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Sharenet Sites
Voluntary update on the impact of civil unrest on Tiger Brands' operations
TIGER BRANDS LIMITED
(“Tiger Brands” or “the Company”)
(Incorporated in the Republic of South Africa)
(Registration number 1944/017881/06)
Share code: TBS
ISIN: ZAE000071080
VOLUNTARY UPDATE ON THE IMPACT OF CIVIL UNREST ON TIGER BRANDS’
OPERATIONS
The current incidents of civil unrest, widespread looting and
vandalism in Kwa-Zulu Natal (KZN) and parts of the Gauteng
province have had a material impact on Tiger Brands’ operations,
particularly in KZN. A number of our sites in KZN have been
affected by acts of looting and vandalism resulting in damage to
our Rice and Snacks & Treats operations. In relation to the
affected sites, the extent of damage to property and
infrastructure is subject to our ability to safely access the
affected properties and is still to be determined. It is
currently estimated that the loss of stock is in excess of R150
million. The loss of profit due to business interruption is
still being quantified. The situation in KZN remains volatile,
presenting a further risk to other Tiger Brands facilities in the
area.
In addition, bakery operations and the distribution of bread have
been suspended in the KZN region, whilst deliveries of bread in
Gauteng have been affected by challenges in accessing certain
areas as well as the closure of customer stores.
Tiger Brands’ immediate priority is the well-being and safety of
its employees. Consequently, we have suspended operations at
affected locations where our risk assessments concluded that it
was prudent to do so and temporarily closed all our operations in
KZN.
The Company has appropriate insurance cover and has notified its
insurers accordingly. Coverage is subject to the terms and limits
of the policies.
As the largest food manufacturer in the country, we are working
closely with our supply partners to ensure ongoing production at
our operations. However, security of supply to consumers is
subject to the re-opening of key transport routes and access to
the operations of our retail and wholesale partners.
We are engaging with government and support efforts by law
enforcement agencies to restore calm, reopen key distribution
routes and create a safe environment for the resumption of normal
business activity.
The Company will issue further communication when it is
appropriate to do so.
Any financial information contained in this announcement has not
been reviewed or reported on by Tiger Brands’ auditors.
Bryanston
15 July 2021
Sponsor
JP Morgan Equities South Africa Proprietary Limited
Date: 15-07-2021 09:02:00
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