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Strategy and expressions of interest update
Group Five Limited
(Incorporated in the Republic of South Africa)
(Registration number 1969/000032/06)
Share code: GRF ISIN: ZAE000027405
("Group Five" or "the company" or "the group")
Strategy and expressions of interest update
As communicated to the market at the group’s year-end results presentation in August 2017,
the newly-constituted board of Group Five committed to commence the F2018 year with a
critical evaluation of the group’s strategy and the appropriateness of its clusters, businesses
and asset-base to ensure value creation for all stakeholders.
In line with this, the CEO, supported by his executive team, formulated a revised strategy and
optimal group structure which received in-principle approval from the board on 4
October 2017. The board and management team are conscious of the urgent need to address
its underperforming operations in a rapidly-changing and challenging market landscape and
to ensure that the strategic positioning of all clusters and businesses are evaluated. The board
is committed to report back to the market on its strategic intent and implementation plan as
soon as possible. The board and management will finalise and communicate the agreed way
forward during the course of October 2017.
As previously disclosed, the board also confirms that it has received a number of expressions
of interest from credible parties, and continues to receive new expressions of interest. These
relate to various assets and businesses within the group. It should be noted that the board is
currently not in possession of a firm intention offer. The board is aware of its fiduciary duty and
responsibility to evaluate any action that could potentially lead to a value-enhancing position
for shareholders. The board is assessing all these expressions of interest received, will
engage with parties, where appropriate, and is committed to keeping shareholders properly
informed.
06 October 2017
Sponsor
Nedbank Corporate and Investment Banking
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