CHOPPIES ENTERPRISES LIMITED - Withdrawal of trading statement, delayed release of results and update of cautionary announcement

Release Date: 23/03/2018 14:00
Code(s): CHP
 
Wrap Text
Withdrawal of trading statement, delayed release of results and update of cautionary announcement

Choppies Enterprises Limited
(Registration number 2004/1681)
JSE share code: CHP
BSE share code: CHOPPIES
ISIN: BW0000001072
Tax reference number: C08710401018
(“Choppies” or the “Company”)


WITHDRAWAL OF TRADING STATEMENT, DELAYED RELEASE OF RESULTS FOR
THE HALF YEAR ENDED 31 DECEMBER 2017 AND UPDATE OF CAUTIONARY
ANNOUNCEMENT


The Board of Directors of Choppies Enterprises Limited advises that they have instructed management
to perform more detailed procedures on verification and valuation of inventory in conjunction with the
new external auditor PricewaterhouseCoopers (PwC), appointed on 31 January 2018. This process will
only be completed by 30 April 2018 and hence creates uncertainty regarding the impact of any potential
adjustments, if any, on the results.

Shareholders are referred to the trading statement released on SENS on 26 February 2018, and are
advised that due to the procedures being conducted on the inventory, the guidance contained in the
trading statement cannot be relied upon and the Company hereby retracts the trading statement.

The Board would also like to inform shareholders that the publication of results for the half year ended
31 December, 2017 will be delayed and are expected to be published on or before 30 April 2018.

Shareholders are further advised to continue to exercise caution when dealing in the Company’s shares
until the results are released.


23 March 2018

BSE Sponsoring Broker
African Alliance Botswana Limited

JSE Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)



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