding sales from new businesses opened during the second half of 2008, turnover for the six months ended 30 June 2009 was 12% below that of the previous corresponding period. The group's debtors' book deteriorated significantly during the six months to 30 June 2009. Due to the difficult trading environment the bad debt expense of R8.1 million was R5.9 million more than that of the corresponding prior period due largely to an increase in the provision for bad debts of R4.7 million. The decrease in sales activity and the increase in the bad debt expense had a significant negative impact on headline earnings. Headline earnings per share of 1.8c represents a decrease of 47% compared to headline earnings of 3.4c per share for the six months ended 30 June 2008.



Dividends

No dividends were declared during the period under review.



Prospects

Challenging conditions are predicted to persist throughout the current financial year with moderate growth envisaged during the 2010 financial year. Management's focus is the continued implementation of its strategy to increase the group's market share, improve effective working capital management and to achieve a higher return on capital employed.
27 Aug 2009 11:54:52
(Official Notice)
Shareholders are referred to the trading statement released by Kaydav on 17 August 2009 advising shareholders that Kaydav expects headline earnings per share to be between 40% and 50% below the 3.4 cents of the six months ended 30 June 2008. Shareholders are advised that Kaydav expects both earnings and headline earnings per share to be between 1.7 cents and 2.0 cents per share compared to a loss per share of 26.8 cents and headline earnings per share of 3.4 cents for the previous corresponding period. The financial results for the six months ended 30 June 2009 will be published on SENS by no later than 30 September 2009.
19 Aug 2009 12:51:36
(Official Notice)
Shareholders are referred to:

*the announcement released by the company on 28 May 2009 advising shareholders that the company had concluded an agreement (the "sale agreement") to dispose of its existing operations to a management-led consortium (the "consortium")and a co-terminus offer was to be made by KayDav to KayDav shareholders to repurchase KayDav shares for a buyback consideration of 38 cents per share (the "transaction"); and

* the cautionary announcement released on 7 August 2009 advising shareholders that the terms of the transaction were under discussion as between the consortium and the company.



Shareholders are advised that as required by the JSE Listings Requirements, the board of directors of the company appointed PSG Capital (Pty) Ltd ("PSG Capital") as independent expert to provide an opinion on the fairness of the transaction. PSG Capital has opined that in its view the terms of the transaction are neither fair nor reasonable.



The consortium has declined to increase the purchase price offered for KayDav's existing operations and the board, in the light of PSG Capital's opinion, has decided not to recommend the transaction to shareholders. Accordingly, the company and the consortium have consensually agreed to cancel the sale agreement and terminate the transaction. Shareholders are no longer required to exercise caution in dealing with their KayDav shares.
17 Aug 2009 11:14:44
(Official Notice)
The company accordingly advises shareholders that it is expecting headline earnings per share to be between 40% and 50% below the 3.4c of the six months ended 30 June 2008. The financial results for the six months ended 30 June 2009 will be published on SENS by no later than 30 September 2009.
07 Aug 2009 15:37:05
(Official Notice)
On 28 May 2009 an announcement was released by the company advising shareholders that the company had concluded an agreement to dispose of its existing operations to a management-led consortium and a co-terminus offer was to be made by KayDav to KayDav shareholders to repurchase KayDav shares for a buyback consideration of 38 cents per share (the "transaction"). Shareholders are advised that the terms of the transaction are currently under discussion as between the consortium and the company. The company expects to advise shareholders of the outcome of these discussions by Monday, 17 August 2009. Pending a further announcement shareholders are advised to exercise caution in dealing with their KayDav shares.
26 Jun 2009 11:57:42
(Official Notice)
At the annual general meeting of shareholders of KayDav held on Friday, 25 June 2009 all of the resolutions were passed by the requisite majority of KayDav's shareholders.
28-May-2009
(Official Notice)
Shareholders are referred to the cautionary announcement dated 28 January 2009, which cautionary announcement was renewed on 12 March 2009 and again on 23 April 2009. Shareholders are advised that the company has concluded an agreement with Rapicorp 168 (Pty)Ltd ("Newco"), a company established by a consortium of investors, including members of management led by the company's CEO, Mr Gary Davidson in terms of which the company will, subject to the fulfilment of the conditions precedent set out below, dispose of its wholly owned subsidiaries, Kaydav Industries (Pty) Ltd and Davidson's Holding Company (Pty) Ltd to Newco. Kaydav Industries and Davidson's comprise the operating subsidiaries of KayDav, housing the existing wooden board sale and distribution businesses owned by the company. Co-terminus with the implementation of the disposal, in order to afford KayDav shareholders the flexibility of a cash exit, KayDav will make an offer to all KayDav shareholders to repurchase KayDav shares for a cash consideration of 38cps. KayDav will dispose of its entire shareholding in and all claims on loan account against each of Kaydav Industries and Davidson's to Newco for an aggregate purchase consideration of R112 188 432. A circular containing details of the transaction, which circular will include an independent fairness opinion required in the context of the section 228 disposal, related party aspects of the transaction and the cash exit offer, will be sent to KayDav shareholders in due course.
23 Apr 2009 15:04:37
(Official Notice)
On 28 January 2009 a cautionary announcement was released by the company relating to the proposed disposal of KayDav's operations to a management-led consortium ("the consortium") and an offer to be made by KayDav to KayDav shareholders to repurchase KayDav shares for a buyback consideration of 38 cents per share (the "proposed transaction").



The consortium has informed KayDav that the consortium is well advanced in finalising its finance arrangements to permit the consortium to consummate a binding legal agreement with KayDav for the implementation of the proposed transaction (which agreement will be conditional on shareholder and other regulatory approvals). Pending further announcements, shareholders are advised to continue to exercise caution in dealing with their KayDav shares.
03 Apr 2009 16:02:37
(Official Notice)
Shareholders are advised that the company's annual report, incorporating the audited financial statements for the year ended 31 December 2008, was dispatched today and contains no material changes to the audited results which were announced on SENS on Tuesday, 17 March 2009. The annual report contains a notice of annual general meeting, which will be held at 2 Arnold Road, Rosebank, Johannesburg, on Thursday, 26 June 2009 at 10:00.
17 Mar 2009 17:23:36
(C)
The group's turnover and headline earnings are 8% and 42% below forecasted numbers respectively. Initial pre-tax losses incurred on new ventures amounted to R3 877 499. Headline earnings per share for the year of 6.8c compares to headline earnings of 11.8c per share as per the forecast published in the group's prospectus.



Prospects

Castle Timbers commenced operations during the latter half of 2008. This business, whilst timber related, is a new venture for KayDav in that it focuses on solid wood products as opposed to the group's traditional wood-based panels. The new Davidson's stores are trading profitably while Castle Timbers has reached breakeven turnover. These ventures gained market share for the group during the year under review. The outlook for the foreseeable future remains uncertain. Management is of the opinion that current conditions will persist throughout the 2009 year with some improvement in 2010.
16 Mar 2009 16:55:33
(Official Notice)
Shareholders are advised that as a result of impairment to goodwill during the current reporting period, the company expects to report a loss per share for the year ended 31 December 2008 of between 30 and 35 cents compared to earnings per share of 1.3 cents reported in respect of the previous corresponding period. Headline earnings are expected to be between 6 and 7 cents per share compared to headline earnings of 1.4 cents in respect of the previous corresponding period. Shareholders are reminded that the financial results for the previous corresponding period relate to only a four month trading period. The audited financial results for the year ended 31 December 2008 will be published on SENS by no later than 31 March 2009.
12 Mar 2009 09:16:45
(Official Notice)
On 28 January 2009 a cautionary announcement was released by the company relating to the proposed disposal of Kaydav's existing operations to a management-led consortium and a co-terminus offer to be made by KayDav to KayDav shareholders to repurchase KayDav shares for a buyback consideration of 38cps (the "proposed transaction"). Shareholders are advised that negotiations to consummate the proposed transaction are currently in progress. Accordingly, pending further announcements, shareholders are advised to continue to exercise caution in dealing with their KayDav shares.
28 Jan 2009 12:06:01
(Official Notice)
Shareholders are advised that a consortium, including members of management led by the company's Chief Executive Officer, Mr Gary Davidson, acting through a newly incorporated company have submitted to the company a nonbinding expression of interest for the acquisition of the existing wooden board sale and distribution business owned by the company and/or its operating subsidiaries.



Salient terms and conditions of the proposed transaction

The expression of interest proposes the disposal of existing operations to Newco as a going concern for an aggregate purchase price of R112 188 432 to be discharged as follows:

*By Newco procuring delivery to KayDav of 100 million KayDav ordinary shares in discharge of R38 million of the purchase consideration (attributing a value of 38 cents per KayDav ordinary share) and which shares will be bought back by KayDav pursuant to the specific repurchase provisions of the JSE Listings Requirements and the buy-back provisions of the South African Companies Act;

*The balance of purchase consideration (in the amount of R74 188 432) to be discharged as to: - R38 188 432 in cash, R36 000 000 by way of delivery of a secured R36 million loan note to KayDav. The loan note shall not bear interest and shall be payable on 30 June 2009.

It is proposed that coterminous of the implementation of the sale transaction, KayDav will make an offer to all KayDav shareholders to repurchase KayDav shares for a consideration of 38 cents per share so as to afford KayDav shareholders the flexibility of a cash exit.
18 Sep 2008 17:01:25
(C)
The group faced considerable challenges during the period resulting from the general slowdown in the economy, rising interest rates, electricity supply issues and the effect of the National Credit Act on bank lending. Due to the contraction in business activity the Group has not achieved its growth forecasts. Headline earnings per share for the period of 3.4c compares to headline earnings of 5.3c per share as per the pro forma financial information for the corresponding prior period.



Dividends

No dividends were declared during the current period.



Prospects

The group has opened a board wholesale and retail business trading under the Davidson's Discount Boards brand in Silverton, Pretoria. The business commenced trading in August 2008 and has exceeded its forecast turnover for the first month of operations. A new business called Castle Timbers was established to manufacture solid wood products. The initial set-up of this business in the Western Cape is complete and trading commenced during September 2008. In general the outlook for the economy remains difficult in the short term as consumer spending continues to be under pressure. Despite the above management is confident that the group is well positioned to overcome these challenges through focused implementation of its strategy.
16 Sep 2008 14:05:16
(Official Notice)
The Kaydav prospectus issued on 1 November 2007 contains audited financial statements for the six months ended 30 June 2007, (but these financials were prior to the acquisition of the operating businesses that make up Kaydav and are hence of limited value from a comparative perspective), and pro forma financial information for the six months ended June 2007 incorporating the results of the operating businesses acquired.



The company anticipates that headline earnings per share will be between 3.3 and 3.5 cents per share for the six months ended June 2008 as compared with 5.3 cents reported in the pro forma financial information and the loss of 410.302 cents per share in the audited financials statements for the corresponding prior period.



The company has impaired goodwill during the current reporting period, resulting in an expected loss per share for the six months ended June 2008 of between 25 and 30 cents per share compared to earnings per share of 5.3 cents in the pro forma financial information and the loss per share of 410.302 cents in the audited financial statements for the corresponding prior period. The financial results for the six months ended 30 June 2008 will be published on SENS by no later than 30 September 2008.
21 Apr 2008 15:42:42
(Official Notice)
Shareholders are advised that the company's annual report, incorporating the audited financial statements for the four month period ended 31 December 2007, has been dispatched and contains no material changes to the audited results which were announced on SENS on Friday, 28 March 2008. The annual report contains a notice of annual general meeting, which will be held at 2 Arnold Road, Rosebank, Johannesburg, on Thursday, 26 June 2008 at 10h00.
28 Mar 2008 14:24:12
(C)
Revenue amounted to R103.8 million for the four months to 31 December 2007. Operating profit and profit attributable to ordinary shareholders were recorded at R5.8 million and R2.8 million, respectively. Headline earnings per share came in at 1.4cps.



Dividend

No dividend has been declared for the period under review.



Prospects

Kaydav is faced with a general slowdown in economic growth and while the firm's industry is not insulated from these effects, as a group Kaydav looks toward entering new geographical areas to provide significant earnings growth. Management is at an advanced stage of investigating these opportunities for expansion. Kaydav is comfortable that it is on course to achieve earnings to the order of those forecasted in the prospectus.
19 Mar 2008 12:43:30
(Official Notice)
Shareholders are advised that, for the four months ending 31 December 2007, the company anticipates earnings per share to be between 80% and 100% higher and headline earnings per share to be between 100% and 120% higher than the forecast. The financial results announcement for the four months ended 31 December 2007 will be published on SENS by no later than 31 March 2008.
20-Apr-2017
(X)
KayDav Group Ltd (KayDav or the Group), a public company incorporated and domiciled in South Africa, is a trading and distribution company operating in the wood-based panel and packaging industries.



Wood-based panels are manufactured through the compression of wood waste into solid panels. These panels have a variety of applications in the construction, furniture manufacturing and shopfitting?industries. Packaging consumables and machinery are those products and machines which cater for a wide variety of packaging requirements in the industrial, agricultural and commercial sectors.



The Group is the largest distributer of wood-based panels in South Africa with an extensive network of outlets in the Western Cape, Southern Cape, KwaZulu- Natal and Gauteng. The trading names Kayreed Board and Timber (Kayreed) and Davidson?s Discount Boards (Davidson?s) are the two brand names servicing the panel market.



The Board Distribution and Adaptation segment is predominantly focused on bulk distribution. Added value services such as cutting and edging are offered at all outlets except Southern Cape and KwaZulu- Natal. It predominantly supplies the furniture, shopfitting and kitchen manufacturing and installation industries, while also supplying significant quantities to other wood-based panel distributors.



The Group?s packaging business has outlets in the Western Cape and Gauteng. The trading name for this business is Packit Packaging Solutions (Packit). The business is a distributor of both machinery and consumables to a wide variety of customers, including manufacturers, agriculture, home industries and small businesses. Packit has a retail store at the Western Cape outlet servicing walkin trade.


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