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24-Oct-2018
(C)
Revenue for the interim period went up 11% to R1.4 billion (R1.2 billion) whilst operating profit shot up to R71.3 million (R22.5 million). Total comprehensive income for the period attributable to owners multiplied to R44.6 million (R7.5 million). Furthermore, headline earnings per share jumped 485% to 31.6 cents per share (5.4 cents per share).



Dividend

The board resolved to declare a gross interim dividend for the six months ended 31 August 2018, of 13 cents per ordinary share which will be paid out of distributable reserves.



Company prospects

It is expected that poor growth and high unemployment rates coupled with the recent hikes in fuel prices will constrain consumer disposable income and associated demand over the festive season. Despite these economic difficulties, management has implemented a range of initiatives to mitigate these challenges. In addition, these challenges should be offset by the growth in the customer base. Accordingly, the Board anticipates that second half earnings will at least be maintained resulting in an improvement in earnings for the 2019 financial year.



The Group continues to pursue acquisition opportunities that will complement and improve revenue streams in the existing divisions.
12-Oct-2018
(Official Notice)
In the interim period ended 31 August 2018, the company benefitted from increased volumes from certain existing and new customers. The associated increased revenue and restructured overhead costs resulted in earnings growth. In addition, the once-off BEE equity transaction costs, which were incurred in the company?s previous interim reporting period ended 31 August 2017, had a negative effect on the prior period?s earnings. Consequently, the comparative headline and basic earnings per share figures were reduced. Accordingly, shareholders are advised that headline earnings per share for the interim period ended 31 August 2018 will be higher than that achieved in the previous corresponding period. This translates to headline earnings per share ranging from 31.3 to 32.4 cents per share in relation to the comparative period (5.4 cents per share). In addition, basic earnings per share for the interim period ended 31 August 2018 will be higher than that achieved in the previous corresponding period. This translates to basic earnings per share ranging from 29.8 to 30.7 cents per share in relation to the comparative period (4.8 cents per share).



Excluding the once-off BEE equity transaction cost incurred in the previous period, normalised headline earnings per share for the interim period ended 31 August 2018 will be 70% to 90% higher than that achieved in the previous corresponding period. This translates to normalised headline earnings per share ranging from 30.3 to 33.8 cents per share in relation to the comparative period (17.8 cents per share).



The financial results, on which this trading update has been based, have not been reviewed nor reported on by Value?s auditors. The results for the 6 months ended 31 August 2018 will be published on or about 24 October 2018.
03-Aug-2018
(Official Notice)
Shareholders are advised that at the Annual General Meeting (?AGM?) of Value held on 3 August 2018, all resolutions as set out in the notice of the AGM were passed by the requisite majority of members.
03-Jul-2018
(Official Notice)
In accordance with paragraph 16.20 (g) and Appendix 1 to Section 11 of the JSE Listing Requirements, notice is hereby given that the Company?s annual compliance report in terms of section 13G(2) of the Act has been published and is available on the Company?s website at www.value.co.za.

29-Jun-2018
(Official Notice)
Shareholders are advised that the company?s annual financial statements for the year ended 28 February 2018 will be posted to shareholders on 29 June 2018 and contains no modifications to the reviewed results which were published on SENS on 10 May 2018. Baker Tilly SVG audited these results and the annual financial statements of the company and their reports are available for inspection at the registered offices of the company.



Notice is hereby given that the annual general meeting of the company will be held on Friday, 3 August 2018 at 10h30, at the Value boardroom, Value City, Essex Road, Tunney, Germiston, to transact business as stated in the notice of the annual general meeting. The record date on which shareholders must be registered to be entitled to vote at the annual general meeting is Friday, 27 July 2018.
10-May-2018
(C)
Revenue for the year grew by 2% R2.513 billion (2017: R2.469 billion). Gross profit decreased to R787 million (2017: R815.6 million) and operating profit lowered to R136.4 million (2017: R143.3 million). Total comprehensive income for the year attributable to owners decreased to R83.3 million (2017: R88.1 million). Furthermore, headline earnings per share lowered by 5% to 58.7 cents per share (2017: 61.9 cents per share).



Declaration of dividend of number 23

The board resolved to declare a gross final dividend for the year ended 28 February 2018, of 22 cents per ordinary share which will be paid out of distributable reserves. The dividend is covered 2.4 times by second half headline earnings (prior to BBBEE transaction costs).



Company prospects

The recent change in the leadership of the ANC has invoked positive sentiment in the economy. However, marginal volume improvement in only a few of the existing customers continues to highlight ongoing pressure on pricing and growth rates. Nonetheless, the Group has procured new business in its distribution segment which should curtail any further decline in volumes. The remaining logistics divisions are operating according to expectation. An improvement in revenue off a reduced cost base, including reduced debt levels and strong cash flows, should contribute to an improvement in earnings in the new financial year. This statement has not been reviewed nor audited by the Group?s auditors.



The incorporation of Key?s core operations into Value?s Johannesburg facility has enabled the rapid expansion of Key?s business. Now that the business is settled, management will focus on extracting synergies and cost savings. In addition, progress has been made in expanding the business into new markets and areas.



The Group continues to pursue acquisition opportunities that will complement and improve revenue streams in the existing divisions.

09-May-2018
(Official Notice)
On 8 May 2018, the company cancelled and de-listed 9 618 378 ordinary shares.



These shares were acquired as part of a general repurchase by a subsidiary company in terms of the general authority to repurchase shares approved by the shareholders of the company at the AGMs held on 27 September 2007, 16 October 2016 and 21 July 2017.



The shares cancelled represent 5.16% of the issued share capital of the company immediately prior to such cancellation. Following the cancellation, the issued share capital of the company will now comprise 176 809 100 ordinary shares of 0.1 cent.
23-Apr-2018
(Official Notice)
The 2018 financial year was characterised by a stagnant economy, political uncertainty and poor growth rates which impeded pricing and volumes in certain divisions of the Group. This negative trend was reversed by the ongoing focus on reducing the Group?s cost base and partial improvement in volumes towards the end of the financial year. The retail logistics business of Key Distributors performed to expectation. The current period?s results however, were impacted by the once off BBBEE equity transaction costs amounting to R19 million as illustrated in the Group?s interim results dated 18 October 2017.



Shareholders are accordingly advised that basic and headline earnings per share for the year ended 28 February 2018 will be 10% lower to 10% higher than that achieved in the previous corresponding period. This translates to basic earnings per share ranging from 51.5 to 62.9 cents per share in relation to the comparative period, 28 February 2017, (57.2 cents per share) and headline earnings per share ranging from 55.7 to 68.1 cents per share in relation to the comparative period (61.9 cents per share).



Excluding the once off BBBEE equity transaction costs, adjusted headline earnings per share for the year ended 28 February 2018 will be 5% to 25% higher than that achieved in the corresponding period. This translates to adjusted headline earnings per share ranging from 65 to 77.4 cents per share in relation to the comparative period, 28 February 2017, (61.9 cents per share).



Further information will be provided in the results announcement for the year ended 28 February 2018 which will be published on or about 11 May 2018.
18-Oct-2017
(C)
Revenue for the interim period went up 2% to R1.23 billion (R1.2 billion). whilst gross profit lowered to R376.8 million (R390.9 million). Operating profit fell 36% to R22.5 million (R35.4 million). Net profit for the period attributable to owners tumbled to R7.4 million (R20.9 million). In addition, headline earnings per share took a 63% knock to 5.4 cents per share (14.4 cents per share).



Dividend (Number 22)

The board resolved to declare a gross interim dividend for the six months ended 31 August 2017, of 8 cents per ordinary share which will be paid out of distributable reserves. The dividend is covered 2.2 times by normalised headline earnings (prior to BEE transaction costs).



Company prospects

South Africa?s economic and political challenges continue to hamper GDP recovery. Consumers are financially stressed. This does not bode well for an improvement in the economy in the short term. Traditionally, the Group?s earnings in the second half improve due to increased volumes and activity over the festive season. The anticipated procurement of new accounts in the second half is expected to offset the volume decline in the breakbulk operations. Management is actively pursuing further revenue growth opportunities to counteract the negative volume trend. The other divisions of Value are operating in accordance with expectation. Additional restructuring opportunities are being pursued to extract savings in operational and overhead costs. The Group?s reduced cost base positions it favourably to benefit from any increases in revenue. With the increase in activity in the second half, cash flows are expected to remain robust.



The incorporation of Key?s core operations into Value?s Johannesburg facility has enabled the rapid expansion of Key?s business. Now that the business is settled, management will focus on extracting synergies and cost savings. In addition, plans are in progress to expand the business into areas currently not serviced.



The Group continues to pursue acquisition opportunities that will complement and improve revenue streams in the existing divisions.
06-Oct-2017
(Official Notice)
The stagnant economy, political uncertainty and poor growth rates continue to impede pricing and volumes in certain divisions of the Group. This negative trend has been countered by the ongoing focus on reducing the Group?s cost base which has yielded positive results. The retail logistics business of Key Distributors has performed well with positive growth in revenue and profit. The current period?s results however, have been impacted by the once off BBBEE equity transaction costs as illustrated in the Group?s circular dated 22 June 2017.



Shareholders are accordingly advised that basic and headline earnings per share for the six months ended 31 August 2017 will be 50% to 70% lower than that achieved in the previous corresponding period. This translates to basic earnings per share ranging from 4.1 to 6.8 cents per share in relation to the comparative period (13.5 cents per share) and headline earnings per share ranging from 4.4 to 7.2 cents per share in relation to the comparative period (14.4 cents per share).



Excluding these once off BBBEE equity transaction costs, adjusted headline earnings per share for the six months ended 31 August 2017 will be 10% to 30% higher than that achieved in the corresponding period. This translates to adjusted headline earnings per share ranging from 15.9 to 18.7 cents per share in relation to the comparative period (14.4 cents per share).



Further information will be provided in the results announcement for the six months ended 31 August 2017 which will be published on or about 18 October 2017.
21-Sep-2017
(Official Notice)
Shareholders are advised that in accordance with paragraph 16.20 (g) and Appendix 1 to Section 11 of the JSE Listing Requirements, the company?s annual compliance report in terms of section 13G(2) of the Broad-Based Black Empowerment Amendment Act 46 of 2013, has been published and is available on the company?s website at www.value.co.za
21-Jul-2017
(Official Notice)
Shareholders are advised that, at the annual general meeting of Value held on Friday, 21 July 2017, all resolutions as set out in the notice of the Annual General Meeting (?AGM?) were passed by the requisite majority of members.
21-Jul-2017
(Official Notice)
Shareholders are advised that, at the General Meeting of Value Group held on Friday, 21 July 2017 the ordinary and special resolutions relating to the proposed amendment to the 2010 B-BBEE Transaction in terms of which the maturity date thereof is being extended by 5 years from the 7th anniversary of the 2010 B-BBEE Transaction effective date to the 12th anniversary thereof, were passed on a poll by the requisite majorities. The Phosa SPV and Padiyachy SPV and their associates, holding 21,278,520 ordinary shares and the Value Group Empowerment Trust, and their associates, holding 10 429 010 A shares were precluded from voting in accordance with the JSE Listings Requirements.
22-Jun-2017
(Official Notice)
Value shareholders (?Shareholders?) are referred to the announcement released by Value on SENS dated Thursday, 1 5 June 2017, relating to the proposed amendment to Value?s 2010 Black Economic Empowerment transaction (? the Proposed B-BBEE Transaction Amendment?). Shareholders are hereby advised that a circular containing, inter alia, details of the Proposed B-BBEE Transaction Amendment, a notice of general meeting of Shareholders (?General Meeting?), and forms of proxy will be posted to Shareholders on 22 June 2017 and is available on Value?s website at www.value.co.za (the ?Circular?).



The purpose of the Circular is to:

- provide Shareholders with detailed information regarding the Proposed B-BBEE Transaction and the manner in which it will be implemented; and

- convene a General Meeting to consider and, if deemed fit, approve with or without modification, the resolutions relating to the Proposed B-BBEE Transaction as set out in the notice of General Meeting incorporated in the Circular.



Notice of general meeting

The General Meeting of Shareholders will be held in held at 11:00 on Friday 21 July 2017, in the Value Group boardroom, Value City, Essex Road, Tunney, Germiston, for the purpose of considering and, if deemed fit, passing, with or without modification, the resolutions set forth in the notice of General Meeting incorporated in the Circular.
22-Jun-2017
(Official Notice)
Shareholders are advised that the company?s annual financial statements for the year ended 28 February 2017 will be posted to shareholders on 22 June 2017 and contains no modifications to the reviewed results which were published on SENS on 11 May 2017. Baker Tilly SVG audited these results and the annual financial statements of the company and their reports are available for inspection at the registered offices of the company.



Notice is hereby given that the annual general meeting of the company will be held on Friday, 21 July 2017 at 10h00, at the Value boardroom, Value City, Essex Road, Tunney, Germiston, to transact business as stated in the notice of the annual general meeting.
15-Jun-2017
(Official Notice)
11-May-2017
(C)
Revenue for the year increased to R2.5 billion (2016: R2.0 billion). Gross profit was recorded at R807.7 million (2016: R798.4 million). Operating profit was higher at R135.4 million (2016: R85.6 million). Total comprehensive income for the year attributable to owners rose to R88.1 million (2016: R55.3 million). In addition, headline earnings per share shot up to 61.9 cents per share (2016: 37.2 cents per share).



Declaration of dividend number 21

The board resolved to declare a gross final dividend for the year ended 28 February 2017, of 18 cents (2016: 12 cents) per ordinary share which will be paid out of distributable reserves. The dividend is covered 2,64 times by second half headline earnings.



Company prospects

The recent downgrade of the country?s sovereign credit rating by the major credit rating agencies to junk status, political uncertainty and poor growth rates do not bode well for a short term improvement in the economy. The logistics break bulk and freightpak operations are experiencing volume decline. Management, however, is actively pursuing organic and acquisitive revenue growth opportunities to counteract the decline. The remaining divisions are operating in accordance with expectation. Further restructuring opportunities are being pursued to reduce operational and overhead costs. The significant cost cutting exercise undertaken to date, places the Group in a favourable position to benefit from any increase in revenue streams which may materialise.



Key?s operations have recently been incorporated into Value?s Johannesburg facility. Value?s facility will provide Key with the infrastructure requirements to expand its volumes and extract synergies and cost savings between the two businesses. The existing Key facility in Johannesburg will be sold. Key has further potential to grow into areas not currently serviced.



The group continues to pursue acquisition opportunities that will complement and improve revenue streams in the existing divisions.

21-Apr-2017
(Official Notice)
Trading conditions in the logistics environment are extremely challenging. Poor growth rates, in addition to the termination of non profitable business, have reduced the Group?s volume base. Certain competitors continue to discount rates to non sustainable levels. Consequently a major restructuring exercise within the Logistics, truck rental, warehouses and Freightpak breakbulk operations was undertaken with the objective of reducing operating and overhead costs. In addition, rates were carefully evaluated and adjusted where required. The positive effect of this restructuring was successfully rolled out across the Group with the specific objective of reducing the cost base. Although volumes and activity increased in the second half compared to the first half, the reduced cost base contributed to an improvement in the Group?s results. In addition, the acquisition of Key Distributors (Pty) Ltd, effective 1 March 2016, has performed positively. Considering margins are low, the business has outperformed expectations and continues to expand into new markets.



Shareholders are accordingly advised that basic and headline earnings per share for the year ended 28 February 2017 will be 55% to 75% higher than that achieved in the previous corresponding period. This translates to basic earnings per share ranging from 54.9 to 62.0 cents per share in relation to the comparative period (35.4 cents per share) and headline earnings per share ranging from 57.7 to 65.1 cents per share in relation to the comparative period (37.2 cents per share).



The financial results, on which this trading update has been based, have not been reviewed nor reported on by Value?s auditors. Further information will be provided in the results announcement for the year ended 28 February 2017 which will be published on or about 11 May 2017.





19-Oct-2016
(Official Notice)
Shareholders are advised that, at the annual general meeting of Value held on 19 October 2016, all resolutions as set out in the notice of the annual general meeting were passed by the requisite majority of members.
19-Oct-2016
(C)
Revenue for the interim period grew 21% to R1.2 billion (R1.0 billion) whilst gross profit lowered to R387.0 million (R392.5 million). Operating profit jumped 30% to R35.4 million (R27.2 million). Total comprehensive income for the period attributable to owners shot up to R21.0 million (R16.2 million). In addition, headline earnings per share were 31% higher at 14.4 cents per share (11.0 cents per share).



Dividend

The board resolved to declare a gross interim dividend for the six months ended 31 August 2016, of 6 cents per ordinary share which will be paid out of distributable reserves.



Prospects

Political uncertainty, low economic growth and the prospect of a ratings downgrade do not bode well for an improvement in the economy. In line with prior years, however, the Group anticipates an increase in second half volumes due to festive season trade. Volumes within the Key business are also expected to increase. In addition, ongoing cost savings, as highlighted above, are bearing positive results. In order to extract further savings, various facilities, including Key?s, are under investigation for consolidation into strategic remaining facilities. Consequently, increased activity and cost savings initiatives should contribute positively to the Group?s financial position.



The Group continues to pursue acquisition opportunities that will complement and improve revenue streams in the existing divisions.
11-Oct-2016
(Official Notice)
Trading conditions in the logistics environment continue to be extremely challenging. Poor growth rates have driven down volumes which have translated to non-profitable rates being offered by certain competitors. A restructuring exercise within the Logistics and Freightpak breakbulk operations was undertaken with the objective to reduce overheads and cut direct operating costs. In addition, rates have been carefully evaluated and adjusted where required. The effect of this restructuring has gained traction across other operations within the Group which has resulted in the achievement of a reduced cost base towards the end of the interim period. This ongoing restructuring exercise has translated to a positive improvement in certain segments within the Group. The acquisition of Key Distributors effective 1 March 2016 has contributed positively to results. Although margins are low, the business has outperformed expectations and continues to undergo rapid expansion into new markets.



Shareholders are accordingly advised that basic and headline earnings per share for the interim period ended 31 August 2016 will be 25% to 40% higher than that achieved in the previous corresponding interim period. This translates to basic earnings per share ranging from 12.6 to 14.1 cents per share in relation to the comparative period (10.1 cents per share) and headline earnings per share ranging from 13.8 to 15.4 cents per share in relation to the comparative period (11.0 cents per share).



Further information will be provided in the results announcement for the 6 months ended 31 August 2016 which will be published on or about 19 October 2016.
14-Sep-2016
(Official Notice)
The JSE informed stakeholders of the following findings by the JSE in respect of Dr Phosa:

* The JSE has found Dr Phosa, in his capacity as a director of Value Group, to be in breach of paragraphs 3.65 and 3.66 of the JSE Listings Requirements which states:

"3.65 - Any director who deals in securities relating to the issuer is required to disclose the information required by paragraph 3.63 to the issuer without delay and, in any event, by no later than three business days after dealing. The issuer must in turn announce such information without delay and, in any event, by no later than 24 hours after receipt of such information from the director concerned;"

and

"3.66 - A director (excluding any of his/her associates) may not deal in any securities relating to the issuer without first advising the chairman (or one or more other appropriate directors designated for this purpose) in advance and receiving clearance from the chairman or other designated directors."

* On 6, 7 and 11 August 2015 and as announced on SENS on 9 February 2016, Dr Phosa traded in Value Group securities without the required clearance and he failed to disclose the trades timeously.

* The JSE has decided to impose this public censure against Dr Phosa in relation to the above mentioned breaches of the Listings Requirements.
25-Aug-2016
(Official Notice)
Shareholders are advised that the company?s annual financial statements for the year ended 29 February 2016 was posted to shareholders on 25 August 2016 and contains no modifications to the reviewed results which were published on SENS on 11 May 2016. Baker Tilly SVG audited these results and the annual financial statements of the company and their reports are available for inspection at the registered offices of the company.



Notice is hereby given that the annual general meeting of the company will be held on Wednesday, 19 October 2016 at 10h00, at the Value boardroom, Value City, Essex Road, Tunney, Germiston, to transact business as stated in the notice of the annual general meeting.
11-May-2016
(C)
Revenue for the year rose to R2.1 billion (R2.0 billion). Gross profit grew to R806.0 million (R779.5 million). Operating profit lowered to R89.3 million (R108.7 million). Total comprehensive income for the year decreased to R54.6 million (R68.1 million). In addition, headline earnings per share took a knock to 37.2 cents per share (44.2 cents per share).



Dividend (Number 19)

The Group?s cashflows are expected to remain positive. Accordingly, the Board resolved to maintain and declare a gross final dividend of 12 cents per ordinary share which will be paid out of distributable reserves for the year ended 29 February 2016.



Prospects

The current economic environment is not expected to improve in the 2017 financial year. Increased interest rates, poor projected growth and a depreciated exchange rate does not bode well for inflation nor consumer spend. These factors will contribute to cost escalations, reduce consumption and compound pressure on existing volumes. However, to counter these adverse market factors, it is anticipated that the restructuring and resizing of the Logistics and Freightpak operations will contribute positively in the future. In addition, capital expenditure for the 2017 financial year will be materially reduced. This will facilitate a reduction in interest bearing debt.



The Group continues to pursue acquisition opportunities that will compliment and improve revenue streams in the existing divisions. The acquisition of Key Distributors (Pty) Ltd will open up new markets and opportunities for the Group.

Key?s current food products and related goods will be expanded nationally by leveraging off its successful formula, know-how and skills base. Synergies with Value?s infrastructure are expected to materialise. It is expected that Key will contribute positively to the Group.
05-May-2016
(Official Notice)
In terms of section 45(5)(a) of the Act, notice is hereby given that the board of directors of the company pursuant to a board resolutions adopted on 18 April 2016 authorised the company to provide financial assistance (as detailed below), in terms of section 45 of the Act, to its subsidiary company, Value Logistics Ltd. pursuant to the authority granted to the board by shareholders at the annual general meeting of the company held on 21 October 2015.



The board of directors, before authorising the company to provide the financial assistance in terms of section 45 of the Act, has satisfied itself:

* immediately after providing the financial assistance, the company would satisfy the solvency and liquidity test contemplated in section 4 of the Act;

* there has been due compliance with the requirements of the company?s constitutional documents or other founding documents and with the Act; and

* the terms upon which financial assistance is to be given are fair and reasonable to the company.



The provision of financial assistance arose as a result of the company approving a subordination agreement in favour of The Standard Bank of South Africa Ltd. (?SBSA?), pursuant to a loan agreement entered into between SBSA and Value Logistics Ltd., a subsidiary of the company, in terms of which the company subordinates its claims against Value Logistics Ltd. in the event of a default by Value Logistics Ltd. in respect of the SBSA loan.
24-Feb-2016
(Official Notice)
Shareholders are referred to the SENS announcement dated 18 December 2015, whereby shareholders were advised that the company had entered into a binding agreement (?The Agreement?) to acquire 100% of the ordinary share capital of Key from Mr G.C. Peters, Mr W. Barnard, Mr B. Johnson and Mr J. Colyn.



Shareholders are advised that the conditions precedent to the agreement have now been fulfilled and the transaction is accordingly unconditional.



18-Dec-2015
(Official Notice)
22-Oct-2015
(Official Notice)
Shareholders are advised that, at the annual general meeting of Value held on 21 October 2015, all resolutions as set out in the notice of the annual general meeting were passed by the requisite majority of members.
21-Oct-2015
(C)
Revenue for the interim period was higher at R999.8 million (R984.9 million). Gross profit rose to R395.8 million (R363.8 million). Operating profit jumped to R28.0 million (R16.0 million). Total comprehensive income for the period attributable to owners shot up to R16.2 million (R5.8 million). In addition, headline earnings per share multiplied to 11.0 cents per share (4.9 cents per share).



Dividend Number 18

Consistent with the comparative prior period, the board resolved to declare a gross interim dividend of 5 cents per ordinary share which will be paid out of distributable reserves.



Prospects

Given the current economic environment characterised by poor growth, the decline in the currency?s exchange rate, increased interest rates and the resultant drop in consumer sentiment, the Group does not expect volume growth from its existing customer base. Due to seasonality of trading activity and the procurement of new customers, volumes are expected to increase over the remaining 6 month period. In addition, cost saving initiatives, highlighted above, are bearing positive results. This forecast has not been audited nor reviewed by the Group?s auditors.



On 1 March 2015, the Group acquired a majority stake, amounting to an 80% ownership interest, in the business of Nucleus Chain Stores (Pty) Ltd. This business has been renamed in the current period to Core Logistix (Pty) Ltd. This subsidiary focusses on both chain store and front door deliveries which are complimentary to that of the Group. Together with the strong management and operational team, synergies are expected to be realised within the various divisions of the Group.



Through its acquisitive growth strategy, the Group aims to increase its volumes by consolidating the logistics requirements of the acquired businesses into its existing infrastructure. The Group seeks to invest not only in businesses that complement existing divisions, but also in those that will diversify risk and grow revenue streams in various industry verticals. A number of acquisition opportunities are currently being evaluated and actively pursued.
09-Oct-2015
(Official Notice)
Trading conditions continue to be extremely challenging. Poor growth rates have once again had a material impact on volumes and demand for the Group?s services. In addition, the Group contends with ongoing customer rate pressures. The strategy however, to grow the customer base, is yielding positive results. Notwithstanding the difficult trading conditions, various ongoing cost saving initiatives, which commenced in the previous financial year, has achieved sustainable operational savings. This has led to an improvement in the Group?s profitability.



Accordingly, shareholders are advised that basic earnings per share for the interim period ended 31 August 2015 will be 171% to 189% higher than that achieved in the previous corresponding period and headline earnings per share will be between 106% and 124% higher than that achieved in the previous corresponding interim period. This translates to basic earnings per share ranging from 9,5 to 10,1 cents per share in relation to the comparative period (3,5 cents per share) and headline earnings per share ranging from 10,1 to 11,0 cents per share in relation to the comparative period (4,9 cents per share). The large increase is emphasised due to the comparative period?s low earnings base as reflected in the interim results for the period ended 31 August 2014.



The financial results, on which this trading update has been based, have not been reviewed nor reported on by Value?s auditors. Further information will be provided in the results announcement for the 6 months ended 31 August 2015 which will be published on or about 21 October 2015.
24-Aug-2015
(Official Notice)
Shareholders are advised that the company?s annual financial statements for the year ended 28 February 2015 was posted to shareholders on 24 August 2015 and contains no modifications to the reviewed results which were published on Sens on 13 May 2015. Baker Tilly SVG audited these results and the annual financial statements of the company and their reports are available for inspection at the registered offices of the company.



Notice is hereby given that the annual general meeting of the company will be held on Wednesday, 21 October 2015 at 10h00, at the Value boardroom, Value City, Essex Road, Tunney, Germiston, to transact business as stated in the notice of the annual general meeting.
13-May-2015
(C)
Revenue grew to R2.04 billion (R1.98 billion) whilst gross profit rose slightly to R779.5 million (R779.4 million). Operating profit decreased to R108.7 million (R166.9 million). Total comprehensive income for the year attributable to owners slumped to R68.3 million (R110.8 million). Furthermore, headline earnings per share lowered to 44.2cps (68.2cps).



Dividend

Notwithstanding the drop in profitability, cash from operations remains sound. Cash resources and facilities are adequate to fund future capital expenditure. Accordingly, the board declared a gross final dividend of 12cps which will be paid out of distributable reserves.



Prospects

The new Cato Ridge facility in Durban and Joostenbergvlakte facility in Cape Town are now fully operational. The investment in this infrastructure is expected to bode well for the Group?s future profitability.



New business has been procured, which will roll out in May and July 2015.



The trading environment is not expected to show a marked improvement. Projected economic growth of 2% does not bode well to an already over-extended consumer. Consequently, the Group expects the challenging trading conditions to continue in the new financial year.



The Group remains committed to its acquisitive growth strategy by leveraging off its intellectual property, infrastructure, low gearing, positive cash balances and strong cash flows. The Group seeks to invest not only in businesses that complement existing divisions, but also in those that will diversify and grow new revenue streams. Various acquisition opportunities continue to be evaluated and actively pursued.
29-Apr-2015
(Official Notice)
The first half of 2015 was characterised by extremely challenging trading conditions resulting from high unemployment rates, consumer debt exposure coupled with the protracted strike action which further weakened the South African economy. The associated negligible growth rates had a material impact on volumes and demand for the Group?s services. As a result, the Group had to contend with non-sustainable rate pressure exacerbated by declining volumes and activity in the various divisions. In addition to revenue pressures, statutory and inflationary increases resulted in operating and overhead costs escalating disproportionately to revenue.



Subsequently, increased volumes, improvement in operational efficiencies and associated operating cost reductions had a positive effect on second half earnings. The impact though was insufficient to improve on the audited results reported in 2014. Accordingly, shareholders are advised that basic and headline earnings per share for the year ended 28 February 2015 will be 25% to 45% lower than that achieved in the corresponding audited period ended 28 February 2014. This translates to earnings per share ranging from 36,8 to 50,2 cents per share in relation to the comparative period (66,9 cents per share) and headline earnings per share ranging from 37,5 to 51,1 cents per share in relation to the comparative period (68,2 cents per share). Various initiatives commenced early in 2014 to increase revenue and reduce operating costs. Key operational areas have been restructured to streamline processes and improve efficiencies. Loss making contracts were terminated.



The financial results, on which this trading update has been based, have not been reviewed nor reported on by Value?s auditors. Further information will be provided in the results announcement for the year ended 28 February 2015 which will be published on or about 13 May 2015.
17-Apr-2015
(Official Notice)
Further to the SENS announcement dated 3 March 2015 relating to Value?s repurchase of ordinary shares, shareholders are advised that the preformed financial effects of the net asset value per share (NAV) and the tangible net asset value per share (TNAV) as at 31 August 2014 were erroneously reported.



The NAV and TNAV are accordingly corrected as follows:

Preformed as reported in the SENS announcement dated 3 March 2015:

Tangible net asset value per share: 422c

Net asset value per share: 441.7c



Corrected:

Tangible net asset value per share: 403.9c

Net asset value per share: 423.5c



All the other preformed financial effects remain unchanged.
11-Mar-2015
(Official Notice)
On 10 March 2015, the company cancelled and de-listed 7 868 300 ordinary shares.



These shares were acquired as part of a general repurchase by a subsidiary company in terms of the general authority to repurchase shares approved by the shareholders of the company at the Annual General Meetings held on 27 September 2007, 23 September 2013 and 14 October 2014.



The financial impact on diluted and undiluted headline earnings per share are as disclosed in the SENS announcement published on 3 March 2015.



The shares cancelled represent 3.96% of the issued share capital of the company immediately prior to such cancellation. Following the cancellation, the issued share capital of the company will now comprise 190 759 086 ordinary shares of 0,1 cent.
03-Mar-2015
(Official Notice)
In terms of a general authority granted by Value shareholders at the Company?s annual general meeting held on 14 October 2014, a special resolution was passed to approve the repurchase of its ordinary shares.



In terms of the special resolution:

(a) The general authority is limited to a maximum of 20% of Value?s issued ordinary share capital being 39 725 477 ordinary shares.

(b) Any repurchase may not be made at a price greater than 10% above the weighted average of the market value of the ordinary shares for the five business days immediately preceding the date of such repurchase.

(c) The repurchase of shares being affected through the order book operated by the JSE trading system and done without any prior understanding or arrangement between Value and the counter party.



The repurchases to date have been funded from available cash resources and it is intended that all future purchases will also be funded from available cash resources.



The directors of Value have considered the impact of the share repurchase and are of the opinion that:

-Value and its subsidiaries will be able, in the ordinary course of business, to repay its debts for a period of 12 months from the date of this announcement.

-The assets of Value and its subsidiaries are in excess of the liabilities, measured in accordance with the accounting policies used in the unaudited results for the 6 month interim period ended 31 August 2014.

-The ordinary share capital and reserves of Value and its subsidiaries will be adequate for a period of 12 months from the date of this announcement.

-The working capital of Value and its subsidiaries will be adequate for a period of 12 months from the date of this announcement.



As the repurchase has been effected by a wholly-owned subsidiary of Value, the shares repurchased have neither been cancelled, nor has their listing on the JSE been terminated.
15-Oct-2014
(Official Notice)
Shareholders are advised that, at the annual general meeting of Value held on 14 October 2014, all resolutions as set out in the notice of the annual general meeting were passed by the requisite majority of members.
14-Oct-2014
(C)
Revenue increased by 4% to R984.9 million (R946.6 million). Gross profit lowered to R363.8 million (R380.2 million). Operating profit tumbled 77% to R16.0 million (R69.8 million). Net profit for the period plummeted to R5.8 million (R42.1 million). Furthermore, headline earnings per share dived 81% to 4.9 cents per share (26.4 cents per share).



Dividend

Notwithstanding the poor results, cash from operations remains strong. Cash resources and facilities are adequate to fund future capital expenditure. Accordingly, the board declared a gross interim dividend of 5 cents per ordinary share which will be paid out of distributable reserves.



Prospects

Consumer confidence fell in the third quarter driven by the economy?s poor growth prospects, increasing interest rates and inflationary pressures. It is expected that the associated financial burdens will continue to impact consumption which does not bode well for the economy nor the Group?s ability to grow its volume base.



Due to cyclicality of trading activity, in the second half, volumes are expected to increase over the Christmas period, however, the extent of the increase is unknown. Initiatives highlighted above are bearing positive results albeit not at the required pace. Consequently, the difficult trading conditions experienced are expected to improve for the remainder of the financial year.



The Group remains committed to its acquisitive growth strategy by leveraging off its intellectual property, infrastructure, low gearing, positive cash balances and strong cash flows. The Group seeks to invest not only in businesses that complement existing divisions, but also in those that will diversify and grow new revenue streams. Various acquisition opportunities continue to be evaluated and actively pursued both in South Africa and its neighbouring countries.
29-Aug-2014
(Official Notice)
Value advised that it has, via its subsidiary company, entered into an agreement to repurchase shares during its closed period. This period commences on 1 September 2014 and ends on 14 October 2014 when the company's results are scheduled to be released.



The mandate in this agreement is for an irrevocable, non-discretionary programme to repurchase the company's shares. Any purchases will be effected within certain pre-set parameters within the limits of the programme and the listing Requirements of the JSE Ltd.



It is the company's intention to repurchase shares to the maximum total value of approximately R4.3 million.
29-Aug-2014
(Official Notice)
Shareholders are advised that the company's annual financial statements for the year ended 28 February 2014 was posted to shareholders on 29 August 2014 and contains no modifications to the reviewed results which were published on Sens on 13 May 2014. Baker Tilly SVG audited these results and the annual financial statements of the company and their reports are available for inspection at the registered offices of the company.



Notice is hereby given that the annual general meeting of the company will be held on Tuesday, 14 October 2014 at 09h00, at the Value boardroom, Value City, Essex Road, Tunney, Germiston, to transact business as stated in the notice of the annual general meeting.







25-Aug-2014
(Official Notice)
Since January 2014, high unemployment rates, consumer debt exposure coupled with the protracted strike action in various sectors has weakened the South African economy further. This has led to negligible growth rates which have had a material impact on volumes and demand for the Group's services. As a result, the Group has had to contend with non- sustainable rate pressure exacerbated by declining volumes and activity in the various divisions. In addition to revenue pressures, statutory and inflationary increases have resulted in operating and overhead costs escalating disproportionately to revenue. Consequently, trading conditions for the 2015 interim period have proven to be extremely challenging.



Accordingly, shareholders are advised that basic and headline earnings per share for the interim period ended 31 August 2014 will be 70% to 90% lower than that achieved in the previous corresponding period. Various saving initiatives commenced early in 2014 to reduce operating costs and improve profitability. Loss making contracts have been addressed. New management have been appointed in key operational positions to further manage and streamline processes in order to improve efficiencies and downscale costs.



Further information will be provided in the results announcement for the six months ended 31 August 2014 which will be published on or about 14 October 2014.
13-May-2014
(C)
Revenue for the year increased to R1.975 billion (2013: R1.945 billion). Gross profit lowered to R779.4 million (2013: R783.8 million), operating profit was slightly higher at R166.9 million (2013: R166.4 million), while net profit for the year rose to R110.7 million (2013: R101.7 million). Furthermore, headline earnings per share grew to 68.2cps (2013: 63.5cps).



Declaration of final dividend

Generation of increased positive cash flows has enabled the Board to declare a 13% increase in the gross final dividend to 17cps which will be paid out of distributable reserves.



Prospects

The introduction of e-tolls, increases in fuel, labour, interest rates and inflationary pressures do not bode well for the South African market. In addition, high unemployment rates and consumer debt exposure together with protracted strike action continue to weaken the economy by depressing growth rates. It is therefore anticipated that the resultant financial pressures faced by the consumer will impact existing customer volume growth and the Group's ability to expand the customer base. Consequently, the Group expects difficult trading conditions in 2015.



The Group remains committed to its acquisitive growth strategy by leveraging off its intellectual property, infrastructure, low gearing, positive cash balances and strong cash flows. The Group seeks to invest not only in businesses that complement existing divisions, but also in those that will diversify and grow new revenue streams. Various acquisition opportunities continue to be evaluated and actively pursued both in South Africa and its neighbouring countries.
15-Oct-2013
(C)
Revenue increased to R946.6 million (R936.1 million). Gross profit declined to R380.2 million (R385.4 million) and operating profit was slightly higher at R69.8 million (R69.7 million). Net attributable profit was up 13% to R42.1 million (R37.4 million). In addition, headline earnings per share grew 13% to 26.4cps (23.4cps).



Dividend

A gross interim ordinary dividend of 9cps has been declared.



Prospects

The future growth strategy of the group will be driven both organically and by acquisition. Funding thereof will be facilitated by debt, cash balances, and internally generated cash flows. The group continues to evaluate various opportunities in and around southern Africa, which will complement the requirements of the group's customers and diversify and grow additional revenue streams.



Growth rates in the South African economy continue to be subdued. The associated challenges within the corporate and consumer environment have forced the group to contend not only with reducing volumes in a highly competitive market, but also escalating costs annually exceeding inflation. Accordingly, various sustainable cost saving initiatives have been implemented to restore margins by streamlining the group's processes and thereby facilitating a leaner operating cost structure.



Towards the end of the first half of the current financial year and into the second, new accounts were procured which will replace lost contracted business in the short term. In line with previous years trading, the second half is expected to be more buoyant due to increased activity levels associated with the Christmas season. Accordingly, in the absence of unforeseen circumstances, the board anticipates headline earnings to be maintained.
04-Oct-2013
(Official Notice)
Challenging trading conditions emanating from the subdued economic environment, pricing pressures, the expiry of key contracts in the prior period and escalating labour rates and fuel costs have been offset by operational and administrative cost savings initiatives. In addition, the Group has benefitted from the current period?s decreased finance cost and a reduced effective tax rate arising from the prior period?s inclusion of an STC expense.



Consequently, shareholders are advised that basic and headline earnings per share for the interim period ended 31 August 2013 will be up to 20% higher than that achieved in the previous corresponding period. The financial results, on which this trading update has been based, have not been reviewed nor reported on by Value?s auditors. The results for the 6 months ended 31 August 2013 will be published on or about 15 October 2013.

23-Sep-2013
(Official Notice)
Shareholders were advised that at the annual general meeting of the shareholders of the company held today, 23 September 2013, all the ordinary and special resolutions proposed at the meeting, as set out in the notice of annual general meeting to shareholders, were approved by the requisite majority of votes.



The special resolutions will be submitted for registration at the Companies and Intellectual Property Commission in due course.
26-Aug-2013
(Official Notice)
Shareholders were advised that the company's annual financial statements for the year ended 28 February 2013 was posted to shareholders on 26 August 2013 and contains no modifications to the reviewed results which were published on SENS on 15 May 2013. Baker Tilly SVG, previously known as Charles Orbach - Company, audited these results and the annual financial statements of the group and their reports are available for inspection at the registered offices of the company.



Notice was also given that the annual general meeting of the group will be held on Monday, 23 September 2013 at 10h00, at the Value boardroom, Value City, Essex Road, Tunney, Germiston, to transact business as stated in the notice of the annual general meeting.
15-May-2013
(C)
Revenue for the year ended 28 February 2013 increased by 8% to R1.9 billion (2012: R1.8 billion). Gross profit rose by 3% to R783.8 million (2012: R763.1 million), operating profit decreased by 6% to R166.4 million (2012: R177 million), while total comprehensive income for the year was lower at R101.7 million (2012: R109.5 million). Furthermore, headline earnings per share fell by 7% to 63.5cps (2012: 68cps).



Dividend

The generation of positive cash flows is expected to remain strong. Reduced capital expenditure and the associated reduction in debt has enabled the board to declare a 7% increase in the gross final dividend to 15 cents per ordinary share which will be paid out of distributable reserves.



Prospects

Reduced debt levels and positive cash flows will facilitate the future growth of the Group both organically and by acquisition. Various opportunities are being evaluated in South Africa and Sub-Saharan Africa. The move into the continent will enable the Group to service the growth requirements of its customers, penetrate new markets and increase its overall volume base. Growth rates in the South African economy are expected to be subdued. The associated challenges within the corporate and consumer environment have forced the Group to contend not only with reducing volumes in a highly competitive market, but also escalating costs annually exceeding inflation. Accordingly, various sustainable cost saving initiatives have been undertaken to restore margins by streamlining the Groups processes and thereby facilitating a leaner operating cost base. In addition, since the 2013 year end, a number of new accounts have been procured which will replace lost contracted business. Accordingly, subsequent to year end, there has been an encouraging increase in revenue.
18-Apr-2013
(Official Notice)
Although revenue growth was achieved, trading for the second half of the financial year ended 28 February 2013 was challenging. Earnings were impacted by the expiry of certain distribution and truck rental contracts and increased costs associated with the transport sector strike in September and October 2012. In January and February 2013, supply chain activities and volumes reduced to less than the previous year's levels. Accordingly, shareholders were advised that headline and basic earnings per share for the year ended 28 February 2013 will be up to 10% lower than that achieved in the previous corresponding year.



The results for the 12 months ended 28 February 2013 will be published on or about 15 May 2013.
02-Apr-2013
(Official Notice)
Shareholders are advised that it was noted by the JSE's proactive monitoring process that the calculation of diluted earnings and diluted headline earnings per share for the years ended 29 February 2012 and 28 February 2011 were not in accordance with IFRS. The previous calculations were based on the directors' interpretation of IAS 33 as it relates to diluted earnings per share. The Directors still believe that that the previously reported diluted earnings per share figures more accurately reflected the economic reality of the BEE transaction entered into in July 2010, in that, at the end of the lock in period, the shares issued to the BEE entities and BEE Trust would no longer be treated as treasury shares. Subsequent to various correspondence with the JSE, the company's auditors and consultants, the company has amended its diluted earnings per share and diluted headline earnings per share calculations.
28-Mar-2013
(Official Notice)
On 17 September 2012 the shareholders of Value approved a special resolution authorising the board of directors of Value ('the Board") to provide financial assistance to related and inter-related companies. The Board has, pursuant to the above authorisation and in accordance with Section 45 of the Act, resolved to provide guarantees to related and inter-related companies to secure the banking facilities required by such companies. The total financial assistance provided to related and inter-related companies in terms of resolutions passed by the Board during the current financial year exceeds one-tenth of one percent of Value?s net worth. This notice is required to be provided in terms of Section 45(5) of the Act as the threshold referred to above has been exceeded.
17-Oct-2012
(Media Comment)
Business Day reported that Value Group said it would save cash over the next five years, which it would then use on projects in Africa but not in SA. CEO Steven Gottschalk said this expansion will enable the group to service the growth requirements of its customers, penetrate new markets and increase its overall volume base.
16-Oct-2012
(C)
Revenue for the interim period increased by 10% to R936.1 million (2011: R847.3 million). Gross profit rose by 10% to R385.4 million (2011: R351.1 million), operating profit climbed slightly by 3% to R69.7 million (2011: R67.8 million), while net profit for the period for the period lowered by 7% to R37.4 million (2011: R40.3 million). Furthermore, headline earnings per share lowered by 6% to 23.4cps (2011: 25cps).



Dividend

Generation of additional positive cash flows has enabled the board to declare a 14% increase in the gross interim dividend to 8cps which will be paid out of distributable reserves.



Prospects

In light of the quality of the existing infrastructure, capital expenditure has been materially reduced. This will enable the Group to continue to reduce debt and utilise its consistent positive cash flows to build up its cash resources which over the next five years, will be earmarked for expansion opportunities into the rest of Africa. The Group aims to benefit from the substantially higher growth rates achieved across the continent. This expansion will enable the Group to service the growth requirements of its customers, penetrate new markets and increase its overall volume base. Although sustainable cost reduction initiatives have been and continue to be implemented, an improvement in the current trading environment is not expected. Notwithstanding the take-on of new customers, the volume decline trend continued in September 2012. This was further exacerbated by the protracted transport sector strike towards the end of September and into October 2012. This strike will have an effect on profitability. Nevertheless, in the absence of any unforeseen circumstances, the Board anticipates headline earnings to be similar to the previous year.
05-Oct-2012
(Official Notice)
Notwithstanding rate pressures and volume decline, revenue growth was achieved. However, increased operating profits were negatively impacted by escalating operating costs. Additionally, earnings were further reduced by increased net financed costs arising principally from Circular 9/2006 fair value adjustments. Consequently, shareholders are advised that basic and headline earnings per share for the interim period ended 31 August 2012 will be up to 10% lower than that achieved in the previous corresponding period. The results for the six months ended 31 August 2012 will be published on or about 16 October 2012.
17-Sep-2012
(Official Notice)
Shareholders are advised that at the annual general meeting of the shareholders of the company held on 17 September 2012, all the ordinary and special resolutions proposed at the meeting, as set out in the notice of annual general meeting to shareholders, were approved by the requisite majority of votes. The special resolutions will be submitted for registration at the Companies and Intellectual Property Commission in due course.
30-Jul-2012
(Official Notice)
Shareholders are advised that the company's integrated annual report encompassing the annual financial statements for the year ended 29 February 2012 will be posted to shareholders on or about 15 August 2012 and contain certain modifications to the reviewed results which were published on 16 May 2012.



Notice is further given that the annual general meeting of the company will be held at 10h00 on Monday, 17 September 2012, at Value City, Essex Road, Tunney, Germiston, to transact business as stated in the notice of the annual general meeting. The record date on which shareholders must be registered in the company's securities register in order to attend, participate and vote at the annual general meeting is Friday, 7 September 2012.
16-May-2012
(C)
Revenue for the year ended 29 February 2012 increased by 13% to R1.8 billion (2011: R1.6 billion). Gross profit rose by 10% to R763.1 million (2011: R696.4 million), operating profit grew by 6% to R177 million (2011: R166.4 million), while total comprehensive income for the year was higher at R109.5 million (2011: R94.1 million). Furthermore, headline earnings per share jumped by 21% to 68cps (2011: 56.2cps).



Dividend

As previously announced on 29 March 2012, the Board declared a final dividend of 14cps. This dividend is covered 3.1 times by second half earnings.



Prospects

Management expects the effects of the ongoing fuel price hikes and current trading environment to continue into the new financial year. Consequently, consumer discretionary spend could be impacted further which may negate volume recovery within the existing customer base. In addition, certain costs have escalated above inflation. These challenges in this economic environment have led to rate pressures and resistance in obtaining the required annual increases.



Growing a diversified profitable revenue base across all logistical service offerings, whilst simultaneously containing and reducing costs, remains a top priority of the group. The group's infrastructure base has been expanded to enable it to manage large growth in trading activity and critical mass. The restructuring and expansion of the group's sales force has been completed. New accounts have been procured and commenced in the current financial year. Although volumes in March were flat, contribution from other revenue streams within the group has produced reasonable results. In the absence of any material unforeseen circumstances, management expect headline earnings to improve.
10-Apr-2012
(Official Notice)
On 18 October 2011 the shareholders of Value approved a special resolution authorising the board of directors of Value ("the Board") to provide financial assistance to related and inter-related companies. The board has, pursuant to the above authorisation and in accordance with Section 45 of the Act, resolved to provide guarantees to related and inter- related companies to secure the banking facilities required by such companies. The total financial assistance provided to related and inter-related companies in terms of resolutions passed by the board during the current financial year exceeds one-tenth of one percent of Value's net worth.
29-Mar-2012
(Official Notice)
Trading for the second half of the financial year ended 29 February 2012 was partly subdued. Earnings were impacted by reduced volumes in September 2011 and more so in January 2012. Conversely, the BEE equity transaction costs, which were incurred in the company's previous reporting period ended 28 February 2011, had a negative effect on the prior period's earnings. Consequently, the comparative headline and basic earnings per share figures are reduced. Accordingly shareholders are advised that headline and basic earnings per share for the period ended 29 February 2012 will be 10% to 30% higher than that achieved in the previous corresponding period. Excluding the once-off BEE equity transaction cost incurred in the previous period, adjusted headline earnings per share for the period ended 29 February 2012 will be up to 20% higher than that achieved in the previous corresponding period. The results for the 12 months ended 29 February 2012 will be published on or about 16 May 2012.



Dividend

The board has resolved to declare a final dividend of 14 cents per ordinary share payable as follows:

* Declaration date: Wednesday, 28 March 2012

* Last day to trade cum dividend: Friday, 22 June 2012

* Trading ex-dividend: Monday, 25 June 2012

* Record date: Friday, 29 June 2012

* Payment date: Monday, 2 July 2012.
29-Feb-2012
(Official Notice)
Further to the SENS announcement dated 4 November 2011 wherein Mr Velile Welcome Mcobothi was appointed as non-executive director of the company, shareholders are advised that Velile is now classified as an independent non-executive director of the Company effective 29 February 2012. In addition, Velile has been appointed to the boards of the Audit and Risk Committee and the Social and Ethics Committee.
04-Nov-2011
(Official Notice)
In compliance with the JSE Limited Listing Requirements, the company announces the appointment of Mr Velile Welcome Mcobothi as a non-executive director of the company with effect from 3 November 2011.
18-Oct-2011
(Official Notice)
At the annual general meeting of the shareholders of the Value held on 18 October 2011, all the ordinary and special resolutions proposed at the meeting, as set out in the notice of annual general meeting to shareholders were approved by the requisite majority of votes.
18-Oct-2011
(C)
Revenue for the interim period increased by 14% to R847.3 million (2010: R740.8 million). Gross profit rose by 8% to R351.1 million (2010: R324.1 million), while operating profit climbed by 16% to R67.8 million (2010: R58.2 million), and total comprehensive income for the period soaring to R40.3 million (2010: R24.7 million). Furthermore, headline earnings per share grew by 71% to 25cps (2010: 14.6cps).



Dividend

The board has resolved to declare an interim dividend of 7cps. This dividend is covered 3.6 times by interim headline earnings.



Prospects

Global financial market volatility and uncertainty can induce another recessionary environment both abroad and within the local economy. Volumes have reduced amongst certain customers operating in different industry verticals within the supply chain. Accordingly, management is focused on growing a diversified revenue base across all logistical service offerings, whilst, simultaneously, reducing costs. Traditionally, the second half of the financial year is characterised by increased consumer demand and hence increased logistics' volumes. This however, must be viewed in light of a possible economic downturn which could depress volumes particularly over the Christmas season. Accordingly, management is cautious in advising that headline earnings for the 2012 financial year will at least be maintained.
06-Oct-2011
(Official Notice)
In the interim period ended 31 August 2011, the Group benefited from an expanded customer base within the general distribution segment, which has contributed to earnings growth. In addition, the BEE equity transaction costs, which were incurred in the company's previous interim reporting period ended 31 August 2010, had a negative effect on the prior period's earnings. Consequently, the comparative headline and basic earnings per share figures are reduced. Accordingly shareholders are advised that headline and basic earnings per share for the interim period ended 31 August 2011 will be 70% to 90% higher than that achieved in the previous corresponding period. Excluding the once-off BEE equity transaction cost incurred in the previous period, adjusted headline earnings per share for the interim period ended 31 August 2011 will be up to 20% higher than that achieved in the previous corresponding period. The results for the 6 months ended 31 August 2011 will be published on or about 18 October 2011.
01-Sep-2011
(Official Notice)
Shareholders were advised that the company's annual financial statements for the year ended 28 February 2011 were posted to shareholders on 30 August 2011 and contain no modifications to the reviewed results which were published on Sens on 10 May 2011.



Annual general meeting

Notice was given that the annual general meeting of the group will be held on Tuesday, 18 October 2011 at 14h00, at the Value boardroom, Value City, Essex Road, Tunney, Germiston, to transact business as stated in the notice of the annual general meeting.
10-May-2011
(C)
28-Apr-2011
(Official Notice)
In the company's circular dated 1 July 2010, it was illustrated how the once off BEE equity transaction costs would have a negative effect on earnings. These costs were incurred during the company's interim reporting period ended 31 August 2010. Notwithstanding these once-off costs, favourable trading conditions in the second half of the 2011 financial year contributed to an increase in earnings. Accordingly shareholders are advised that headline and basic earnings per share for the year ended 28 February 2011 will be up to 20% higher than that achieved in the previous corresponding period. Excluding the once-off costs associated with the BEE equity transaction, headline and basic earnings per share for the year ended 28 February 2011 will be 15% to 35% higher than that achieved in the previous corresponding year. The results for the year ended 28 February 2011 will be published on or about 10 May 2011.
20 Oct 2010 15:50:22
(C)
Revenue for the interim period grew by 17% to R740.8 million (2009: R635.6 million). Gross profit strengthened by 13% to R324.1 million (2009: R286.4 million), while operating profit weakened by 26% to R44.9 million (2009 : R60.5 million). Total comprehensive income for the period fell to R24.7 million (2009: R34.8 million). Furthermore, headline earnings per share declined by 28% to 14.6cps (2009: 20.4cps).



Dividend

The board has resolved to declare an interim dividend of 6cps. This dividend is covered 3.6 times by adjusted headline earnings.



Prospects

The hroup has and will continue to invest in its asset infrastructure to expand into new industry verticals in order to increase and diversify its annuity based revenue. The second half of the group's financial year is characterised by increased trading activity. Subsequent to the end of the interim period, volume and activity levels improved. Accordingly, excluding the once-off BEE equity transaction costs, management is cautiously optimistic that headline earnings for the 2011 financial year will be stable.
06 Oct 2010 12:00:21
(Official Notice)
In terms of the listings requirements of the JSE Limited, a listed company is required to publish a trading update as soon as it becomes reasonably certain that the financial results for the period to be reported on next will show a 20% or more difference from the previous corresponding period. In the company's circular dated 1 July 2010, it was illustrated how the once off BEE equity transaction costs would have a negative effect on earnings.



Consequently, these costs were incurred during the company's interim reporting period ended 31 August 2010. Accordingly shareholders are advised that headline and basic earnings per share for the interim period ended 31 August 2010 will be 20% to 40% less than that achieved in the previous corresponding period. The financial results, on which this trading update has been based, have not been reviewed nor reported on by Value's auditors. The results for the 6 months ended 31 August 2010 will be published on or about 20 October 2010.
08 Sep 2010 09:48:51
(Official Notice)
At the general meeting of the shareholders of the Value Group Ltd held yesterday, 7 September 2010, all the ordinary and special resolutions proposed at the meeting were approved by the requisite majority of votes. The special resolution will be lodged for registration with the Companies and Intellectual Property Registration Office in due course.
23 Aug 2010 11:42:15
(Official Notice)
Value Group shareholders are referred to the announcement released on SENS on Thursday, 27 May 2010 and the circular posted to shareholders on Thursday, 1 July 2010 ("the circular") in which the terms of the pro rata voluntary share repurchase offer ("the repurchase offer") were disclosed. The closing date of the repurchase offer was Friday, 20 August 2010.



Value Group shareholders are advised that Value Group has received tenders in respect of 115 941 646 Value Group shares. As the total number of shares tendered is in excess of the maximum number of shares to be repurchased in terms of repurchase offer (being 16 666 667 Value Group shares or 9.2% of eligible Value Group shares), Value Group will repurchase the maximum of 16 666 667 Value Group shares. Value Group will acquire from Value Group shareholders who tendered in excess of 9.2% of their Value Group shares, 9.2% of their Value Group shares plus such additional shares pro rata to the excess Value Group shares tendered in terms of the repurchase offer, subject to the total number of repurchased Value Group shares not exceeding the above maximum.



Value Group shareholders are referred to the financial effects of the repurchase offer set out in the circular which have been based on the assumption that a maximum of 16 666 667 Value Group shares will be repurchased in terms of the repurchase offer and which have therefore not changed following the actual results of the repurchase offer. Cheques in respect of the repurchase offer consideration of R3.60 per Value Group share ("repurchase offer consideration") will be posted or electronic transfers will be made on Monday, 23 August 2010 to certificated Value Group shareholders who have accepted the repurchase offer in respect of their pro rata entitlement to the repurchase offer and on Tuesday, 24 August 2010 in respect of any excess Value Group shares tendered. Accounts held with CSDP/brokers will be credited and updated in respect of the repurchase offer consideration on Monday, 23 August 2010 to dematerialised Value Group shareholders who have accepted the repurchase offer in respect of their pro rata entitlement to the repurchase offer and on Tuesday, 24 August 2010 in respect of any excess Value Group shares tendered. The repurchased shares referred to above will be cancelled and delisted.
05 Aug 2010 15:58:10
(Official Notice)
Shareholders are advised that the company's annual financial statements for the year ended 28 February 2010 will be posted to shareholders on or about 16 August 2010 and contain certain modifications to the reviewed results which were published on 11 May 2010. Charles Orbach - Company audited the results and the annual financial statements of Value and their reports are available for inspection at the registered offices of the company.



Notice is hereby given that the annual general meeting of the company will be held at 14h00 on 7 September 2010, at Value City, Essex Road, Tunney, Germiston, to transact business as stated in the notice of the annual general meeting.
05 Aug 2010 15:53:28
(Official Notice)
Value Group Ltd hereby advises that Mr Clive Lawrence Sack has resigned as the interim company secretary with effect from 5 August 2010. The board advise that Ithemba Governance and Statutory Solutions (Pty) Ltd ("Ithemba") have been appointed as company secretaries with effect from 6 August 2010. Ithemba have a wealth of experience and knowledge in managing companies' secretarial affair with particular emphasis on corporate governance.
04 Aug 2010 15:06:07
(Official Notice)
Value Group shareholders were advised that registration by the companies and intellectual property registration office of the special resolutions relating to the BEE transaction and repurchase offer, as detailed in the circular dated Thursday, 1 July 2010 has been effected. Value Group shareholders were advised that the remaining salient dates and times relating to the repurchase offer are as follows:

* Last day to trade to participate in repurchase offer, on Friday, 13 August

* Value Group ordinary shares trade ex repurchase offer Monday, 16 August

* Record date for the repurchase offer, on Friday, 20 August

* Last date to lodge forms of acceptance and surrender by 12:00, on Friday, 20 August

* Repurchase offer closes at 12:00, on Friday, 20 August

* Results of repurchase offer released on SENS, on Monday, 23 August

* Repurchase offer consideration posted or cash electronically transferred to certificated shareholders, on Monday, 23 August

* Accounts held with CSDP/broker credited and updated in respect of the repurchase offer consideration to dematerialised shareholders, on Monday, 23 August.
23 Jul 2010 12:11:16
(Official Notice)
Value were referred to the circular dated Thursday 1 July 2010 (the "circular") relating to the BEE transaction and repurchase offer and are advised that at the general meeting held on Friday 23 July 2010, all the ordinary and special resolutions contained in the notice of general meeting attached to the circular were approved by the requisite majority of Value shareholders. The special resolutions will be lodged for registration with the Companies and Intellectual Property Registration Office and a finalisation announcement confirming the registration thereof will be released on SENS on or about Thursday 5 August 2010. A further announcement regarding the results of the repurchase offer will be made following the closing of the repurchase offer on Friday 20 August 2010.
30 Jun 2010 14:00:41
(Official Notice)
Further to the announcement released on SENS on 28 May 2010 and published on 29 May 2010 regarding the proposed BEE transaction and pro rata voluntary share repurchase offer ("repurchase offer"), Value Group shareholders are hereby informed that the circular to Value Group shareholders will be posted on Thursday, 1 July 2010. In addition, Value Group shareholders should note the revised salient dates and times below:



*Circular and notice of general meeting posted to Value Group shareholders, on Thursday, 1 July 2010

*Repurchase offer opens 9:00, on Friday, 2 July 2010

*Last day to lodge proxy forms for general meeting is at 10:00 on Thursday, 22 July 2010

*Letters of authority to be issued by the Master of the High Court of South Africa to the first trustees of the Value Group Empowerment Trust no later than, on Thursday, 22 July 2010

*General meeting to be held at 10:00, on Friday, 23 July 2010

*List new Value Group ordinary shares issued in terms of the BEE transaction on the JSE, on Tuesday, 10 August

*Last day to trade to participate in repurchase offer, on Friday, 13 August 2010

*Value Group ordinary shares trade ex repurchase offer Monday, 16 August 2010

*Record date for the repurchase offer, on Friday, 20 August 2010

*Last date to lodge forms of acceptance and surrender by 12:00 on Friday, 20 August 2010

*Repurchase offer closes at 12:00, on Friday, 20 August 2010



27 May 2010 11:24:42
(Official Notice)
11 May 2010 14:43:16
(C)
02 Mar 2010 15:35:13
(Official Notice)
Value Group Ltd advised that Ms Johanna Catharina Nel has tendered her resignation as company secretary with effect from 31 March 2010. Ms Nel is planning to pursue other interests. The board is interviewing suitable candidates for the position of company secretary. In the interim, Mr Clive Lawrence Sack, the group financial director of Value Group Ltd, has been appointed as the company secretary of the group with effect from 1 April 2010 until such time as a suitable company secretary has been appointed.
21 Oct 2009 17:04:34
(C)
Revenue declined by 9% to R635.6 million (R697.5 million). Operating profit decreased marginally to R60.5 million (R60.6 million). Net attributable profit for the period declined to R34.8 million (R36.3 million). In addition, headline earnings per share fell by 2% to 20.4cps (20.1cps).



Dividend

An interim ordinary dividend of 6cps has been declared.



Prospects

The group continues to grow market share by actively cross selling all service offerings to existing and new customers. The sustainable realignment of costs to operational activity bodes well for the continued profitability of the group. As a result thereof margins have improved. The group is therefore very well positioned to benefit from an upturn in the economy and associated increased consumer spend. Subsequent to interim period end, volumes and activity levels improved. Accordingly, management is optimistic that earnings for the current financial year will be comparable to those achieved in the previous financial year.
02 Sep 2009 10:45:20
(Official Notice)
Shareholders of Value are advised that all resolutions were passed by the requisite majority at the annual general meeting held on Tuesday, 1 September 2009. The special resolutions will be submitted for registration at the companies and intellectual property registration office in due course.
07 Aug 2009 13:28:15
(Official Notice)
Shareholders are advised that the company's annual financial statements for the year ended 28 February 2009 were posted to shareholders today and contain no modifications to the audited results which were published on 7 August 2009. Charles Orbach - Company audited the results and the annual financial statements of Value and their reports are available for inspection at the registered offices of the company.



Notice is hereby given that the annual general meeting of the company will be held at 14h00 on 1 September 2009, at Value City, Essex Road, Tunney, Germiston, to transact business as stated in the notice of the annual general meeting.
14 May 2009 17:14:38
(C)
Turnover increased by 15% from R1.186 billion to R1.368 billion. Operating profit after depreciation increased by 72% from R80.5 million to R138.3 million. The culmination of the above has contributed to a 90% increase in headline earnings from 25.8c to earnings of 48.9c per share equating to R89.7 million.



Dividend

The board declared a dividend of 15c per ordinary share.



Prospects

The downturn in the South African economy has manifested itself in the level of operational activity within the group. The trend of reduced volumes in the second half of the financial year has continued into the new financial year albeit to a lesser extent. Currently, volume recovery and growth amongst the existing customer base cannot be predicted with any certainty. Nevertheless, the group is well positioned to benefit from an increase in consumer demand. The growth of the customer base subsequent to year end has begun to yield positive results. Substantial new accounts have been procured which should partially mitigate against volume decline. In order to improve profitability in this difficult trading environment, management have also focused on continued cost reduction and optimal resource utilisation. Accordingly, management is cautiously optimistic that these initiatives will produce comparable earnings in the new financial year.
24 Apr 2009 14:41:36
(Official Notice)
During the past two years, management has been focused on returning the company to acceptable profitability levels. This entailed re-pricing and re-modelling of certain service offerings, improving vehicle utilizations and reducing costs. The group has derived the benefits from these initiatives for the full year which has led to an improvement in margin and profitability levels. Accordingly, shareholders are advised that estimated headline and basic earnings per share for the 2009 financial year will be 80% to 100% higher than that of the previous corresponding period. Additional information will be provided on or about 14 May 2009 when the results for the year ended 28 February 2009 are published.
12 Feb 2009 11:40:07
(Official Notice)
Value group Ltd hereby advises that Mr Derek Arthur Todd has tendered his resignation as director with effect from 28 February 2009.
21 Oct 2008 16:35:02
(C)
Revenue was up 27% to R681 million (R535.1 million). Operating profit increased by 165% to R60.5 million (R22.8 million). Net attributable profit for the period more than tripled to R36.3 million (R9.7 million). In addition, headline earnings grew by 278% to 20.4cps (5.4cps).



Dividend

No interim dividend has been declared.



Prospects

During the last two years, the 5% increase in the prime interest rate has had a marked impact on consumer disposable income. Inflationary pressures resulting from associated price increases have exacerbated the situation, which has resulted in reduced market demand due to consumers opting to purchase necessities and affordable items. This trend was evident in the August 2008 volumes which were below those of August 2007. Nevertheless, the combined activity from the increased customer base should ensure that volumes are at least equivalent to that achieved in the same period last year. Accordingly, although the remaining six months' volume growth may be static, the positive effects arising from the re-alignment of resources and infrastructure utilisation should contribute to earnings for the current financial year exceeding those achieved for the previous year.
25 Sep 2008 11:32:26
(Official Notice)
Shareholders are advised that all resolutions were passed by the requisite majority at the annual general meeting held on Tuesday, 23 September 2008.
29 Aug 2008 16:28:00
(Official Notice)
Value advises that it has, via its subsidiary company, entered into an agreement to repurchase shares during its closed period. This period commences on 1 September 2008 and ends on 22 October 2008 when the company?s 2009 interim results are scheduled to be released.
26 Aug 2008 17:26:50
(Official Notice)
Shareholders are advised that the company's annual financial statements for the year ended 29 February 2008 were posted to shareholders on 22 August 2008 and contain no modifications to the reviewed results which were published on 16 May 2008. Charles Orbach - Company audited the results and the annual financial statements of Value Group and their reports are available for inspection at the registered offices of the company.



The annual general meeting of the company will be held at 09:00 on Tuesday, 23 September 2008 at Value City, Essex Road, Tunney, Germiston, Johannesburg to transact the business as stated in the notice of the annual general meeting.
04 Aug 2008 11:35:56
(Official Notice)
Mr Garth James Igesund has tendered his resignation with effect from 1 August 2008.
04 Aug 2008 11:31:58
(Official Notice)
In terms of paragraph 11.27 of the JSE Listings Requirements, Value announced that it has acquired, in the open market, a further 6 308 679 ordinary shares, equivalent to 3.07% of the issued share capital at the time of the granting of the general authority, for the total consideration of R13 361 219. The repurchases were carried out between 20 May 2008 and 1 August 2008. The highest price paid was R2.25 per share and the lowest price paid was R1.85 per share. The average price paid was R2.10 per share.



Source of funds

The repurchases to date have been funded from available cash resources and it is intended that all future purchases will also be funded from available cash resources.
27 Jun 2008 10:06:33
(Official Notice)
Value cancelled and de-listed 9 968 294 ordinary shares in terms of the general authority to repurchase shares approved by shareholders at the Annual General Meeting held on 27 September 2007.
16 May 2008 16:32:20
(C)
Turnover, generated from a more diversified customer base in respect of both the number of customers and the industry served, increased by 13% from R1 034 billion to R1 165 billion. Operating margins before depreciation improved from 9.9% to 12.5%. Operating profit after depreciation improved by 144% from R33 million to R80.5 million. These margin improvements and internal cost optimisations contributed to a 169% increase in headline earnings from 9.6 cents to 25.8 cents per share.



Dividends

A dividend of 7 cent per share was declared for the period under review.



Prospects

The recent increases in prime overdraft rates to curb inflation will have an effect on the group?s borrowing costs and on consumer disposable income. This has been exacerbated by large increases in the price of fuel which affects our customer?s product costs to the consumer. These inflationary pressures are expected to dampen consumer demand. Consequently, it is possible that volume growth amongst the existing customer base may be small or even reduced. Subsequent to year end trading conditions have been favourable and thus further improvement in the 2009 financial results is anticipated.
08 May 2008 18:10:38
(Official Notice)
Shareholders are advised that estimated headline earnings per share for the 2008 financial year will be 160% to 180% higher than that of the previous corresponding period whereas estimated basic earnings per share for the same 2008 period will be 230% to 250% higher than the previous corresponding period. The large variation between headline and basic earnings is principally due to the after tax effect of the impairment of intangible assets in the 2007 and 2008 financial years. Additional information will be provided on or about 16 May 2008 when the results for the year ended 29 February 2008 are published.
25 Mar 2008 10:40:23
(Official Notice)
Value announces that it has acquired, in the open market, a further 7 857 138 ordinary shares, equivalent to 3.82% of the issued share capital at the time of the granting of the general authority, for the total consideration of R14 610 686. The repurchases were carried out between 20 February 2008 and 19 March 2008. The highest price paid was R1.91 per share and the lowest price paid was R1.76 per share. The average price paid was R1.85 per share.
29 Feb 2008 16:42:57
(Official Notice)
Closed period share repurchase programme

Further to the announcement published on Sens on 28 February 2008 we wish to advise that it is the intention to repurchase shares to a maximum total value of approximately R15.75 million.
28 Feb 2008 10:01:39
(Official Notice)
Value advises that it has, via its subsidiary company, entered into an agreement to repurchase shares during its closed period. This period commences on 1 March 2008 and ends on 16 May 2008 when the company?s results are scheduled to be released.
21 Feb 2008 14:11:54
(Official Notice)
In terms of a general authority granted by Value shareholders at the Value annual general meeting held on 27 September 2007, a special resolution was passed to approve the repurchase of its ordinary shares. A maximum of 41 119 808 ordinary shares (being 20% of the issued share capital) could be acquired.



Value announces that it had acquired, in the open market, 6 800 000 ordinary shares, equivalent to 3.31% of the issued share capital at the time of the granting of the general authority, for the total consideration of R13 056 403. The repurchases were carried out between 19 December 2007 and 19 February 2008. The highest price paid was R2.20 per share and the lowest price paid was R1.76 per share. The average price paid was R1.92 per share. The extent of the authority outstanding is 34 319 808 ordinary shares, equivalent to 16.69% of the total number of shares in issue. The repurchases to date have been funded from available cash resources and it is intended that all future purchases will also be funded from available cash resources.
18 May 2006 15:29:47
(Official Notice)
Derek Arthur Todd has been appointed as director of Value with effect from 17 May 2006.
16 May 2006 18:15:20
(C)
Turnover increased by 23% from R718.1 million to R885.9 million. This increase was predominantly organic and attributable to the additional customer base and increased volumes. Operating profit increased by 21% from R84.7 million to R102.6 million. Net finance costs increased by R3.8 million due to additional interest-bearing debt raised to fund asset acquisitions. Furthermore, the effective rate of taxation increased from 29.9% to 32.6%, resulting in an additional R2.6 million tax cost. This increase arose from the permanent difference pertaining to the amortisation and impairment of the intangible asset and the benefit from the deferred tax rate adjustment effected in the previous year. Consequently, headline earnings grew by 12% from 30.7c to 34.3c per share. Cash flows remained strong throughout the year. Cash generated by operations increased by 22% from R126.4 million to R154.9 million. Operating cash flows amounting to R123.5 million were utilised to fund the major portion of the group's investment in its IT, warehouse and vehicle asset infrastructure. The group's ability to fund this extraordinary expenditure to grow capacity, bodes favourably to increase future free cash flows. The group's net asset value increased by 16% from 158.2c to 184.3c per share.



Dividend

The group's generation of positive cash flows will be sufficient to cover future operational and reduced capital expenditure. Accordingly, the board has resolved to pay a cash distribution of 7cps payable out of share premium, in lieu of a final dividend for the year ended 28 February 2006, subject to shareholder approval to be obtained at the Annual General Meeting to be held on or about 15 August 2006.



Prospects

The group's substantial investment in its vehicles, resources and distribution facilities over the past two to three years has now provided a platform for sustained long-term organic growth in all divisions. It is anticipated that a buoyant economy with a stable interest rate and diesel price will contribute to an increase in headline earnings for the 2007 financial year at least in line with inflation.
31 Mar 2006 16:19:07
(Official Notice)
Mr Daniel Christoffel Marais has tendered his resignation with effect from 31 March 2006.
26 Oct 2005 09:33:11
(C)
26 Sep 2005 15:13:11
(Media Comment)
Snip Trading, a significant client of Value subsidiary, Countrywide Transport is currently in liquidation after a development went wrong. Although Business Day noted that this could have major consequences on Countrywide Transport, Value`s CEO, Steven Gottschalk, noted that Value would be able to absorb the blow, and the impact would not affect the group`s earnings expectations.
16 Aug 2005 17:47:54
(Official Notice)
Shareholders are advised that all resolutions were passed by the requisite majority at the annual general meeting held on Tuesday 16 August 2005.
03 Aug 2005 16:34:23
(Official Notice)
Shareholders are advised that the company`s annual financial statements for the year ended 2005 were posted to shareholders and contain no modifications to the audited results which were published on 11 May 2005.



The annual general meeting of the company will be held at 14h00 on Tuesday 16 August 2005 at 49 Brewery Road, Isando, Johannesburg.
02 Aug 2005 15:13:19
(Official Notice)
Further to the announcement dated 18 July 2005, Value shareholders are advised that the acquisition of Countrywide Footwear Carriers has become unconditional in all respects.
18 Jul 2005 16:32:32
(Official Notice)
Further to the announcement made on 17 May 2005, shareholders are advised that Value has entered into a further agreement with CFC and Consolidated Importers and Exporters (Pty) Ltd (`the Vendor`), in terms of which the date for the fulfilment of the remaining conditions precedent attached to the acquisition, is further extended to 1 August 2005.
07-Aug-2018
(X)
Value is a holding company whose shares are listed on the JSE Ltd. Subsidiary companies provide
a comprehensive range of tailored logistical solutions throughout southern Africa. The major operating divisions specialise
in providing a diversified range of supply chain services, which encompass distribution, transport, clearing and forwarding,
warehousing, fleet management, materials handling and commercial vehicle rental and full maintenance leasing.
The Group?s retail segment supplies FMCG products into the convenience, formal and informal market.


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