HOME     SUBSCRIBERS     TRADE     PRODUCTS & SERVICES    
About Sharenet
Enter any share name or code:    

07-Aug-2019
(Official Notice)
07-Jun-2018
(Permanent)
Prices, dividends, results and other data shown for dates prior to 7 June 2018 relate to DST, which became DGH due to a capital reorganisation. Operational and reporting continuity were preserved. See SENS of 22 June 2017.
04-Mar-2019
(Official Notice)
Distell is pleased to announce the appointment of Mr K Kruythoff as non-executive director to the Board of Distell, with effect from 1 April 2019.

01-Mar-2019
(C)
20-Feb-2019
(Official Notice)
The board of directors of Distell informs shareholders and potential investors that as a result of its overall strategy to simplify its operating model, a number of changes have been made to its executive team.



The realignment is aimed at strengthening execution across Distell's entire value chain and aligning the business model with the right capabilities required to grow and win in chosen markets. Four key changes include:

*Creation of a central Growth and Innovation function with more agile and responsive innovation capabilities, insights led strategy and a digitally-enabled growth mandate to create more relevant experiences for our consumers.

*Decentralise regional brand and portfolio management to the Business Units to get closer to consumers and reduce duplication across the business.

*Align and focus the International and Premium Wines businesses into a Ventures Business BU to deliver high value premium products in priority markets.

*Establishment of a central Corporate Services function which will enable our digital transformation, build deeper analytics capabilities and expand professionalise services delivered by The HIVE (Distell's shared service centre).



- Donovan Hegland (formerly Director: Global Marketing) will lead the new Growth and Innovation organization.

- Kate Rycroft (formerly Director: Corporate Development) will lead the Ventures Business.

- Kershen Pillay will join the Executive Leadership Team as Director: Corporate Services.

- Andre Opperman will drive change initiatives going forward in a temporary role as Director of Strategic Change Initiatives, reporting to the CEO.

- Lizelle Malan remains in her role as Group company secretary, reporting to the CFO.

- Fraser Thornton (MD: International) and Kay Nash (CEO: Libertas Vineyards and Estates) will continue managing their current portfolios and report into Kate Rycroft.

- Marius Lambrechts (formerly Director: Innovation) will move into a more strategic role to be announced.



The remaining executive team remains in their roles. These changes take effect on April 1st 2019.



The Company will address this and other operating model initiatives at its Interim Financial Results (up to December 2018) webcast on March 1st, 2019 at 12.00 CAT. Registration details can be found at www.distell.co.za/investor- centre/
06-Nov-2018
(Official Notice)
The Board of Directors of Distell ("the Board") announced that Mr PE Beyers will retire as Independent Non-Executive Director with effect from 30 June 2019.
24-Oct-2018
(Official Notice)
At the first (1st) annual general meeting (?AGM?) of the shareholders of the newly listed company, Distell Group Holdings Ltd. held today, 24 October 2018, all the ordinary and special resolutions proposed at the meeting were approved by the requisite majority of votes.
24-Oct-2018
(Official Notice)
05-Oct-2018
(Official Notice)
Shareholders are hereby notified that the Company?s annual compliance report in terms of section 13G(2) of the Broad-Based Black Economic Empowerment Amendment Act No. 46 of 2013 is available on the Company?s website, www.distell.co.za/corporate-responsibility.
19-Sep-2018
(Official Notice)
With regard to the audited results for the year ended 30 June 2018, shareholders are advised that the annual financial statements will be distributed to shareholders today, 19 September 2018 and contain no modifications to the audited results which were published on SENS on 24 August 2018. We confirm, that there have been no changes to the unqualified auditor?s report which was referenced in the audited results and made available to shareholders at the Company?s registered office on the same date as the release of the audited results.



Notice of the annual general meeting

Notice is hereby given that the 1st annual general meeting of Distell shareholders will be held on Wednesday, 24 October 2018 at 11:00 at Nederburg Wines, Sonstraal Road, Daljosafat, Paarl, Western Cape to transact the business as stated in the annual general meeting notice forming part of the annual financial statements.



Salient dates

The notice of the Company?s annual general meeting has been sent to its shareholders who were recorded as such in the Company?s securities register on Friday, 07 September 2018 being the notice record date used to determine which shareholders are entitled to receive notice of the annual general meeting.



In terms of section 59(1)(b) of the Companies Act, the record date for purposes of determining which shareholders of the Company are entitled to participate in and vote at the annual general meeting, is Friday, 19 October 2018. Accordingly, the last day to trade in order to be registered in the register of members of the Company and therefore be eligible to participate in and vote at the annual general meeting is Tuesday, 16 October 2018. Proxy forms must be lodged by no later than 11:00 on Monday, 22 October 2018. Any forms of proxy not lodged by this time must be handed to the chairperson of the annual general meeting at any time before the appointed proxy exercises any shareholder rights at the annual general meeting.



Integrated Report Shareholders are advised that the Company?s integrated report, the notice and proxy of the annual general meeting and the annual financial statements for the year ended 30 June 2018 has been published on the Investor Relations section of the Company?s website www.distell.co.za/investor-centre today.
24-Aug-2018
(C)
22-Aug-2018
(Official Notice)
26-Jul-2018
(Official Notice)
The board of Directors of Distell (?the board?) announced that Mr MJ Bowman has resigned as a non-executive director of the board, effective 26 July 2018.



Mr Bowman was appointed to the board in 2017 but is now obliged to resign given a potential conflict of interest due to a personal investment in a Cape based drinks operation.
24-Apr-2019
(X)
Distell (DGH) is Africa's leading producer of spirits, wines, ciders and ready-to-drinks (RTDs) as well as the world's second biggest producer of ciders. The company produces and markets a diverse portfolio of award-winning alcoholic brands that have been crafted by extraordinary people across the world. Some of these brands include Amarula, Savanna, Bain's, Hunter's Dry, Durbanville Hills, Scottish Leader and Nederburg.
22-May-2018
(Official Notice)
Unless otherwise indicated, capitalised words and terms contained in this announcement shall bear the same meanings ascribed thereto in the Distell Group Holdings Ltd. Prospectus, the Distell Circular and the Capevin Circular distributed on Wednesday, 20 September 2017.



Distell Shareholders and Capevin Shareholders are referred to the joint finalisation announcement released on SENS on Monday, 14 May 2018, in relation to the Transaction.



Distell Shareholders and Capevin Shareholders are alerted to the release of the abridged prospectus of Distell Group Holdings Ltd. on SENS under the JSE share code DGH. The abridged prospectus is available on the Distell and Capevin websites respectively, at www.distell.co.za/investor-centre and www.capevin.com.
14-May-2018
(Official Notice)
04-Apr-2018
(Official Notice)
On Monday, 29 January 2018, Distell and Capevin Holdings Ltd. ("Capevin") issued a joint announcement in relation to the extension of the date for fulfilment or waiver, as the case may be, of the outstanding Conditions Precedent to the Transaction.



The Transaction is subject, inter alia, to approvals being obtained from the relevant competition authorities in a number of jurisdictions. The process to obtain these consents from the relevant competition authorities is still ongoing and is taking longer than originally anticipated.



Accordingly, DGHL, Distell and Capevin have agreed to extend the date for fulfilment or waiver, if applicable, of all the outstanding Conditions Precedent, from Friday, 6 April 2018, to Thursday, 31 May 2018.



A detailed timetable will be released as part of the finalisation announcement once all Conditions Precedent have been fulfilled or waived, if applicable.
23-Feb-2018
(C)
29-Jan-2018
(Official Notice)
On Friday, 27 October 2017 Distell and Capevin issued announcements in relation to the results of the Distell Scheme Meeting and Capevin Scheme Meeting and referring to the remaining salient dates and times of the Transaction.



The Transaction is subject inter alia to approvals being obtained from the relevant competition authorities in a number of jurisdictions. The process to obtain these consents from the relevant competition authorities is ongoing and is taking longer than originally anticipated.



Accordingly, DGHL, Distell and Capevin have agreed to extend the date for fulfilment or waiver, if applicable, of all the outstanding Conditions Precedent, from Monday, 29 January 2018 to Friday, 6 April 2018.



A detailed timetable will be released as part of the finalisation announcement once all Conditions Precedent have been fulfilled or waived, if applicable.
20-Dec-2017
(Official Notice)
Distell entered into a definitive agreement to sell its cognac business, Bisquit Dubouche et Cie (?Bisquit?), to Campari Group for an Enterprise Value of EUR52.5 million (approximately R800m) (?the Disposal?). The Disposal is expected to close during the first quarter of 2018.



Under the terms of the Disposal agreement, Campari will acquire all of the shares in Bisquit, existing stock, maturing inventory, trademarks and production facilities including warehouses, blending cellars and a bottling plant of the entity.



The Disposal is in line with Distell?s strategic intent to focus on a core portfolio of categories, brands and assets that support the Company?s growth ambitions and ultimately generate long-term shareholder value.
15-Nov-2017
(Official Notice)
The board of directors of Distell clarified the details of the trade in 58.7 million of the company?s ordinary shares on 6 October 2017.



These ordinary shares constitute a beneficial interest in the ordinary share capital of the company acquired by the Public Investment Corporation SOC Ltd. (?PIC?) from Other Beverages Interests (Pty) Ltd. (?OBI?), owned by Anheuser-Busch Inbev SA/NV on 12 April 2017. In this regard, shareholders are referred to the Stock Exchange News Service announcement released by Distell at 16h15 on 12 April 2017.



Distell fulfilled its reporting obligations to the market and recorded the shares in its company register, at the time of change in ownership.



Any further queries relating to the nature, timing and price of the trade are to be directed to the relevant parties, being the PIC and OBI.
09-Nov-2017
(Official Notice)
30-Oct-2017
(Official Notice)
Distell announces the appointment of Mr MJ Bowman as non-executive director to the board of Distell, with effect from 27 October 2017.



27-Oct-2017
(Official Notice)
27-Oct-2017
(Official Notice)
At the twenty ninth (29th) annual general meeting ("AGM") of the shareholders of Distell held today, 27 October 2017 all the ordinary and special resolutions proposed at the meeting were approved by the requisite majority of votes. Total issued share capital is 222 382 356. Total number of shares that can be exercised at the meeting is 219 388 911. A total of 2 993 445 of the ordinary shares in issue are classified as Treasury shares, comprising 1.34% of the total ordinary shares in issue, were not entitled to vote. The special resolution/s will, where necessary, be lodged for registration with the Companies and Intellectual Property Commission in due course.

27-Oct-2017
(Official Notice)
During the first three months (1 July 2017 - 30 September 2017) of the new financial year ending 30 June 2018, Distell recorded muted revenue growth compared to the corresponding period in the previous financial year.



The company's domestic South African operations recorded overall revenue growth in an environment of near stagnant economic growth and intensified competitor activity as consumers seek value offerings.



In the rest of Africa the company achieved good revenue and volume growth in Zambia and Ghana. The performance of KWA Holdings E.A. Ltd., of which we acquired the majority shareholding in April 2017, was also encouraging with volume and revenue growth well up on the previous year. However, the overall performance of the African region was negatively impacted as it continues to feel the effects of low commodity prices on economic growth across many parts of the continent.



In the international markets, the US, Netherlands, Switzerland and New Zealand are showing good growth, with global trading conditions remaining lackluster and highly competitive.



The outlook for economic growth remains volatile and uncertain in many of the markets in which Distell trades. The Group continues to simplify its business to create more focus while enhancing efficiencies and lowering its cost base.
03-Oct-2017
(Official Notice)
Shareholders are hereby notified that in accordance with the JSE Listings Requirements, the Company?s annual compliance report in terms of section 13G(2) of the Broad-Based Black Economic Empowerment Amendment Act No. 46 of 2013, has been published and is available on the Company?s website, www.distell.co.za.
26-Sep-2017
(Official Notice)
With regard to the audited results for the year ended 30 June 2017, shareholders are advised that the annual financial statements will be distributed to shareholders today, 26 September 2017 and contain no modifications to the audited results which were published on SENS on 30 August 2017.



Notice of the annual general meeting

Notice is hereby given that the 29th annual general meeting of Distell shareholders will be held on Friday, 27 October 2017 at 13:00 or as soon as possible thereafter once the general meeting convened by the Company to consider the proposed adoption of the conditional share plan incentive scheme, as detailed in the incentive plan circular to shareholders posted on 20 September 2017, has concluded at the Van Ryn?s Distillery - Brandy Cellar,Van Ryn Road, Vlottenburg, Stellenbosch, Western Cape to transact the business as stated in the annual general meeting notice forming part of the annual financial statements.



Salient dates

The notice of the Company?s annual general meeting has been sent to its shareholders who were recorded as such in the Company?s securities register on Friday, 15 September 2017 being the notice record date used to determine which shareholders are entitled to receive notice of the annual general meeting.



In terms of section 59(1)(b) of the Companies Act, the record date for purposes of determining which shareholders of the Company are entitled to participate in and vote at the annual general meeting, is Friday, 20 October 2017. Accordingly, the last day to trade in order to be registered in the register of members of the Company and therefore be eligible to participate in and vote at the annual general meeting is Tuesday, 17 October 2017. Proxy forms must be lodged by no later than 13:00 on Wednesday, 25 October 2017. Any forms of proxy not lodged by this time must be handed to the chairperson of the annual general meeting at any time before the appointed proxy exercises any shareholder rights at the annual general meeting.



20-Sep-2017
(Official Notice)
31-Aug-2017
(C)
Revenue for the year rose by 3.7% to R22.3 billion (R21.5 billion). Operating profit went down 12.1% to R2.1 billion (R2.4 billion). Profit attributable to equity holders lowered 15.3% to R1.3 billion (R1.5 billion). In addition, headline earnings per share fell 3.7% to 708.3% (R735.3%).



Dividend

The directors have resolved to declare a gross cash dividend, number 58, of 214.0 cents (214.0 cents) per share for the year ended 30 June 2017.This represents a total dividend of 379.0 cents (379.0 cents) for the year and a dividend cover of 1.9 times (1.9 times) by headline earnings.



Company prospects

Global economic growth remains muted while African GDP growth is still being impacted by low commodity prices. On the domestic front, recessionary circumstances continue to put additional pressure on consumers. Exchange rates continue to be volatile. A modest recovery in economic growth can only be expected in the latter half of next year.



The Group continues to invest in priority markets as it seeks to expand its RTM presence, specifically in Africa. In addition, significant restructuring of the Group's brand portfolio and asset base is underway to simplify and focus our business. This process will take two to three years to be fully implemented and are accompanied by changes to our organisational structures and operating models. We are confident that these changes will serve to create a more agile and efficient 21st century business. Distell has a diversified and exciting range of well-priced, good quality wine, spirit, cider and RTD brands. This enables the Group to compete effectively and to continue to maximise trading opportunities.
23-Aug-2017
(Official Notice)
The board of Directors of Distell (?the board?) announced that Mrs LM Mojela and Mr BJ Van der Ross will retire as non-executive directors from the board of Distell at the company?s Annual General Meeting to be held on 27 October 2017.
04-Aug-2017
(Official Notice)
28-Jul-2017
(Official Notice)
22-Jun-2017
(Official Notice)
24-Apr-2017
(Official Notice)
Shareholders are hereby advised that Distell has entered into a partnership on Cruz Vodka with Blue Sky Brand Company (Pty) Ltd. (?BSBC?) by agreeing to acquire a 75% shareholding in the company that will own the rights to the Cruz Vodka brand and business worldwide (the ?Transaction?). BSBC will hold the remaining 25% shareholding and will be integrally involved in the Cruz Vodka brand going forward.



About Cruz Vodka

Cruz Vodka is the fastest growing luxury imported vodka in South Africa and has strong quality credentials. Cruz Vintage Black Vodka has won numerous gold medals at leading international competitions such as London Vodka Masters, Consumer Choice Awards USA, SIP Awards USA and Fifty Best Vodka?s New York. Made from hand selected American wheat, Cruz Vodka is available in Vintage Black and four flavoured varietals.



Strategic rationale

Distell is one of Africa?s leading producers and marketers of spirits, ciders and wines. The Transaction strengthens Distell?s portfolio in the premium vodka category, one of the fastest growing spirits categories in South Africa and which is expected to continue exhibiting strong growth in the future. Cruz Vodka will immediately benefit from Distell?s distribution network in South Africa and the rest of Africa.



Categorisation of the Transaction

The Transaction consideration represents less than 5% of Distell?s market capitalisation and as such, does not trigger the categorisation requirements in terms of the Listings Requirements of the JSE Ltd..
04-Apr-2017
(Official Notice)
Shareholders are hereby advised that Distell International Holdings Ltd. (?DIH?), a subsidiary of Distell, has completed the acquisition of a 26.43% shareholding in KWAL from Centum Investment Company Ltd. (the ?Transaction?). Following the Transaction, Distell now has a majority shareholding of 52.43% in KWAL.



About KWAL

KWAL is Kenya?s foremost spirits, wine and ready-to-drink manufacturer and distributor with volumes in excess of 8 million litres in 2016 and a portfolio of leading local brands such as Kibao, Kingfisher and Caprice which have shown strong growth in recent years.



Distell?s relationship with KWAL dates back to 1998 when KWAL started distributing a selection of the company?s brands. In December 2014, Distell acquired a 26% shareholding in KWAL through a Kenya government privatisation process.



Strategic rationale

Distell is one of Africa?s leading producers and marketers of spirits, wines and ciders and other ready-to- drink beverages. The Transaction is expected to strengthen Distell?s position in Kenya, a large and highly attractive alcoholic beverage market.



Kenya is widely expected to be one of the fastest growing economies in Africa over the next decade, driven by rapid urbanisation and strong income per capita growth. Spirits has been the fastest growing segment of Kenya?s alcoholic beverage industry and growth is expected to remain robust going forward. KWAL, as Kenya?s leading local spirits, wine and ready-to-drink player, is poised to benefit from the economy and alcoholic beverage sector?s strong growth. Distell?s majority shareholding will foster closer co-operation between KWAL and Distell which will support KWAL?s continued growth and deliver a range of synergies.



Categorisation of the Transaction

The Transaction consideration represents less than 5% of Distell?s market capitalisation and as such, does not trigger the categorisation requirements in terms of the Listings Requirements of the JSE Ltd.
24-Feb-2017
(Official Notice)
Shareholders are referred to the announcement released on the Stock Exchange News Service on 23 February 2017 in which they were advised, inter alia, that the board of directors had resolved to declare an interim gross cash dividend to shareholders recorded in the register of the Company on Friday, 17 March 2017 ("Announcement").



Shareholders are now advised that, consequent to the announcement by Minister Gordhan of an increase in the dividend withholding tax ("DWT") rate from 15% to 20%, in his budget speech of 22 February 2017, the DWT applicable to the gross cash dividend to be paid to shareholders who are not exempt from DWT is 20%.



The net dividend amount is accordingly 132.0 cents per share and not 140.25 cents per share, as previously announced. The remainder of the Announcement is unaffected.

23-Feb-2017
(C)
15-Feb-2017
(Official Notice)
The Board of Directors of Distell (?the Board?) announced that Mr KA Hedderwick has resigned as a non-executive director from the Board of Distell, with effect from 14 February 2017. Mr Hedderwick has regretfully tendered his notice due to his unavailability for a six-month period during which he will be undergoing and recuperating from unplanned back and knee surgery.
15-Dec-2016
(Official Notice)
Shareholders are referred to the joint announcement released on the Stock Exchange News Service on 15 December 2016 by Remgro Ltd. and Capevin Holdings Ltd. regarding the proposed disposal by Anheuser-Busch Inbev SA/NV (?AB InBev?) of its interest in Distell to the Public Investment Corporation (SOC) Ltd. (?the PIC?). Distell welcomes the PIC as a new major shareholder, subject to implementation of the proposed disposal by AB InBev, and is looking forward to working together.

24-Nov-2016
(Official Notice)
The board of directors of Distell hereby announces that Mr David Nurek will retire as independent non-executive director and chairman of Distell, with effect from 24 November 2016.



The board of directors of Distell further announces that Mr Jannie Durand, who joined the board in 2012 as a non-executive director, will succeed Mr Nurek as Chairman, with effect from 24 November 2016.



Mr Andre Parker, who joined the board in 2008 as independent non- executive director, has been appointed as lead independent director with effect from 24 November 2016.







20-Oct-2016
(Official Notice)
At the twenty eight (28th) annual general meeting (?AGM?) of the shareholders of Distell held today, 20 October 2016 all the ordinary and special resolutions proposed at the meeting were approved by the requisite majority of votes.
20-Oct-2016
(Official Notice)
During the first three months (1 July 2016 - 30 September 2016) of the new financial year ending 30 June 2017, Distell recorded muted revenue growth compared to the corresponding period in the previous financial year. Our domestic South African operations recorded overall volume and revenue growth in an environment of slower economic growth, increased competition and curtailed real consumer spending with consumers trading down.



In Africa we achieved good revenue growth in Mozambique and Zimbabwe. However, the overall performance was negatively impacted as we continue to feel the effects of the economic slowdown across many parts of the continent, including Angola, historically our biggest market in the region. In the international markets, Taiwan is showing good growth, with Europe and the rest of Asia remaining challenging and highly competitive.



The outlook for economic growth remains uncertain and trading conditions are expected to remain unpredictable and volatile domestically and in our traditional international export markets. The Group continues to drive efficiencies and cost reduction to protect margins.
21-Sep-2016
(Official Notice)
With regard to the audited results for the year ended 30 June 2016, shareholders are advised that the annual financial statements will be distributed to shareholders today, 21 September 2016 and contain no modifications to the audited results which were published on SENS on 31 August 2016.



Notice of the annual general meeting

Notice is hereby given that the 28th annual general meeting of Distell shareholders will be held on Thursday, 20 October 2016 at 10:00 at The House of J.C. Le Roux, Devon Valley Road, Devon Valley, Stellenbosch, Western Cape to transact the business as stated in the annual general meeting notice forming part of the annual financial statements.



Salient dates

The notice of the Company?s annual general meeting has been sent to its shareholders who were recorded as such in the Company?s securities register on Friday, 9 September 2016 being the notice record date used to determine which shareholders are entitled to receive notice of the annual general meeting.



The record date, for the purpose of determining which shareholders of the Company are entitled to receive notice of the annual general meeting is Friday, 9 September 2016, and in terms of section 59(1)(b) of the Companies Act, the record date for purposes of determining which shareholders of the Company are entitled to participate in and vote at the annual general meeting, is Friday, 14 October 2016. Accordingly, the last day to trade in order to be registered in the register of members of the Company and therefore be eligible to participate in and vote at the annual general meeting is Tuesday, 11 October 2016.
31-Aug-2016
(C)
Revenue for the year was 9.6% higher at R21.5 billion (R19.6 billion).Operating profit gained 10.5% to R2.4 billion (R2.1 billion). Profit attributable to equity holders increased by 6.6% to R1.5 billion (R1.4 billion). In addition, headline earnings per share grew 12.1% to 735.3 cents per share (656.2 cents per share).



Dividend

The directors have resolved to declare a gross cash dividend, number 56, of 214.0 cents (188.0 cents) per share for the year ended 30 June 2016. This represents a total dividend of 379.0 cents (346.0 cents), an increase of 9.5%, for the year and a dividend cover of 1.9 times (1.9 times) by headline earnings.



Prospects

The outlook for global economic growth remains subdued amid volatile trading conditions in many of our key markets. Given the slowdown in 2016, a modest recovery in the developed world and emerging economies is only expected in the medium term. On the domestic front, consumer confidence levels are low and consumer spending will be adversely impacted by higher interest rates and food prices.



The Group nevertheless continues to pursue its long-term strategy to grow shareholder value, but it is reviewing the sequencing and the pace of investment in light of the prevailing economic conditions in certain markets.



Distell remains well-positioned to take early advantage of any improvements in the economic conditions of the markets where it operates, given its diverse portfolio of appealing brands, as well as a strengthened and extended route-to-market network that continues to evolve across a range of economies and regions. The Group a strong financial position and sound balance sheet with which to pursue our strategic ambitions.
22-Jun-2016
(Official Notice)
Distell announced the appointment of Kevin Hedderwick as a non-executive director to the Board of Distell, with effect from 22 June 2016.
01-Jun-2016
(Official Notice)
Shareholders are advised that Distell takes note of the ruling published by the South African Competition Commission regarding the investment that SABMiller plc ("SABMiller") owns in Distell.



The ruling states that SABMiller will have to dispose of its investment in Distell within three years of the conclusion of the proposed merger with Anheuser-Busch InBev SA/NV. As SABMiller does not have any representation on the board of Distell and has never been involved in the management of Distell, the disposal will not impact the way Distell operates. Distell will work closely with all parties involved to ensure the most appropriate outcome for all its shareholders.
15-Apr-2016
(Official Notice)
In compliance with the JSE Ltd. Listings Requirements, the following information is disclosed:



PF Carolin, C Gous, CLC Snyman, JJ Venter and DM Ullrich have resigned as executive directors from the board of Distell Ltd., with effect from 15 April 2016.



D Carruthers, SJ Nathan, KS Rycroft and JP van der Walt have been appointed as executive directors on the board of Distell Ltd., with effect 15 April 2016.
17-Feb-2016
(Official Notice)
Dr E de la H Hertzog has resigned as a non-executive director from the board of Distell Group Ltd, with effect from today, 17 February 2016.

17-Feb-2016
(C)
Revenue increased by 11.2% to R12.2 billion (R11 billion). Operating profit increased by 16.5% to R1.7 billion (R1.5 billion), while profit for the period attributable to equity holders of the company came in higher at 17.5% to R1.2 billion (R990.3 million). Furthermore, headline earnings per share increased by 17.7% to 531.5cps (451.7cps).



Cash dividend declaration

The directors have resolved to declare a gross cash dividend of 165 cents per share for the interim period ended 31 December 2015.



Prospects

The macroeconomic outlook for the remainder of the financial year remains very challenging amid volatile trading conditions in many of our key markets. While a modest recovery is expected in the developed world, emerging economies continue to show slow growth. On the domestic front, consumer spending will be adversely impacted by expected higher inflation, the hikes in interest rates and rising food prices. Tougher trading conditions are therefore expected in the second half of the financial year.



The Group nevertheless continues to pursue its long-term strategy to grow shareholder value, but we are reviewing the sequencing and the pace of investment due to the sharp slowdown of growth in certain markets. We remain well-positioned to take early advantage of any improvements in the economic conditions of the markets where we operate, given our versatile portfolio of strong, appealing and diverse brands, our capacity to trade across a spectrum of markets at a range of price points, and the security of our financial position
25-Jan-2016
(Official Notice)
Distell announces the appointment of Mr Lucas Verwey, as an executive director to the board of Distell Group Ltd, with effect from 25 January 2016.



25-Nov-2015
(Official Notice)
Distell announced the appointment of Ms E G Matenge-Sebesho and Dr D P du Plessis as non-executive directors to the board of Distell, with effect from 25 November 2015.
03-Nov-2015
(Official Notice)
JG Carinus has resigned as non-executive director from the board of Distell Group, at the company?s Annual General Meeting held on 28 October 2015 and with effect from 28 October 2015.



Resignation of directors of a major subsidiary

MJ Botha, DJ Gallow, NT Moodley and K Pillay have resigned as executive directors from the board of Distell Ltd., with effect from 02 November 2015.
28-Oct-2015
(Official Notice)
At the twenty seventh (27th) annual general meeting ("AGM") of the shareholders of Distell held today, 28 October 2015 all the ordinary and special resolutions proposed at the meeting were approved by the requisite majority of votes.



The special resolution/s will, where necessary, be lodged for registration with the Companies and Intellectual Property Commission in due course.
28-Oct-2015
(Official Notice)
During the first three months (1 July 2015 - 30 September 2015) of the new financial year ending 30 June 2016, Distell continued to record strong total revenue growth compared to the same corresponding period in the previous financial year.



"Our domestic South African operations recorded pleasing revenue growth on the back of growth from our spirits, wine and cider brand portfolios in an environment curtailed by job cuts and declines in real consumer spending growth.



In Africa we achieved good revenue growth in Mozambique, Zimbabwe, Ghana and Nigeria. However, the overall performance of the region was negatively impacted by Angola due to the macro economic challenges and higher duties levied once again on imported products in that country.



North America is showing strong growth, with Europe and Asia remaining challenging and highly competitive. Our international operations outside of Africa therefore recorded muted revenue growth compared to the same period in the prior year."



Trading conditions are expected to remain unpredictable and volatile domestically and in our traditional international export markets. The Group continues to invest ahead of income in key strategic capabilities, including its African expansion strategy, while driving efficiencies and cost reduction to protect margins. The financial results for the period were positively influenced by the weaker rand.
29-Sep-2015
(Official Notice)
With regard to the audited results for the year ended 30 June 2015, shareholders are advised that the annual financial statements will be distributed to shareholders on 29 September 2015 and contain no modifications to the audited results which were published on SENS on 19 August 2015.



Notice of the annual general meeting

Notice is hereby given that the 27th annual general meeting of Distell shareholders will be held on Wednesday, 28 October 2015 at 12:00 at the Van Ryn?s Distillery - Brandy Cellar, Van Ryn Road, Vlottenburg, Stellenbosch, Western Cape to transact the business as stated in the annual general meeting notice forming part of the annual financial statements.



Salient dates

The notice of the Company?s annual general meeting has been sent to its shareholders who were recorded as such in the Company?s securities register on Friday, 18 September 2015 being the notice record date used to determine which shareholders are entitled to receive notice of the annual general meeting.



The record date, for the purpose of determining which shareholders of the company are entitled to receive notice of the annual general meeting is Friday, 18 September 2015, and in terms of section 59(1)(b) of the Companies Act, the record date for purposes of determining which shareholders of the company are entitled to participate in and vote at the annual general meeting, is Friday 23 October 2015. Accordingly, the last day to trade in order to be registered in the register of members of the company and therefore be eligible to participate in and vote at the annual general meeting is Friday, 16 October 2015.

28-Aug-2015
(Official Notice)
Further to the announcement released on the Stock Exchange News Service on Monday, 24 August 2015 regarding dealings in Distell securities by a director of a major subsidiary, the company wishes to confirm the nature of the director?s interest therein as direct, beneficial.
19-Aug-2015
(C)
Revenue for the year went up 10.4% to R19.6 billion (R17.7 billion). Operating profit was 1.8% lower at R2.1 billion (R2.2 billion). Profit attributable to equity holders took a 5.7% knock to R1.4 billion (R1.5 billion). Furthermore, headline earnings per share dropped by 9.0% to 656.2 cents per share (721.3 cents per share).



Cash dividend declaration

Normalised headline earnings increased by 6.5% to R1.4 billion. The weighted average number of shares in issue increased by 4.2% to 218.6 million shares, mainly due to the fulfillment of the Group?s obligations under its very successful, innovative and wealth creating BEE ownership initiative during the previous year. Headline earnings per share on a normalised basis therefore increased by 2.3% to 660.3 cents.



The directors have resolved to declare a final gross cash dividend, number 54, of 188.0 cents (183.0 cents) per share for the year ended 30 June 2015. This represents a total dividend of 346.0 cents (337.0 cents), an increase of 2.7%, for the year and a dividend cover of 1.9 times (2.1 times) by headline earnings.



Prospects

The global environment continues to be challenging due to diverging growth. While prospects in the developed world are improving, emerging economies, including South Africa, are showing slower growth. Tough trading conditions are therefore expected to persist.



The Group nevertheless continues to pursue and invest in its long-term strategy to grow shareholder value. This is backed by a robust and diverse portfolio of appealing brands, as well as a strengthened and extended route to market network that continues to evolve across a range of economies and regions.
02-Mar-2015
(Official Notice)
In compliance with the JSE Ltd. Listings Requirements, the following information is disclosed:



M J Botha will retire at the end of August 2015 as Finance Director of Distell and as an Executive Director of Distell with effect from 31 December 2015. As a result, L C Verwey has been appointed as Financial Director of Distell, with effect from 1 September 2015. During the course of 2015 they will work together to ensure a smooth transition and effective handover of duties and responsibilities.
17-Feb-2015
(Media Comment)
According to Business Report Distell has invested about R250 million in the African story and has made inroads into countries such as Ghana and Kenya. The Cape-based producer and marketer of wines and spirits said that it had placed more than 200 sales people in various markets across Africa. Managing director Richard Rushton said the cider story had been a resounding success in South Africa, and that the company was seeing strong growth across southern Africa and pockets in countries further afield. Mr Rushton added that the group was focused on building its cider presence in Africa as well as ready-to drink offerings, which are popular in Angola and Mozambique.
16-Feb-2015
(C)
Revenue increased by 10.5% to R11 billion (R10 billion). Operating profit decreased by 4.6% to R1464 million (R1535 million), while profit for the period attributable to equity holders of the company came in lower at 7.6% to R990.3 million (R1.1 billion). Furthermore, headline earnings per share decreased by 13.4% to 455.7cps (526.1cps).



Cash dividend declaration

The directors have resolved to declare a gross cash dividend, number 53, of 158 cents per share for the interim period ended 31 December 2014.



Prospects

The global environment continues to be challenging due to diverging growth and monetary policy expectations in developed economies alongside a more notable moderation in emerging market growth. Tough trading conditions are therefore expected to persist. The Group nevertheless continues to pursue and invest in its long term strategy to deliver shareholder value. This is backed by a robust and diverse portfolio of appealing brands, as well as a strengthened and extended route to market network that continues to evolve across a range of economies and regions.
22-Oct-2014
(Official Notice)
At the twenty sixth (26th) annual general meeting of the shareholders of Distell held today, 22 October 2014 all the ordinary and special resolutions proposed at the meeting were approved by the requisite majority of votes.
22-Oct-2014
(Official Notice)
23-Sep-2014
(Official Notice)
With regard to the audited results for the year ended 30 June 2014, shareholders are advised that the annual financial statements will be distributed to shareholders on 23 September 2014 and contain no modifications to the audited results which were published on SENS on 25 August 2014.



Notice of the annual general meeting

Notice is hereby given that the 26th annual general meeting of Distell shareholders will be held at 12:45 on Wednesday, 22 October 2014 at the Visitors' Centre of Durbanville Hills Wine Cellar, Durbanville Road (M13), Durbanville, Western Cape to transact the business as stated in the annual general meeting notice forming part of the annual financial statements.



Salient dates

The notice of the company's annual general meeting has been sent to its shareholders who were recorded as such in the company's securities register on Friday 12 September 2014 being the notice record date used to determine which shareholders are entitled to receive notice of the annual general meeting.



The record date, for the purpose of determining which shareholders of the company are entitled to receive notice of the annual general meeting is Friday, 12 September 2014, and in terms of section 59(1)(b) of the Companies Act, the record date for purposes of determining which shareholders of the company are entitled to participate in and vote at the annual general meeting, is Friday 17 October 2014. Accordingly, the last day to trade in order to be registered in the register of members of the company and therefore be eligible to participate in and vote at the annual general meeting is Friday, 10 October 2014.
26-Aug-2014
(Media Comment)
Business Report highlighted that Distell was forging ahead with its African growth strategy, encouraged by strong volume growth especially in the sub-Saharan African markets. Recently the group has began implementing physical operations in the regions such as Ghana, Nigeria and Angola. Locally, Distell had managed to maintain its 21 percent value share of the total liquor market despite the entry of competitors and new products. Distell would also refocus some of its business into whiskey offering as the brandy market slowed down globally.
25-Aug-2014
(C)
Revenue for the year increased by 12.8% to R17.7 billion (2013: R15.7 billion). Operating profit shot up by 22.9% to R2.2 billion (2013: R1.8 billion), while profit attributable to equity holders of the company soared by 40% to R1.5 billion (2013: R1.1 billion). Furthermore, headline earnings per share jumped by 35.7% to 721.3cps (2013: 531.7cps).



Dividend

The directors have resolved to declare a gross cash dividend, number 52, of 183cps (2013: 183cps) for the year ended 30 June 2014. This represents a total dividend of 337 cents (2013: 335 cents) for the year and a dividend cover of 2.1 times (2013: 1.6 times) by headline earnings.



Prospects

Global economic activity has broadly strengthened, but conditions are expected to remain volatile. The balance of risks has improved, but remains on the downside. In the domestic economy high unemployment and moderate growth in disposable income continue to curtail consumer spending and tough trading conditions are expected to persist.



The strength, appeal and diversity of Distell's portfolio of brands, as well as our broad geographic footprint across a range of economies and regions, provide us with opportunities to further unlock real stakeholder value in a trading environment which is en route to recovery, albeit at modest levels.
12-Aug-2014
(Official Notice)
Distell is currently finalising its financial results for the year ended 30 June 2014, which should be released on or about 25 August 2014. In this regard, shareholders are advised that earnings per share and headline earnings per share are likely to be between 33% and 38% higher than the corresponding reporting period of the previous year.



Earnings growth for the year is significantly impacted by a once- off fair value remeasurement of the contingent purchase consideration payable on the Burn Stewart Distillers Ltd. (BSD) acquisition. Prior year provisions for additional excise duty and interest thereon, as well as the transaction cost pertaining to the BSD acquisition, further distorted earnings trends.
21-Jul-2014
(Official Notice)
Shareholders are hereby advised that Distell Ltd., a major subsidiary of Distell, has entered into an agreement in terms of which it will acquire 26% of the issued share capital of KHEAL for a total cash consideration of KES 860 million (approximately R105 million) ("the Transaction").



Nature of business

KHEAL is Kenya's foremost spirits manufacturer, bottler and distributor with strong and established local mainstream brands. KHEAL operates five distribution centres in the country, one in Uganda, as well as a wholly-owned subsidiary in Rwanda. KHEAL also sells products through duty-free outlets in Kenya and Rwanda.



Distell's rationale for the Transaction

Distell's relationship with KHEAL goes back more than 15 years. KHEAL has been bottling a selection of our drive brands and distributing these, along with some of our key South African packaged brands in Kenya and other parts of East Africa.



Distell's wealth of experience in the ciders, spirits and wine segments will bring new capabilities to KHEAL and increase its competitive position that will in turn unlock and create significant value.



Categorisation of the Transaction

The purchase consideration is less than 5% of Distell's market capitalisation and as such, the Transaction does not trigger the categorisation requirements in terms of the Listing Requirements of the JSE Ltd., thus this announcement is voluntary.
25-Jun-2014
(Official Notice)
PR Louw has been appointed as alternate non-executive director for JJ Durand on the board of Distell Group Ltd, with effect from 1 July 2014.

25-Apr-2014
(Official Notice)
LC Verwey has resigned as non-executive director from the board of Distell, with effect from 30 April 2014.
21-Feb-2014
(Official Notice)
The board of directors of the company advise shareholders that, with effect from 1 May 2014, Mr C J Cronj? will retire as company secretary and Mrs L Malan has been appointed to the post in his stead.
20-Feb-2014
(C)
Revenue increased by 15.1% to R9.9 billion (R8.6 billion). Operating profit rose by 27.2% to R1.5 billion (R1.2 billion), profit for the period attributable to equity holders of the company jumped by 23.2% to R1.1 billion (R869.8 million). Furthermore, headline earnings per share climbed 22.6% to 526.1cps (429.2cps).



Cash dividend declaration

The directors have resolved to declare a gross cash dividend, number 51, of 154cps for the interim period ended 31 December 2013.



Prospects

Distell believe challenging trading conditions in many of our markets will persist for the remainder of the year. However, the strength, appeal and diversity of our brands, our enhanced capacity to trade across a spectrum of markets and the security of our financial position will allow us to continue pursuing our strategic course successfully.



12-Feb-2014
(Official Notice)
Distell is currently finalising its financial results for the six months ended 31 December 2013, which should be released on or about 20 February 2014. In this regard, shareholders are advised that earnings per share and headline earnings per share are likely to be between 20% and 25% higher than the corresponding reporting period of the previous year.



Earnings growth for the six months is significantly impacted by the once off fair value remeasurement, in terms of International Financial Reporting Standards, of the contingent purchase consideration payable on the Burn Stewart Distillers Limited acquisition announced in the previous financial year. Full year earnings growth will be impacted to a lesser extent.
17-Jan-2014
(Official Notice)
Shareholders of Distell are advised that at the general meeting of Distell shareholders held at the Auditorium of The House of J.C. Le Roux, Devon Valley Road, Devon Valley, Stellenbosch, Western Cape on Friday, 17 January 2014, the necessary resolutions to amend the terms of the Put Option, to give effect to the proposed restructuring of the Original BEE Transaction and to amend the terms of the WIP Beverages Preference Shares, as detailed in the circular posted to Distell shareholders dated 17 December 2013, were passed by the requisite majority shareholders.
06-Dec-2013
(Official Notice)
17-Oct-2013
(Media Comment)
According to Business Report, Distell is aiming to become the world's largest cider producer by 2018. In 2013, Distell is the world's second-largest producer of ciders. Distell, Savannah and Hunter's brands, produces about 15% less volume than Heineken, which is the largest maker of the drink. Distell chairman, David Nurek, said that although the big cider markets were in Europe, management believed there was huge potential in developing nations.
16-Oct-2013
(Official Notice)
At the twenty fifth (25th) annual general meeting of the shareholders of Distell held today, 16 October 2013, all the ordinary and special resolutions proposed at the meeting were approved by the requisite majority of votes.
13-Sep-2013
(Official Notice)
With regard to the audited results for the year ended 30 June 2013, shareholders were advised that the annual financial statements will be distributed to shareholders on 13 September 2013 and contain no modifications to the audited results which were published on SENS on 21 August 2013.



Notice of the annual general meeting

Notice was given that the 25th annual general meeting of Distell shareholders will be held at 12:45 on Wednesday, 16 October 2013 in the auditorium of The House of J.C. Le Roux, Devon Valley Road, Devon Valley, Stellenbosch, Western Cape to transact the business as stated in the annual general meeting notice forming part of the annual financial statements.



Salient dates

The notice of the company's annual general meeting has been sent to its shareholders who were recorded as such in the company's securities register on Friday 6 September 2013 being the notice record date used to determine which shareholders are entitled to receive notice of the annual general meeting.



The record date on which shareholders of the company must be registered as such in the company's securities register in order to attend and vote at the annual general meeting is Friday, 11 October 2013 being the voting record date used to determine which shareholders are entitled to attend and vote at the annual general meeting. The last day to trade in order to be entitled to vote at the annual general meeting will therefore be Friday, 4 October 2013. Proxy forms must be lodged by no later than 12:30 on Monday, 14 October 2013. Any forms of proxy not lodged by this time must be handed to the chairperson of the annual general meeting immediately prior to the annual general meeting.
26-Aug-2013
(Official Notice)
F C Bayly has notified the board of his decision to retire as non-executive director of Distell at the end of the annual general meeting on 16 October 2013.
21-Aug-2013
(C)
Revenue rose 11.9% to R15.9 billion (R14.2 billion). Operating profit increased by 26.6% to R1.8 billion (R1.4 billion). Net attributable profit was up 13.2% to R1.1 billion (R969.1 million). In addition, headline earnings per share grew by 11.7% to 535.7cps (479.7cps).



Dividend

The directors have resolved to declare a gross cash dividend of 183cps for the year ended 30 June 2013.



Prospects

Distell believe challenging trading conditions will persist in the year ahead. However, the strength, appeal and diversity of our brands, our enhanced capacity to trade across a spectrum of markets and the security of our financial position will allow us to continue pursuing our strategic course.



29-Jul-2013
(Official Notice)
J J Scannell has notified the board of his decision to retire as managing director of Distell with effect from 31 December 2013. As a result, R M Rushton has been appointed as executive director to the board, with effect from 1 November 2013 with the intention that he take over the managing director function.
17-May-2013
(Official Notice)
Shareholders are referred to the announcement released on the SENS at 14h35 today, relating to dealings in securities by a director of a major subsidiary, and are advised that the announcement should be regarded as retracted by the company and replaced with the announcement released on SENS at 15h43.

15-Apr-2013
(Official Notice)
As all the relevant information relating to the acquisition of Burn Stewart Ltd. is contained in the announcement of 15 April 2013, caution is no longer required to be exercised by shareholders when dealing in their Distell shares.
15-Apr-2013
(Official Notice)
09-Apr-2013
(Official Notice)
Further to the cautionary dated 15 February 2013 shareholders are advised that negotiations are still in progress which, if successfully concluded, may have a material effect on the price of the company's securities. Accordingly, shareholders are advised to exercise caution when dealing in the company's securities until a full announcement is made.
08-Apr-2013
(Media Comment)
Business Report reported that the Kenyan government anticipates selling a large part of its shareholding in a domestic wines and spirits marketer to South Africa's Distell. The privatisation commission disclosed that Distell would acquire 26 percent of Kenya Wine Agencies Ltd. for an unrevealed amount. Together with the sale, Distell will conclude a long-term supply agreement with KWAL for the latter to have the sole rights to sell Distell products in Kenya.
26-Feb-2013
(Official Notice)
L C Verwey has been appointed as a non-executive director to the board of Distell Group Ltd, with effect from 1 March 2013.

25-Feb-2013
(C)
Revenue increased by 9.3% to R8.7 billion (2011: R8 billion). Operating profit rose by 5.3% to R1.2 billion (2011: R1.2 billion, profit for the period attributable to equity holders of the company jumped by 12.0% to R877.5 million (2011: R776.9 million). Furthermore, headline earnings per share climbed y 12.6% to 433cps (2011: 384.6cps).



Cash dividend declaration

The directors have resolved to declare a gross cash dividend number 49 of 152cps (2011: 143cps) for the interim period ended 31 December 2012.



Prospects

The prevailing macro-economic volatility makes it difficult to predict consumer spending trends in the markets where Distell trades. The group is not expecting significant changes in the current conditions, as disposable income remains under severe pressure, both domestically and internationally. Distell remains confident in the versatility and quality of the company's portfolio and the pricing of the products. Distell's underlying financial position remains strong and they continue to invest in brands, plant and other infrastructure to compete effectively and to maximise trading opportunities.
15-Feb-2013
(Official Notice)
Shareholders are advised that the company has entered into negotiations regarding an acquisition, which, if successfully concluded, may have a material effect on the price of the company's securities. Accordingly, shareholders are advised to exercise caution when dealing in the company's securities until a full announcement is made.
17-Oct-2012
(Official Notice)
At the twenty fourth (24th) annual general meeting of the shareholders of Distell held today, 17 October 2012, all the ordinary and special resolutions proposed at the meeting were approved by the requisite majority of votes. The special resolutions will be lodged for registration with the Companies and Intellectual Property Commission in due course.

18-Sep-2012
(Official Notice)
Shareholders were advised that the annual financial statements have been distributed to shareholders on 17 September 2012 and contain no modifications to the audited results which were published on SENS on 22 August 2012.



Notice of the annual general meeting

Notice is hereby given that the 24th annual general meeting of Distell shareholders will be held at 12:30 on Wednesday 17 October 2012 at the Visitors' Centre of Durbanville Hills Wine Cellar, Durbanville Road (M13), Durbanville, Western Cape, to transact the business as stated in the annual general meeting notice forming part of the annual financial statements.



Salient dates

The notice of the company's annual general meeting has been sent to its shareholders who were recorded as such in the company's securities register on Friday, 7 September 2012 being the notice record date used to determine which shareholders are entitled to receive notice of the annual general meeting.



The record date on which shareholders of the company must be registered as such in the company's securities register in order to attend and vote at the annual general meeting is Friday, 12 October 2012 being the voting record date used to determine which shareholders are entitled to attend and vote at the annual general meeting. The last day to trade in order to be entitled to vote at the annual general meeting will therefore be Friday, 5 October 2012. Proxy forms must be lodged by no later than 12:30 on Monday, 15 October 2012. Any forms of proxy not lodged by this time must be handed to the chairperson of the annual general meeting immediately prior to the annual general meeting.
22-Aug-2012
(C)
Revenue rose 15% to R14.2 billion (R12.3 billion). Operating profit declined by 1.7% to R1.41 billion (R1.44 billion). Net attributable profit was up 0.9% to R969.1 million (R960.7 million). In addition, headline earnings grew 0.6% to 479.7c (476.8cps).



Dividend

A final gross ordinary dividend of 152cps has been declared.



Outlook

Continued uncertainty about the global macro-economic environment makes it difficult to predict trends in consumer demand. However, we do believe challenging trading conditions will persist in the year ahead, with unemployment and limited disposable income likely to continue to curtail consumer spending, both domestically and internationally.



The underlying financial position remains strong. Distell is confident that the business is appropriately structured with a diversified and attractive range of high quality and well-priced brands that equip us to compete effectively and to continue to maximise trading opportunities.
22-Jun-2012
(Official Notice)
Distell announced the appointment of Mr J J Durand as a non- executive director to the board of Distell, with effect from 1 July 2012.
30-Apr-2012
(Official Notice)
Shareholders are advised that Mr M H Visser, non-executive director of the board of Distell, passed away following a car accident on 26 April 2012.
26-Apr-2012
(Official Notice)
Mr P M Bester will retire as independent, non-executive director from the board of Distell, with effect from 30 June 2012.
15-Feb-2012
(C)
Revenue for the interim period increased by 15.9% to R8 billion (2010: R6.9 billion). Operating profit jumped by 22.4% to R1.2 billion (2010: R948.2 million), while profit attributable to equity holders of the company grew to 23.2% to R776.9 million (2010: R630.7 million). Furthermore, headline earnings per share rose by 23% to 384.6cps (2010: 312.8cps).



Cash dividend declaration

The directors have resolved to declare cash dividend number 47 of 143cps (2010: 124cps) for the interim period ended 31 December 2011.



Prospects

Distell believes challenging trading conditions, both domestically and internationally, will continue in the short term, with unemployment and limited disposable income still adversely impacting household consumption expenditure. Foreign currency volatility could also impact revenue and earnings. However, Distell is well positioned to take advantage of any improvement in economic conditions, thanks to the flexibility flowing from our diversity of product offerings, price points and trading destinations.
23-Jan-2012
(Official Notice)
Distell is currently finalising its results for the six months ended 31 December 2011, which should be released on or about 15 February 2012. In this regard, shareholders are advised that earnings per share and headline earnings per share are likely to be between 20% and 25% higher than the corresponding reporting period of the previous year. This is largely attributable to an improvement in operating profit, mainly as a result of increased sales volumes and the favourable impact of a weaker rand against all major currencies.
27-Oct-2011
(Media Comment)
According to The Financial Mail, minority shareholders are worried that a large competitor such as SABMiller plc ("SABMiller") remains the second largest shareholder in Distell, with 29.1%. Some shareholders would like to know why there have been no efforts to place SABMiller's Distell stake with investors. Remgro Ltd, which is the biggest shareholder in Distell has pre-emptive rights over SABMiller's shareholding and CEO Thys Visser commented that Remgro has "been led up the garden path many times by advisers claiming to have a mandate for selling SABMiller's shares ... but until SABMiller decides it does not want to hold its Distell shares there is nothing we can do." A further complicating matter to pre-emptive rights over shares is the argument that a change of control might trigger challenges to various valuable trademark agreements.
19-Oct-2011
(Official Notice)
At the twenty third (23nd) annual general meeting of the shareholders of Distell held 19 October 2011, all the ordinary and special resolutions proposed at the meeting were approved by the requisite majority of votes.
19-Sep-2011
(Official Notice)
Shareholders were advised that the annual financial statements will be distributed to shareholders on 19 September 2011 and contain no modifications to the audited results which were published on SENS on 24 August 2011.



Notice of the annual general meeting

Notice was given that the 23rd annual general meeting of Distell shareholders will be held at 12:30 on Wednesday, 19 October 2011 at the Visitors' Centre of Nederburg Wine Farm, Sonstraal Road, Daljosafat, Paarl, Western Cape to transact the business as stated in the annual general meeting notice forming part of the annual financial statements.
24-Aug-2011
(C)
20-May-2011
(Media Comment)
According to Business Day, Distell rose more than 2% to close at R72.00 on Thursday, 20 May 2011, after announcing a Chinese distribution deal. Guangzhou SA Valley Wine will sell Distell's Cape Legends' wines, among them Alto and Jacobsdal, in China.
21-Apr-2011
(Official Notice)
Distell announced the appointment of Mr Chris A Otto as a non-executive director to the board of Distell, with effect from 1 June 2011.
11-Mar-2011
(Media Comment)
Business Report noted that with the stronger rand hitting South African wine exports, Distell was now turning its attention to British pub chains, restaurants and independent off-licences (bottle stores). The move has had positive results, leading to a resulting rise in Distell's exports. The company has signed an agreement with a leading distributor, Matthew Clark, which is already in discussions with several pub chains about brands in a large variety of price levels.
16-Feb-2011
(C)
Operating results

Revenue for the interim period increased by 3.6% to R6.9 billion (2009: R6.6 billion). Domestic sales volumes increased by 3.2% and revenue by 6.2%. Cider and RTD brands continued their strong performance, whereas spend across the company's spirits portfolio, declined. The wine portfolio also showed a marginal volume decline.



International sales volumes, including Africa, increased by 1.6% to reflect a more favourable sales mix. A stronger rand against all major currencies resulted in a marginal decline in revenue from international markets. Africa continued to deliver strong growth. Benefits from improved throughput and better operating efficiencies were negated by adverse exchange rates and operating profit decreased marginally to R948 million (2009: R949 million). Income attributable to equity holders of the company rose by 1.3% to R631 million (2009: R623 million). Furthermore, headline earnings per ordinary share increased to 312.8cps (2009: 310.1cps).



Cash dividend declaration

The directors have resolved to declare an interim cash dividend number 45 of 124cps (2009: 124cps) for the period ended 31 December 2010.



Prospects

Although there are indications of a global economic recovery, lingering vulnerabilities persist in some quarters. Moreover, widespread unemployment and limited disposable income are likely to continue to impact adversely on consumer spending. The trading environment is expected to stay extremely competitive, both domestically and internationally. Distell remains confident in the inherent strength and continued relevance of its diverse and well-balanced portfolio. Its brands are very well accepted and are perceived as offering good value. In addition, the portfolio is backed by excellent quality credentials, strong service levels and well-established routes to market, enabling the group to compete effectively, while maximising trading opportunities and profitability.
26-Oct-2010
(Official Notice)
Shareholders are referred to the announcement released on SENS on 26 October 2010, and are advised that the trades were effected on the market.
20-Oct-2010
(Official Notice)
At the twenty second annual general meeting of the shareholders of Distell held on 20 October 2010, all the ordinary resolutions proposed at the meeting were approved by the requisite majority of votes.
28-Sep-2010
(Official Notice)
Shareholders are advised that the annual financial statements have been distributed to shareholders on 28 September 2010 and contain no modifications to the audited results which were published on SENS on 25 August 2010.



Notice of the annual general meeting

Notice was given that the 22nd annual general meeting of Distell shareholders will be held at the Visitors' Centre of Van Ryn's Brandy Distillery, Van Ryn Road, off Baden Powell Drive (R310), Vlottenburg, Western Cape on Wednesday 20 October 2010 at 12:30 to transact the business as stated in the annual general meeting notice forming part of the annual financial statements.
26-Aug-2010
(Media Comment)
Business Day reported that Distell, the Stellenbosch based producer of Nederburg wine, Van Ryn's brandy and Hunter's cider, is looking to expand production capacity outside SA to meet a growing African market. With limited scope for growth in Distell's local market, which accounts for three quarters of sales, it is looking to meet growing regional demand, such as for brandy in East Africa. MD Jan Scannell said that the strongest growth is in sub- Saharan Africa. Scanell further added that Distell was looking for opportunities to establish in-market production capacity aimed at consumers in that market. Distell is competing with foreign companies such as Diageo of UK to take spirits to Africa's increasingly affluent consumers. Mr Scanell added that Distell expects the market to remain competitive and under pressure in the year going forward.
25-Aug-2010
(C)
Operating Performance

Revenue rose by 8.7% to R11.8 billion (R10.9 billion) on a sales volume increase of 7.3%. Domestic sales volumes increased by 4.6% and revenue by 9.2%. In an extremely challenging trading environment, with consumers seeking lower- priced options, Distell succeeded in maintaining its share of consumer spend in most key categories. Cider and RTD (ready-to-drink) brands continued their strong performance whereas spend across the company's spirits portfolio showed a marginal drop. Distell's value share of wines showed some decline, mostly in the mid- to lower-priced ranges. International sales volumes, including Africa, increased 15.8%. Spirit volumes showed encouraging growth. Since the acquisition of the Bisquit cognac business last year, it has becomes fully operational with its performance in established markets exceeding expectations. Ciders and the RTD's continued their upward trajectory, although off a smaller base. Growth in wine exports was significant and far outpaced that of the industry. However, a stronger rand against all major currencies limited international revenue growth to 15.2%. Operating profit decreased by 1.2% to R1.39 billion (R1.41 billion). Net attributable profit was down 1.3%, to R941.6 million (R953.7 million). In addition, headline earnings per share declined by a marginal 1.2% to 469.1cps (474.8cps).



Dividend

The directors have resolved to maintain the total dividend of 256 cents for the year.



Prospects

Although there were some early signs of a global economic recovery in the latter part of the financial year under review, the high levels of unemployment and limited disposable income are likely to continue to impact adversely on consumer spending. The trading environment is expected to remain extremely competitive, both domestically and internationally. However, Distell's business is appropriately structured with a diversified and exciting range of well-priced, quality brands in spirits, ciders and RTDs and wines, to enable the group to compete effectively and to continue to maximise trading opportunities and profitability.
27-May-2010
(Official Notice)
Mr S J Genade has given notice that he will retire as executive director, with effect from 31 August 2010.
17-Feb-2010
(C)
Operating performance

Revenue increased 9.3% to R6.6 billion. Domestic sales volumes increased 5.8% and revenue by 10.2%. In an extremely challenging trading environment, with consumers seeking lower-priced options, Distell succeeded in maintaining its share of consumer spend. International sales volumes, including Africa, increased 13.8%. A stronger rand against all major currencies limited international revenue growth to 12.0%.



Operating profit increased to R949.1 million (2008:R931.9 million). The impact of the stronger rand on the revenue line and a less profitable sales mix contributed to the net operating margin declining to 14.3% (2008: 15.3%). Net financing costs increased from R9.0 million to R44.9 million. Profit attributable to ordinary shareholders decreased to R622.8 million (R635.9 million). Headline earnings per share decreased to 310.10cps (316.60cps).



Dividends per share

An interim dividend of 124 cps was declared for the period under review, maintaining the dividend of the previous year.



Prospects

The protracted global economic crisis had an adverse impact on consumer spending, domestically and internationally. Although there have been some signs of a recovery, the persistent uncertainty makes it difficult to predict either the timing or the extent of any upturn, particularly given the present high levels of consumer debt and unemployment. Distell is well positioned to weather the recession and to take early advantage of any improvements in the economic conditions of the markets in which it operates, given the company's versatile portfolio of strong, appealing and diverse brands, its capacity to trade across a spectrum of markets at a range of price points and the security of its financial position.
21-Oct-2009
(Official Notice)
At the annual general meeting of the shareholders of Distell held on 21 October 2009, all the ordinary resolutions proposed at the meeting were approved by the requisite majority of votes.
30-Sep-2009
(Official Notice)
With regard to the audited results for the year ended 30 June 2009, shareholders are advised that the annual financial statements have been distributed to shareholders on 29 September 2009 and contain no modifications to the audited results which were published on SENS on 26 August 2009.



Notice of the annual general meeting

Notice was also given that the twenty first annual general meeting of Distell shareholders will be held at the Visitors Centre of Durbanville Hills Wine Cellar, Durbanville Road (M13), Durbanville, Western Cape on Wednesday, 21 October 2009, at 12:30 to transact the business as stated in the annual general meeting notice forming part of the annual financial statements.
26-Aug-2009
(C)
Revenue rose by 15.5% to R10.9 billion (R9.4 billion). Domestic sales volumes increased by 6.4% and revenue by 11.2%. Cider brands continued their impressive performance and wine volumes grew marginally. Spirits volumes dropped in line with the market. International sales volumes, including Africa, increased 26.7% and revenue by 36.9%. Strong sales performance during the first six months was followed by significant slower growth over the remaining period. Operating profit increased by 4.8% to R1.4 billion (R1.3 billion). Benefits from improved throughput and efficiencies were negated by steep increases in costs. This was compounded by adverse exchange rates with currency translation losses of R46.6m at year-end (2008: R57.3m gain). Net attributable profit was up 0.2%, to R954.4 million (R952.5 million). In addition, headline earnings on a per share basis grew by a marginal 0.9% to 475.2cps (471.0cps).



Dividend

A final ordinary dividend of 132cps has been declared, maintaining the final dividend of the previous year. It is the board's intention to restore the dividend cover to 2.0 times by headlines earnings over time.



Outlook

South Africa has not escaped the impact of the global economic crisis. This became clearly evident particularly over the second half of the reporting period. Although there have been early signs of a recovery, the persistent uncertainty in world markets makes it difficult to predict either the timing or the extent of the upturn. However, Distell's strong portfolio of appealing and diverse brands, coupled to the company's capacity to trade across a spectrum of markets and the security of Distell's financial position mean that the group is well positioned to continue to pursue its strategic course.
10-Jun-2009
(Media Comment)
Business Day reported that Distell has announced plans to improve wine farming in Tanzania to ensure a financially sound investment, especially for Tanzania Distilleries, the company's joint venture partner, in which it has a 35% stake. The two companies will train Tanzanian farmers in viticulture and low-tech vineyard management in a bid to improve the quality and yield of the country's vineyards.
07-Apr-2009
(Media Comment)
Distell expects a good harvest despite a delayed and shortened harvesting period. Business Report quoted the head of the grape and wine buying team of Distell, Erhard Wolf, as saying that the quality of 2009's harvest is "outstanding, despite a picking season that was shorter than average, placing enormous pressure on harvesters and cellar resources".
13-Mar-2009
(Media Comment)
Business Day noted that Distell has launched its flagship cream liqueur, Amarula, in two of India's most populous and affluent states. One of the states is Maharashtra, who's capital is India's financial centre, Mumbai.
18-Feb-2009
(C)
Revenue grew 21.6% to R6.1 billion on a sales volume increase of 15.9%. Domestic sales volumes increased by 10.7% and revenue by 14.8%. Cash generated from operating activities amounted to R954.5 million (R571.9 million). Headline earnings grew 19.9% to R650.2 million and headline earnings per share improved by 19.3%.



Dividend

The directors have resolved to declare cash of 124cps for the period ended 31 December 2008.



Prospects

South Africa's economy and its consumers continue to adjust to the unfavourable impact of a highly troubled global economy, the increase in debt-servicing costs, and a moderation in real disposable income. The deterioration in the global economy is expected to continue with major economies now in recession. An early end to the depressed conditions seems unlikely. Distell therefore anticipates that global and local trading conditions will become increasingly difficult. Nevertheless, the board believes the business is appropriately structured to compete effectively under these conditions. It has a portfolio of exceptional brands with strong consumer franchise across a range of segments and price points affording it the flexibility to adjust to changes in consumer spending and to capture opportunities in key established and newer markets. A broad network of trading alliances across a diversity of markets, some less adversely affected by the global credit crunch than others, should also provide the group with a measure of resilience. It is extremely difficult to forecast under current volatile conditions. Distell nevertheless expects to reflect lower growth in revenue and earnings for the financial year.
18-Feb-2009
(Official Notice)
*Distell was able to raise revenue by 21.6% to R6.1 billion on a sales volume increase of 15.9%, for the six months to December 31, 2008.

*Headline earnings grew 19.9% to R650.2m, while HEPS improved by 19.3%.

*A dividend of 124c has been declared, an increase of 19.2 % on the previous year's interim payment of 104c.

*Trading income rose by 21.3%, largely to continued revenue growth.

*Net operating margin remained virtually unchanged at 15.7%.
31-Oct-2008
(Official Notice)
Distell is pleased to announce the appointment of Ms Catharina Sevillano-Barredo as a non-executive director to the board of Distell, with effect from 1 November 2008.
29-Oct-2008
(Media Comment)
According to Business Report, Distell has now targeted eastern Europe through an agreement with a Polish distributor to represent the group's bestselling liqueur, Aramula Cream and wine brands. International director, Donald Gallow, said that it is now more important than ever that the group continues to expand its geographic footprint to mitigate risk.
22-Oct-2008
(Official Notice)
At the twentieth annual general meeting of the shareholders of Distell held on 22 October 2008, all the ordinary resolutions proposed at the meeting were approved by the requisite majority of votes.
29-Sep-2008
(Official Notice)
With regard to the audited results for the year ended 30 June 2008, shareholders are advised that the annual financial statements have been distributed to shareholders on 29 September 2008 and contain no modifications to the audited results which were published on SENS on 20 August 2008.



Notice of the annual general meeting

Notice was given that the twentieth annual general meeting of Distell shareholders will be held at the Visitors Centre of Durbanville Hills Wine Cellar, Durbanville Road (M13), Durbanville, Western Cape on Wednesday, 22 October 2008 at 12:00 to transact the business as stated in the annual general meeting notice forming part of the annual financial statements.
20-Aug-2008
(C)
Revenue grew 14.7% to R9.4 billion on a sales volume increase of 6.9%. Domestically, sales volumes increased 4.0%. Cider brands and RTDs (ready-to-drinks) continued their strong performances, with sales volumes growing 6.7%. Headline earnings grew 20.9% to R941.9 million and headline earnings per share improved by 20.3%. However, earnings per share, including net other gains, grew 11.8%. Cash generated from trading activities amounted to R1.46 billion (2007: R1.23 billion). Net asset value per share was reported at 2 221c (2007: 1 973c).



Dividends

The directors have resolved to declare cash dividend number 40 of 132 cents (2007: 109 cents) per share for the year ended 30 June 2008.



Prospects

The global economy has entered a period of slower growth, despite the still robust growth occurring in major emerging markets. The South African economy has followed international trends and the deterioration in the domestic market is being reflected in slower growth in real domestic expenditure and consumer spending. The trading environment is expected to remain competitive locally as well as further afield and the alcoholic beverage industry will continue to face challenges globally. However, the board believes the business is appropriately structured, with a portfolio of compelling brands across a range of segments and price points to allow it to compete effectively and to continue to capture opportunities in key markets. Distell expects to show continued growth in revenue and earnings, albeit at more modest levels.
14-Aug-2008
(Official Notice)
Distell is currently finalising its results for the twelve months ended 30 June 2008, which should be released on SENS on or about 20 August 2008. In this regard, shareholders are advised that basic earnings per share will be approximately 12% higher and headline earnings per share will be approximately 20% higher than that reported in the corresponding reporting period of the previous year. This is largely attributable to an improvement in trading income for the year to 30 June 2008.
20-Jun-2008
(Official Notice)
Distell is pleased to announce the appointments of Messrs A C Parker and B J Van der Ross as non-executive directors to the board of distell, with effect from 1 July 2008. Distell regrets to announce that Mr R L Lumb has resigned as a non-executive director from the board of distell, with effect from 23 October 2008.
13-Feb-2008
(C)
For the six months to 31 December 2007, the company delivered a 12.9% increase in revenue to R4.8 billion on a sales volume growth of 7.6%. Domestically, sales volumes increased 5.4% with cider brands and RTDs growing an impressive 10.6%, despite production constraints from a national shortage of packaging materials and carbon dioxide. International sales volumes excluding Africa, increased 17.7% and international revenue, grew 20.7%. Revenue from African countries grew 23.8%. Headline earnings rose 17.9% to R542.3 million, while headline earning per share increased 17.4% to 271.6cps (2006: 231.4cps).



Dividends

A dividend of 104 cents per share has been declared, an increase of 19.5% on the previous year?s interim payment of 87 cents per share.



Prospects

While South Africa?s economic fundamentals are sound, recent developments point to slower economic growth in the short term. Higher fuel and food prices, increased debt servicing costs and a moderation in real disposable income could have an adverse impact on consumer spending in the short term. Nevertheless, the board is expecting growth in consumer demand to continue, albeit at a slower pace. The erratic supply of electricity has a disruptive impact on business, and impacts on Distell ability to meet consumer demand.
06-Feb-2008
(Official Notice)
Mr P E I Swartz has resigned as a non-executive director from the board of Distell Group Limited, with effect from 5 February 2008.
10-Jan-2008
(Media Comment)
Business Day reported that Distell has strengthened its ties with AV Brands, a US wine and spirits importer, in an effort to boost the presence of its brands in North America. International director Don Gallow said that AV Brands had the potential to grow Distell's brands across the US, as it was one of the top distributors in terms of turnover there. AV Brands already represents the company's wine brands, but will now carry Amarula, Cream Liqueur and Durbanville Hills as well.
17-Oct-2007
(Official Notice)
At the nineteenth annual general meeting of the shareholders of Distell held on 17 October 2007, the requisite majority of shareholders approved all the ordinary resolutions at the meeting.
21-Sep-2007
(Official Notice)
With regard to the audited results for the year ended 30 June 2007, the annual financial statements will be distributed to shareholders on or about 21 September 2007 and contain no modifications to the audited results which were published on SENS on 22 August 2007.



The annual general meeting will be held at the Visitors` Centre of Van Ryn`s Brandy Distillery, Van Ryn Road, off Baden Powell Drive (R310), Vlottenburg, Western Cape on Wednesday, 17 October 2007 at 12:00.
20-Sep-2007
(Official Notice)
Prof G J Gerwel has resigned as non-executive director from the board of Distell with effect from 17 September 2007.
22-Aug-2007
(C)
Revenue grew 18.4% to R8.0 billion (2006: 6.7bn) on a sales volume increase of 14.4%. Locally, sales volumes increased 15.6%, with brands in the RTD category continuing their exceptional performance. International sales volumes, excluding Africa, increased 7.2% and international revenue, benefiting from a favourable exchange rate and good sales mix, increased 32.0%. Revenue from African countries grew 20.0%. The group generated net cash flow of R244.6 million before financing activities, which resulted in net financing income of R8.0 million, compared to net financing costs of R27.4 million the previous year. Headline earnings, excluding the BEE expense of the previous year, reflect a 29.2% increase to R779.3 million (2006: R535.9m).



Prospects

The trading environment will remain competitive, with increased marketing investment by most industry players. Distell expect to continue to deliver growth in earnings.
20-Jul-2007
(Official Notice)
Distell is currently finalising its results for the twelve months ended 30 June 2007, which should be released on or about 22 August 2007. Basic earnings per share will be between 55% and 65% higher and headline earnings per share will be between 40% and 50% higher than the corresponding reporting period of the previous year. Adjusted headline earnings per share, which is headline earnings excluding the non-recurring BEE share-based payment incurred during the previous financial year, will be between 25% and 35% higher than the corresponding period of the previous year. This is largely attributable to an improvement in trading income and reduced financing costs.
20-Mar-2007
(Media Comment)
Distell said that its 2007 grape harvest would decrease this year on farms in Stellenbosch, Paarl and Malmesbury. Business Day quoted the company as saying that the harvest in these areas would drop by 5%-10%. Distell's harvest was about two-thirds complete, and showed that grape harvests from the Worcester and Breede River areas would be comparable to those of 2006, whereas the Bonnievale crop would be higher.
14-Feb-2007
(C)
Distell reported results for the six months ended 31 December 2006. Salient features included:

*Basic earnings per share up 68.1%

*Headline earnings per share up 59.3%

*Headline earnings per share, excluding non-recurring BEE expense up 29.0%

*Total revenue up 16.6%

*Trading income up 30.5%

*Total sales volumes up 11.0%

Operating performance

The company is now reaping the benefits of responsible pricing and marketing and improved efficiencies. Domestic sales volumes grew 11.9%, with spirits increasing 3.7%, RTD's 25.5% and wine 4.6%. International sales volumes, excluding Africa, increased 3.3%, with Amarula, in particular, delivering exceptional growth of 33.4%. Total international revenue rose 27.5%. The increase of 30.5% in trading income was driven largely by increased revenue, benefits derived from improved throughput and ongoing initiatives to still further enhance efficiencies across the business, particularly in production. Capital expenditure, focused mainly on replacement of assets, amounted to R69.8 million.



Prospects

On the domestic front, growth in consumer spending was expected to continue, albeit at a slower pace. Growing consumer demand, together with continuing economic growth, should benefit sales. Prospects for the world economy remain favourable, although global GDP growth was expected to moderate over the short term. The effects of the oversupply in wine in both the global and domestic markets continues, placing ongoing pressure on producers. Distell expected to reflect continued growth in revenue and in adjusted headline earnings.
16-Jan-2007
(Official Notice)
Shareholders are advised that basic earnings per share and headline earnings per share will be between 55% and 65% higher than the corresponding reporting period of the previous year. Adjusted headline earnings per share, which is headline earnings excluding the non-recurring BEE share-based payment incurred during the previous financial year, will be between 20% and 30% higher than the corresponding period of the previous year.
14-Dec-2006
(Media Comment)
Distell had entered into an agreement with Altia, an international multi-beverage company situated in Finland, to supply its wine brands. According to Business Day, both the Nordic and Baltic regions of Europe reflect robust demand for South African wines. Don Gallow, Distell's director of international operations said that Altia's logistics infrastructure and distribution network would make it possible to service these export markets with greater efficiency.
19-Oct-2006
(Official Notice)
At the 18th annual general meeting of the shareholders of Distell held on 18 October 2006, the requisite majority of shareholders approved all the ordinary resolutions and the special resolution proposed at the meeting.
26-Sep-2006
(Official Notice)
With regard to the audited results for the year ended 30 June 2006, shareholders are advised that the annual financial statements have been distributed to shareholders on 26 September 2006 and contain no modifications to the audited results which were published on SENS on 29 August 2006.



Notice of the annual general meeting

Notice is hereby given that the eighteenth annual general meeting of Distell shareholders will be held at the Visitors Centre of Durbanville Hills Wine Cellar, Durbanville Road (M13), Durbanville, Western Cape on Wednesday, 18 October 2006 at 12:00.
29-Aug-2006
(C)
22-Jun-2006
(Official Notice)
D Prins has resigned as non-executive director from the board of Distell Group with effect from 18 October 2006 and R L Lumb has been appointed as a non-executive director to the board of Distell Group, with effect from 19 October 2006.
21-Feb-2006
(C)
Revenue, on a restated basis, grew 11.2% to R3.7 billion on a sales volume increase of 5.9%. Distell's sales volumes in the domestic market grew 4.8% and international sales volumes, excluding Africa, increased 22.0%. Net financing costs declined by R13.3 million to R21.5 million, mainly as a result of a substantial improvement in cash flow. Profit attributable to shareholders, excluding the mainly once-off cost of the BEE deal of R74.1 million, increased by 21% to R361 million. Headline earnings, including the cost of the BEE deal declined by 4.2%.



Prospects

On the domestic front, growth in consumer spending is expected to continue, while interest rates remain at their current levels, impacting positively on the demand for alcoholic beverages. Internationally, the economic outlook remains relatively optimistic. However, the global oversupply in wine continues, placing ongoing pressure on producers participating in the major markets. Fortunately, the group's enhanced distribution network, wide geographic reach and solid trademarks strengthen its ability to optimise opportunities in a difficult trading environment. The group expects to continue to reflect growth in earnings.
05-Dec-2005
(Official Notice)
Distell has created an opportunity for workers on its 985-hectare Plaisir de Merle farm at Simondium to earn additional income in their spare time by becoming involved in a broad-based trout farming venture.



Through Distell's negotiations, Plaisir de Merle is embarking on a pilot project, involving 12 of the farm's 64 workers in the venture. Although an autonomous profit centre, the trout farming venture is connected to a larger initiative led by the Hands on Fish Farmers Co-operative that will provide a smoking service and also market all the fish, fresh and smoked, to retailers and restaurants, on behalf of its members



The co-operative is being run in association with the University of Stellenbosch Department of Agriculture and Forestry Sciences, with funding supplied by the national Department of Science and Technology.



The first fingerlings will be introduced to one dam on Plaisir de Merle in next May, with the trout harvested in November 2006. According to farm manager Freddie le Roux, in its pilot phase the project is expected to yield between 6 and 8 tons of fish with an estimated turnover of R150 000, generating a profit of around R50 000.
22-Nov-2005
(Official Notice)
For the year ended 30 June 2005 Distell prepared its financial statements under South African Statements of Generally Accepted Accounting Practice, effective at that date. In accordance with the JSE Listings Requirements, all listed companies are required to adopt International Financial Reporting Standards for years commencing on or after 1 January 2005. Distell is therefore required to prepare its consolidated financial statements in accordance with IFRS for the year ending 30 June 2006. As the group publishes comparative information for one year in its financial statements, the date for transition to IFRS is 1 July 2004, which represents the start of the earliest period of comparative information presented. Distell will also publish its interim results for the six months ended 31 December 2005 under IFRS. First-time Adoption of International Financial Reporting Standards ("IFRS 1") sets out the guidelines for entities to follow in its first set of IFRS financial statements. Distell has used these guidelines to restate its financial information previously published under SA GAAP to the equivalent basis under IFRS. It is important to note that this financial information has been prepared in accordance with IFRS statements that are expected to be effective as at 30 June 2006. These are subject to ongoing review and possible amendment by interpretation guidance from the International Accounting Standards Board ("IASB") and may therefore change. The net effect of the restatement of financial results, as reported under SA GAAP, for the year to 30 June 2005 to comply with IFRS will result in about a 1% increase in the attributable and headline earnings for that year. The information contained in this announcement has not been audited by the group's auditors. The group will prepare its interim results for the six months to 31 December 2005 under IFRS and the full impact of IFRS adjustments on the financial results, as previously reported under SA GAAP, will be disclosed in Distell's interim report that will be published on 21 February 2006.
13-Oct-2005
(Official Notice)
At the annual general meeting of Distell held on 12 October 2005, the requisite majority of shareholders approved all the ordinary resolutions proposed at the meeting.
12-Oct-2005
(Official Notice)
Shareholders are advised that at the general meeting the necessary resolutions to give effect to the proposed black economic empowerment transaction were passed by the requisite majority of shareholders. Distell shareholders are advised that all the conditions precedent to the proposed BEE transaction have been met, and accordingly the proposed BEE transaction is unconditional. Louisa Mojela and Gugulethu Mthethwa have been appointed as non-executive directors to the Distell board with effect from 13 October 2005.



21-Sep-2005
(Official Notice)
20-Sep-2005
(Official Notice)
With regard to the audited results for the year ended 30 June 2005, shareholders are advised that the annual financial statements have been distributed to shareholders on 20 September 2005 and contain no modifications to the audited results which were published on SENS on 17 August 2005.



Notice of the annual general meeting

Notice is hereby given that the seventeenth annual general meeting of shareholders of Distell will be held at the Visitors Centre of Durbanville Hills Wine Cellar, Durbanville Road (M13), Durbanville, Western Cape on Wednesday, 12 October 2005 at 12:00 to transact the business as stated in the notice of annual general meeting forming part of the annual financial statements.
17-Aug-2005
(C)
Comparative figures for the year ended 30 June 2004 for sales volumes have been restated to exclude contract packaging litres done on behalf of unrelated third parties and sales revenue has been restated by deducting discounts and rebates previously included in operating expenses. Sales revenue, on a restated basis, grew 7.0% to R6.0 billion (R5.6 billion) on a sales volume increase of 1.8%. The increase of 19.8% in trading income of R713 million (R595 million) was driven largely by increased sales revenue and the continued improvement in the domestic sales mix. Operating margins improved from 10.7% to 12.0%, despite the effect of the appreciation of the rand. Net financing costs declined by R42.5 million to R52.3 million, mainly as a result of a substantial improvement in cash flow and a reduction in interest rates. During the year under review, exchange rates were less volatile and no foreign currency losses arose as a result (2004: R24,9 million). Consequently, headline earnings reflected an increase to 245.8cps (183.3cps) and earnings rose to 245.8cps (184.3cps). A dividend of 67cps (51cps) was declared for the period.



Prospects

Favourable economic conditions in South Africa, with lower inflation and interest rates likely to lead to an increase in disposable income, are expected to continue in the year ahead. In addition, the global economic outlook remains positive. The group expects the trading environment to remain competitive, compounded by a worldwide overproduction of wine, which in turn will lead to increased marketing investment by industry players. Distell`s business is appropriately structured, with a portfolio of reputable brands and an efficient cost base that will allow it to compete effectively, and to capture opportunities in domestic and foreign markets. The group expects to continue to reflect growth in earnings.
08-Aug-2005
(Official Notice)
Distell shareholders are advised that discussions, as referred to in the announcements released on SENS on 4 April, 16 May and 27 June 2005, are still underway which, if successful may have an effect on the market price at which Distell`s shares trade on the JSE. Shareholders of the company are accordingly advised to continue to exercise caution when dealing in their Distell shares until a detailed announcement is made.



27-Jul-2005
(Official Notice)
Distell is currently finalising its results for the year ended 30 June 2005, which should be released on or about 17 August 2005. In this regard, shareholders are advised that earnings per share and headline earnings per share will be between 25% and 35% higher than the corresponding reporting period of the previous year. This is largely attributable to an improvement in trading income and reduced financing costs and foreign exchange losses.
27-Jun-2005
(Official Notice)
Distell shareholders are advised that discussions, as referred to in the announcements released on SENS on 4 April 2005 and 16 May 2005, are still underway which, if successful may have an effect on the market price at which Distell`s shares trade on the JSE. Shareholders of the company are accordingly advised to continue to exercise caution when dealing in their Distell shares until a detailed announcement is made.

16-May-2005
(Official Notice)
Distell shareholders are advised that discussions, as referred to in the announcement released on SENS on 4 April 2005, are still underway which, if successful may have an effect on the market price at which Distell`s shares trade on the JSE. Shareholders of the company are accordingly advised to continue to exercise caution when dealing in their Distell shares until a detailed announcement is made.
20-Apr-2005
(Media Comment)
Distell advised that its largest brand Nederburg would increase production by 10% this year in spite of the drought experienced in the grape growing areas. This was due largely to the R70m upgrade of the Nederburg cellar in 2003, increasing the pressing capacity for red wines by 50% and that of white wines by 20%
04-Apr-2005
(Official Notice)
Distell shareholders are advised that the company has made progress with regard to the introduction of a Black Economic Empowerment partner into Distell and the company is in discussions with potential BEE partners. The proposed BEE transaction will be subject to certain regulatory and shareholder approvals and, if successfully concluded, may have an effect on the market price at which Distell`s shares trade on the JSE Securities Exchange South Africa. Shareholders of the company are accordingly advised to exercise caution when dealing in their Distell shares until a detailed announcement is made.
16-Feb-2005
(C)
Revenue grew 7.3% to R3.4bn compared to R3.18bn for the previous comparative period. In the domestic market, spirit volumes increased by 3.2%. Sales volumes of unfortified wine remained under pressure, declining 2.2% due mainly to increased competition amongst local producers who, given the strong rand, began focusing on the domestic market. International sales volumes, excluding Africa, increased by 7.2%, but international sales revenue declined by 1.6% due to the negative impact of a stronger rand. Operating expenses increased to R2.96bn (R2.79bn) and trading income rose to R448m (R392m). The groups net profit for the period was R293.7m (R221.4m). Net financing costs declined by R28.1m, mainly as a result of a substantial improvement in cash flow and a reduction in interest rates. Foreign currency losses dropped to R8.9m from R27m the previous year. Consequently, headline earnings for the period reflected an increase of 33.0% to 149.5cps (112.9cps) and earnings improved to 149.6cps (113.2cps).



Dividend

A divided of 56cps (2003: 46cps) for the period ended 31 December 2004 was declared. This dividend represents a dividend cover of 2.7 times (2003: 2.5 times) by headline earnings.



Prospects

The domestic and international markets remain extremely competitive, compounded by the strong rand and worldwide overproduction of wine. Distell expects the trading environment to be more challenging for the remainder of the financial year and the rate of growth in earnings for the full year to be lower than that of the first six months.
18-Jan-2005
(Official Notice)
Distell is currently finalising its results for the six months ended 31 December 2004, which should be released on or about 16 February 2005. In this regard, shareholders are advised that earnings per share and headline earnings per share will be between 30% and 40% higher than the corresponding reporting period of the previous year. The increase is largely attributable to an improvement in trading income and reduced financing costs and foreign exchange losses. The forecast financial information on which this trading statement is based has not been reviewed and reported on by the company`s auditors.
13-Oct-2004
(Official Notice)
At the 16th annual general meeting of the shareholders of Distell held on 13 October 2004, the requisite majority of shareholders approved all the ordinary resolutions proposed at the meeting.
20-Sep-2004
(Official Notice)
With regard to the audited results for the year ended 30 June 2004, shareholders are advised that the annual financial statements have been distributed to shareholders on 20 September 2004 and contain no modifications to the audited results which were published on SENS on 16 August 2004. The annual financial statements were audited by PricewaterhouseCoopers Inc. Their report is available for inspection at the company`s registered office.



Notice of the annual general meeting

Notice is hereby given that the sixteenth annual general meeting of shareholders of Distell will be held at the Visitors Centre of Nederburg, Sonstraal Road, Paarl on Wednesday, 13 October 2004 at 12H00 to transact the business as stated in the notice of annual general meeting forming part of the annual financial statements.
16-Aug-2004
(C)
Sales revenue for the year grew 10.7% to R5.7bn on a sales volume increase of 1.9%. Total sales volumes for the second six months of the financial year showed strong growth of 5.2% over the corresponding period of the previous year. Notwithstanding the unfavourable impact of the stronger rand on export margins, the operating margin improved from 10% to 10.4% due to enhanced efficiencies and cost containment throughout the group. Headline earnings for the period reflect an increase of 41% to R358.6m or 183.3cps (130.1cps). Net asset value increased to 1 310cps (1 208cps).



Prospects

The domestic market is likely to remain extremely competitive in the near term, but a favourable medium to longer-term outlook for the South African economy makes it likely that consumer demand for alcoholic beverages will strengthen, driven in part by lower inflation and interest rates. The group will continue to invest in key international markets to build its brands as part of a profitable growth strategy and looks forward to increased sales in an improved global economic climate. The directors are confident that Distell is well positioned to capture opportunities in domestic and foreign markets and the group expects to continue to reflect real growth in earnings.



Dividend

A final dividend of 51cps which is payable on 13 September 2004 has been declared. The last day to trade in Distell shares in order to be eligible to participate in the dividend is 03 September 2004.

02-Jul-2004
(Official Notice)
Shareholders are advised that the company is currently finalising its results for the year ended 30 June 2004, which will be released on or about 17 August 2004. Shareholders are advised that current estimates for the financial year indicate that real growth in headline earnings will be materially higher than the corresponding reporting period of the previous year. The financial information on which this trading statement is based has not been reviewed or reported on by the company`s auditors and shareholders are therefore advised to exercise caution when trading in the company`s shares until the results are published.
28-Apr-2004
(Official Notice)
Distell today (28 Apr 04) announced the appointment of Mr P M Bester and Prof G J Gerwel as independent, non executive directors with effect from 28 Apr 04.
13-Apr-2004
(Media Comment)
A R3bn-a-year liquor company has been created in which Heineken, Diageo and Namibia Breweries have equal stakes. The marketing joint venture company will rival to SABMiller, KWV and Distell. The company will market Heineken, Windhoek Lager, Becks and Guinness, as well as spirit brands such as Johnnie Walker, Baileys, Smirnoff, J-B, Gilbeys Gin and Cape Velvet. There has also been speculation that Heineken would like an early termination of SABMiller's contract to market and sell Heineken's Amstel brand. Simon Litherland, MD of Guinness UDV in South Africa, will head the new company.

18-Feb-2004
(Media Comment)
Distell announced on Tuesday, 17 Feb 04, that it plans to become a leading new world wine firm and challenge Bailey's liqueur internationally with its Amarula cream liqueur. Marketing for Amarula will be targeted in Canada, UK, Germany, US, Spain and Brazil.

16-Feb-2004
(C)
Distell reported an 8.5% growth in revenue to R3.2bn (R2.9bn). Overall sales volumes, however, remained constant. Although Distell relinquished its distribution rights to the Martell brandies at the beginning of the period, spirit volumes grew by 1%. If Martell sales are excluded, spirit volumes showed growth of 6.2%. Sales volumes of natural wines declined by 3.4%. International sales volumes, excluding Africa, increased by 19.7%. Natural wines showed strong volume growth of 23.8%. The substantial appreciation of the rand during the reporting period impacted unfavourably on international sales revenues. The unfavourable effect of the improvement in the value of the rand on margins largely negated growth in operating income, which increased by only 0.4%. Headline earnings for the period reflect an increase of 7.8% to R220.8m, which translated to HEPS of 112.9cps.



Total assets increased by 3.2% to R4.9bn. Capital expenditure amounted to R95.9m. Of this R30m was spent on expanding and upgrading the Nederburg cellar in Paarl to support the continued growth of the brand domestically and internationally. Cash generated by normal operating activities increased by 69.8% to R478.8m, mainly as a result of improved working capital management towards the end of the reporting period.



Prospects

The group is pursuing focused and clear strategies to grow drive brand contributions to improve revenue growth across product categories. The general expectation is that the domestic economy, measured in terms of household consumption expenditure, will grow by approximately 3% in the year ahead. This, together with interest rates, which are expected to remain at current levels in the year ahead, should also benefit consumer demand for alcoholic beverages. Success in the international market, key to the group's medium and long- term growth, remains a challenge and requires continued investment and a strong focus on cost competitiveness. Early indications are that the world economy is starting to recover. The group expects continued real growth in headline earnings for the full year.



Merwe Botha, the group's chief financial officer, has been appointed to the board of directors with effect from 8 Dec 03.





12-Dec-2003
(Official Notice)
The appeal by the Competition Commission against certain findings of the Competition Tribunal in the merger between Distillers Corporation (SA) Ltd and Stellenbosch Farmers Winery Group Ltd was dismissed in a judgment handed down by the Competition Appeal Court on 11 Dec 03. It was found that the Commission does not have locus standi to appeal against a merger decision of the Tribunal.
08-Dec-2003
(Official Notice)
Distell today (08 Dec 03) announced the appointment of Mr M J Botha as an executive director with effect from 8 Dec 03.
19-Sep-2003
(Official Notice)
Distell has issued its annual financial statements for the 2003 financial year to members today, 19 Sep 03 and as the information previously published in the preliminary report on 19 Aug 03 is unchanged, will not be publishing an abridged report.



The annual general meeting of shareholders will be held in the auditorium of The House of JC le Roux, Devon Valley Road, Devon Valley, Stellenbosch on 13 Oct 03 at 12:00.

01-Sep-2003
(Official Notice)
The Competition Commission gave notice today that they will be taking the Competition Tribunal's judgement on the SFW/Distiller's merger to the Competition Appeal Court.

19-Aug-2003
(C)
A subsidiary company, Western Province Cellars Group Limited, was sold with effect from 1 Jul 02. As a result, certain line items in the financial statements are not comparable.

Sales revenue increased by 5.8% to R5.19bn (R4.9bn). However, after excluding retail sales of the Western Province Cellars Group Limited, sales revenue rose by 11.5%. Operating income increased to R541m (R412.6m). Net interest paid grew 11.25% to R188.3m (R169.3m) owing to increased short-term debt financing. Headline earnings per share reflects an increase of 25.8% to 138.9cps (110.4cps)

Net asset value per share increased to 1183.69cps (1087.39cps) reflecting a slightly stronger balance sheet. The group had more stock on hand on 30 Jun 03, R2.07bn (R1.65bn) due to the long-term view of consumer demand requiring investment in bulk inventories. Cash reserves were reduced to R139.3m (R185.22m).

The major legal and regulatory challenges that faced the group have largely been resolved. The removal of uncertainty allows Distell to continue with business planning initiatives, focusing on revenue growth and performance improvement. General expectation is that the domestic economy will grow by approximately 3% in the year ahead. This, together with the decline in interest rates, should also benefit consumer demand for alcoholic beverages.

01-Jul-2003
(Media Comment)
Distell has won a court battle against UK-based liquor producer Diageo to continue producing and distributing Gordon's Dry gin in southern Africa. The case began in 2001 when Guinness UDV gave notice of its intention to terminate its 27 year old agreement with the group.
20-Jun-2003
(Official Notice)
Distell will terminate the marketing and distribution rights to Martell brandies, KWV 10 and 20 year old brandy and certain KWV fortified wines. This follows a ruling by the Competition Tribunal, which took due cognisance of a proposal submitted by Distell. Distell MD, Jan Scannell said, "Although it's not easy to give up these premium brands in which we have invested heavily and built market share in a keenly competitive market, we are relieved that the lengthy process has now been finally settled".
19-Jun-2003
(Media Comment)
The Competition Tribunal has ordered Distell to relinquish control of two of its key brands in the SA propriety spirits markets - the Martell and KWV brands. The decision is aimed at eliminating the potential monopoly by Distell in the proprietary spirits market. The tribunal has also ordered that none of KWV's directors sit on the Distell board.

18-Jun-2003
(Official Notice)
The Competition Tribunal today, 18 Jun 03, ordered:

1. Distell to relinquish control of 2 key brands in the South African proprietary spirits markets, namely the Martell and KWV brands. This means that control of the Martell brand will revert to the owner of the brand, Pernod Ricard while control of the KWV brand will revert to KWV.

2. A director or nominee of KWV (or any company in the group) cannot be appointed as a director of Distell (or any company in the group). In the panel?s view, both Pernod Ricard and KWV are companies with considerable resources and expertise in the liquor industry and both are capable of providing viable competition in the proprietary spirits market.



09-Jun-2003
(Media Comment)
The Competition Tribunal has proposed that Distell dispose of several SFW liquor brands to black economic empowerment groups, not yet players in the industry. Included in SFW's fray are some popular brands such as Mellow-Wood 5 Brandy, Mainstay Cane, Old Buck Gin, Olof Bergh Brandy and Three Ships Whisky. The Commissions consultant on the case said that there were third parties in the industry who would be willing to produce the brands under a licensing agreement and that empowerment groups would be able to approach several sources for funding requirements.
17-Apr-2003
(Media Comment)
Distell was asked to make further proposals on remedies, by the Competition Commission, that could address the concerns of the commission following the merger between Distillers Corporation and Stellenbosch Farmers' Winery to create Distell. Yesterday's (16 Apr 03) tribunal hearing did not reach any conclusions. It will be reconvened on 6 Jun 03 to consider further proposals.

11-Apr-2003
(Media Comment)
Distell will know next week what solution is to be imposed following a ruling by the Competition Tribunal that the merger between SFW and Distellers Corporation would considerably lessen competition in the propriety spirits market.

31-Mar-2003
(Official Notice)
Dr W J Barnard and L N Jonker resigned as non-executive directors of Distell Group effective 31 Mar 03.



18-Feb-2003
(C)
Sales revenue for the 6 months, ended 31 Dec 02, was up 8.9% to R2.9bn from R2.6bn reported in the comparable period in the previous financial year. The 1.8% increase in sales volumes for the period reflects a favourable sales mix at improved overall margins. International sales revenue increased by 30.7% and now comprises 21.6% of total sales revenue. Trading income for the period was 52.3% higher at R389m (R255m).



The calculation of headline earnings has been changed to include merger costs. Comparative figures have therefore been restated. This change, however, has no effect on the current reporting period. Earnings per share for the period were reported at 109.4cps (87.9cps) and headline earnings per share for the period were higher at 104.6cps (85.6cps).



The group believes it is well placed to identify and capitalise on opportunities in domestic and foreign markets. Although slower growth is foreseen for the next 6 months, the group still expects satisfactory growth in trading income for the full year.

The board has declared an interim dividend of 40 cps for the period ended 31 Dec 02. The last day to trade in respect of the dividend is the 7 March 03. The payment date is the 17 March 03.

17-Feb-2003
(Media Comment)
The market was anticipating buoyant interim results from Distell on 18 Feb 03 following improvements in wine sales both locally and abroad. Statistics showed that SA's domestic sales of natural wine in the 12 months to Sep 02 rose 2.4% to 370m gross litres with exports of wine growing by 15% to 192m gross litres. Rand prices were also likely to have improved as trends showed a move towards middle to higher priced categories.
06-Feb-2003
(Official Notice)
The Competition Tribunal has found that the merger between Distillers Corporation and Stellenbosch Farmers' Winery Group, the merger which has resulted in the formation of Distell, is likely to cause a substantial lessening of competition in only one of the markets implicated in the transaction. This is the market for proprietary spirits. A further hearing will be convened for the purpose of determining an appropriate solution.

11-Dec-2002
(Official Notice)
Mr W S MacFarlane, non-executive director of Distell Group Limited will, with effect from 31 Dec 02, resign from the board of directors.

25-Nov-2002
(Media Comment)
The Competition Tribunal completed its hearings on the merger between Distillers Corporation and Stellenbosch Farmers Winery and is expected to announce its ruling in Jan 03.
19-Nov-2002
(Media Comment)
Distell's sparkling wine brand, Pongracz, has become Sweden's second most popular brand after Mo?t - Chandon.
11-Nov-2002
(Media Comment)
Distell has obtained a multi-million rand order for its Two Oceans wine brand from UK grocery chain, Morrisons.
28-Oct-2002
(Media Comment)
Distell has awarded a R17.5m, three-year deal to Comparex, to manage its technology services.
15-Oct-2002
(Media Comment)
Distell has announced their intention to increase their income from abroad to 20% in the next year. The company is planning a strong marketing campaign, focusing on its product, Amarula, to gain international growth and become the world's favoured cream liqueur. Amarula sales in Canada and the US have already increased significantly, and the European markets are also showing increased interest. The liqueur has become the groups' largest contributor to its marginal income.
10-Oct-2002
(Media Comment)
Edward Snell - Co MD David Hooper said, Distell could disadvantage independent bottlers with predatory pricing if it increased its market share of brandy. Edward Snell - Co is a wholesale wine and spirit merchant. It purchases brandy from KWV, which it bottles and sells under its own brand name. Edward Snell - Co's market share is about 15%. The Competition Commission recommended conditional approval for the merger of Distillers Corporation and SFW, provided the merged company divested of its brandy, gin and sparkling wine products. Hooper said that if the two companies were merged, they could set whatever prices they liked and through its power be in a position to severely restrict healthy competition through predatory pricing. He suggested the commission monitor the concentration of power in the industry.

09-Sep-2002
(Media Comment)
The Bloemfontein high court of appeal overturned a Cape High Court order on 6 Sep 02 which had pronounced that Seagrams Africa was entitled to terminate the production and distribution of Martell brandies by SFW. Andre Steyn, director of corporate affairs, said that "our commitment to Martell brandies has finally been vindicated and we can now continue to grow the brand without the uncertainty of the long drawn out litigation hanging over us". The group said that the termination of the agreement would seriously affect revenue because Martell was a "big player" in the brandy market. Distell sold nearly 75% of all brandy consumed in South Africa, marketing a total of 15 brands. Annual brandy sales averaged 45m litres.
28-Aug-2002
(Media Comment)
Distell announced, during Aug 02, a R67m expansion of the cellars at Nederburg which would increase the company's total pressing capacity by more than 50% for red wines and 20% for white wines.
19-Aug-2002
(C)
Distell reported an increase in sales revenue of 6.7% to R4.9bn (R4.6bn) despite a decline of 5.3% in aggregate sales volumes. Trading income improved by 24.3% to R413m (R331.9m), income from associates rose to R13.4m (R5.7m) and exceptional costs (mainly restructuring costs in connection with the merger) dropped to R73.2m (costs of R145.6m). Taxation increased to R96.6m (R10.9m) and net attributable profit increased by 106.1% to R236.5m (R114.8m) resulting in a corresponding rise in EPS to 120.9c (58.7c). The increase of 24.3% in trading income was achieved through improved sales revenue, better gross margins and a reduction in operating expenditure. HEPS increased by 33.6% to R141.7c (106.1c). Capital expenditure to expand operations amounted to R243.5m. Of this, R171.2m was incurred to restructure the merged operations within the group.



Despite having achieved sales volume growth in most major product categories in the local market, Distell's share of the total alcoholic beverage market declined. Key spirit brands showed strong volume growth of 5.4% while wine volumes increased by 2.4%. Distell's sales volumes of flavoured alcoholic beverages was negatively affected by increased competition.



International sales revenue, excluding Africa, increased by 37.4%. Amarula Cream achieved substantial volume growth of 14.0% while sales revenue from natural wines improved by 33.5%. Sales revenue derived from African countries declined by 3.3%.



The consolidation of production plants and distribution centres, as well as the restructuring of the sales and marketing divisions, were completed during the year. These merger benefits will be fully realised in the next financial year. At the same time, in line with redesigned marketing and sales initiatives, additional expenditure to promote brands, has been incurred.



In terms of the ruling of the Competition Tribunal, full notification of the merger has been filed with the Competition Board. The inquiry into the merger is nearing resolution and a ruling from the Competition Authorities, regarding the merger itself, is now awaited. Distell is well position to capitalise on opportunities in the domestic and foreign markets. Provided consumer spending does not deteriorate, the group anticipates satisfactory growth in earnings.
16-Aug-2002
(Media Comment)
The Food and Allied Worker's Union (Fawu) told the Competition Tribunal on 15 Aug 02, that the merger of Stellenbosch Farmers Winery and Distillers should be rejected as it had a negative effect on employees in the merged entities. The union said that in excess of 1 800 jobs were at stake, including both union and non union members. Fawu said that the companies taking over divested assets and brands of Distell should accommodate retrenched staff.



Senion advocate representing Distell, Owen Rogers, responded by saying that, of the 1 400 staff members loosing their jobs, only 164 had been retrenched with the balance either opting for voluntary retrenchment or early retirement. Distell reported on 15 Aug 02 that it had purchased a 10% interest in Canadian distributor of wines and spirits, Peter Mielzynski Agencies for an undisclosed amount.
05-Jul-2002
(Media Comment)
Distell has sold the Lanzerac brand to Christo Wiese with effect from 1 Aug 02.
24-Jun-2002
(Media Comment)
Disposal of some of Distell's brandy and sparkling wine brands (as suggested by the Competition Commission) may result in a change in ownership to foreign bidders, said Jan Scannell, MD of Distell. Scannell said that while the company welcomed the approval of the merger, the conditions the commission proposed were "totally unrealistic". The group thinks that it is well on its way to becoming a South African force in global beverage markets but that the commission's proposal would undermine its potential to grow successfully in those markets.
21-Jun-2002
(Media Comment)
The Competition Commission has released its report on the merger of Distillers and Stellenbosch Farmers Winery, recommending that Distell should be precluded from distributing the brandy brands of its only potential competitor in this market, KWV. It has also recommended that Distell divest itself of several brandy brands as well as a portion of its market share in sparkling wine. Commissioner Menzi Simelane said the merger "had created the architecture for anticompetitive behaviour" as it had removed effective competition in some of the markets. The commission was concerned about the brandy market, where Distell controls 70% of the volume and 75% of the value, and the sparkling wine market where the group has a 75% market share. The commissioner commented on the the highly volatile whisky, vodka, cane and table wine markets and alcoholic beverages markets sayin that they were subject to fashion and were highly volatile. No remedies have been sought in these markets. Distell corporate affairs director Mr Steyn said that the group is studying the recommendations.
19-Jun-2002
(Media Comment)
A report by the Competition Commission on the merger of Distillers and Stellenbosch Farmers Winery (during 2000) is expected to be released on 21 Jun 02. The share price is not reflecting any new interest in the expected release with the rise in price over the last year indicating that the worst case scenario -- the unbundling of the merged entity -- is less likely to occur as time passes. Distell is of the opinion that the commission will raise certain concerns.
04-Jun-2002
(Media Comment)
Distell has signed a multimillion-rand contract with Virgin Wines to produce an exclusive on-line retail brand for Virgin, which is labelled as one of the UK's leading and fastest growing distance-channel retailers. To be called Stone Gables, the exclusive brand has been made for the company by Distell's group wine maker Linley Schultz. Virgin Wines has secured a strategic partnership with amazon.com to run its online wine retail service. During 2001, 10% of Virgin Wines revenue was drawn from South Africa.
15-May-2002
(Official Notice)
Mr L B Kriel has resigned as non-executive director from the board of Distell with effect from 1 Jul 02





15-Apr-2002
(Media Comment)
Distell's marketing manager of mines, Kim Green commented from the Nederburg Auction on 12 Apr 02 that one of the group's targets is that of brand building, with focus on the premium sector where wines are priced between GBP3 and GBP5 a bottle and the super premium sector priced at between GBP5 and GBP7 a bottle. Distell will tailor its offering to supermarkets' requirements since they represent 70% of the wine market in Europe. Tesco alone has 20% of this market. Distell is also focusing on several niche products, the most successful of which is Amarula. The group will be narrowing its portfolio of wine labels to Nederburg, Two Oceans, Durbanville Hills, Fleur du Cap and Drosty-Hof for global volume, which will be supported by 15 luxury brands and boutique labels. In addition to SA, Distell's focus will be on UK, Germany and the US as primary markets.
22-Mar-2002
(Media Comment)
Distell's future hangs in the balance pending an investigation by the Competition Commission. Initially the Competition Commission declared the merger between Distillers Corporation and Stellenbosch Farmers' Winery not notifiable, but since then the Competition Tribunal, which adjudicates mergers, has declared the merger notifiable, and the present probe then ensued. Should the investigation find that the merger prevents or lessens competition it is likely to recommend that the tribunal impose sell-offs or unscramble Distell. The commission will put forward its recommendation early in Apr 02. Should the company take the view that the merger significantly affects competition, it will be up to the company to prove otherwise. Or it has to raise efficiency gains, which outweigh its anti-competitive effect.
27-Feb-2002
(Media Comment)
Distell is engaged in a dispute with multinational drinks giant Diego over the rights to distribute Gordon's Gin in SA. The dispute arose as a result of the multinational establishing a presence in SA and wishing to distribute its own brand. Distell has been distributing Gordon's Gin since 1976 and the product improved sales for the 12 months to Dec 01 by 12%. Distell said that if it accedes to giving up its contract, it will require compensation, the amount of which was not disclosed. The dispute has not been taken to court, both sides are taking legal advice.
19-Feb-2002
(C)
Sales revenue rose by 5.7% to R2.7bn for the interim period, despite a drop in volumes of 7.3%. Improved margins were achieved with emphasis being placed on product profitability and sales mix. Key spirit brands showed a 6.7% growth with natural wine volumes remaining constant and those of alcoholic fruit beverages decreasing under increased competition. Offshore revenue rose 15% and that from African countries dropped by 2.5%. Distell reported that cost reduction following the merger is becoming evident but has been slightly offset by increased marketing and sales initiatives to promote brands. Operating income for the period was R255.8m (R222.3m) and attributable earnings R172m (R120.3m). A net foreign currency gain of R69.6m (R9.1m) was responsible for the 37% rise in headline earnings to R208.9m or 106.8 cents per share.



The merger of Distillers and Stellenbosch Farmers' Winery is, at the interim stage, substantially complete and the directors are confident that they have created a sound basis for long term earnings growth. Full notification has been filed with the Competition Board. Based on this and the assumption that consumer spending will not deteriorate, Distell expects to report satisfactory earnings growth for the full year.
29-Nov-2001
(Media Comment)
The Competition Appeal Court has upheld a ruling by the Competition Tribunal that the merger between Distillers Corporation and Stellenbosch Farmers Winery was a notifiable merger in terms of the Competitions Act. The court said that the effect of the transaction was that Distell acquired direct control over the assets of SFW and that two distinct businesses would effectively merge into one.
30-Oct-2001
(Media Comment)
The Institute of packaging of SA presented a gold award (during Oct 01) for the packaging of Distell's Amarula Cream and a silver for the packaging of the group's Old Buck Dry Gin as part of the Institute's biannual programme.
15-Oct-2001
(Official Notice)
Distell chairman David Nurek said that depreciation of the Rand could improve the group's export potential. He said that while it remained a goal to become a global company, they recognised that strong international performance was related to strong performance in the local market. The local market would, therefore, continue to be a priority for the group.
09-Oct-2001
(Official Notice)
Distell announced the development of 900ha of wine farming land in the Western Cape to secure a sustainable source of superior grapes to develop into topflight, site-specific wines for the international market. This long-term programme, which began in 1987, provides employment for a few hundred people and is due to be completed in 2007. The focus is on low-yield Cabernet Sauvignon, Merlot, Shiraz, Pinotage, Sauvignon Blanc and Chardonnay vineyards and will be aided by the use of sophisticated viticultural techniques. Distell enters into long-term agreements with suppliers, providing the finance and plant material to establish the vineyards, as well as technical expertise. The group has a direct interest in three of the projects: Papkuilsfontein Vineyards, Durbanville Hills and Thandi.
21-Aug-2001
(C)
Distell reported difficult trading conditions both locally and abroad. Sales for the latter six months were equivalent to those of the preceding period with total revenue for the year at R4.6bn, slightly lower than the pro-forma comparative of R4.6bn. Sales volumes of 329.5m litres were 6% lower and trading income 15% below that of the prior period at R333.2m. Sales volumes did, however, improve in the second half, indicating that refocused marketing and sales initiatives were working. Attributable earnings declined 56% to R116.1m with headline earnings only 8% lower at R208.8m or 106.8 cents per share. Distell's domestic market share was lower in the first half as a result of increased competition but did show some improvement by year end. Internationally, volumes remained unchanged and the group expected that, following completion of a review of the agents representing its products, it would be in a better position to grow that business. Management was pleased with the progress of the merging of Distillers and Stellenbosch Farmers Winery and thought that benefits thereof would be apparent during the 2002 financial year and the following two years. Substantial growth was forecast for 2002, assuming constant consumer demand and completion of the integration of the two entities which would greatly reduce the group's cost base.
15-Aug-2001
(Media Comment)
Distell's corporate affairs director, Andre Steyn, said that the group's merger with Stellenbosch Farmers Winery would be complete by Oct 01. Around 300 jobs would be lost as a results of the merger, down on the 400 originally forecast and far fewer than the 1 800 estimated by the National Union of Food, Beverage, Wine, Spirits and Allied Workers Union. Andre Steyn would not confirm market speculation that Distell was considering a merger with Pernod Riccard (an international liquor company), saying that the company was considering a number of strategic alliances. On the topic of merger approval by the Competition Tribunal, the group was confident of a positive outcome. Although exports had not yet benefited from the trade agreement between South Africa and the European Union (details for the separate wine and spirits agreement were not finalised), Distell said that the first few months of trading had "started to pick up".
03-Jul-2001
(Media Comment)
Distell said that it had terminated its relationship with Bols Royal Distillers of the Netherlands. This meant that it would no longer produce, market and distribute Bols brandies and liqueurs in South Africa with effect from 1 Sep 01. The Bols products would, however, still appear on local shelves, to be distributed by E Snell - Co. Part of the reason for termination of agreement was the changing profile of the market. Brandy sales had fallen by 25% between 1995 and 2000.
30-Sep-2013
(X)
The company is an investment holding company with interests in liquor-related companies.



The Group is South Africa's leading producer and marketer of wines, spirits, ciders and ready-to-drinks.
25-Apr-2001
(Media Comment)
Distell spokesman Andre Steyn said that one of the options open to the group following the decision by the Competition Tribunal, would be to appeal the decision. This could however take as long as two years. Should the transaction be investigated by the Appeal Court, competition analysts were of the opinion that the number of retrenchments (which the union put at 1 896) would become an issue. Competition lawyers said that options open to the Tribunal included: allowing the merger; forcing the sale of some of the assets of the merged entity; or declaring the merger void.
20-Apr-2001
(Media Comment)
The Competition Tribunal ruled on 19 Apr 01 that, in spite of a common controlling shareholder, the merger of Distillers and SFW would still attract Competition Commission approval. The decision was based on the fact that although the two entities had common shareholders, there was little evidence that the three major shareholders acted together to control the two groups. The Competition Commission would need to have details of the deal and would then have 60 days to evaluate it before it would go before the Competition Tribunal for a decision. An alternate step for Distell would be to appeal to the Competition Appeal Court.
30-Mar-2001
(Media Comment)
Distell said that it would promote its Amarula Cream liqueur in the US and Africa, in the hope of doubling its foreign revenue over the next four years. The company is close to finalising an agreement with an as yet unnamed US company.
23-Mar-2001
(Media Comment)
The National Union of Food, Beverage, Wine, Spirits and Allied Workers said that they would submit a joint application to the Competition Tribunal with Seagrams on 23 Mar 01. Their application is based on concern about the 1 819 workers who are set to be retrenched by the merged entity.
22-Mar-2001
(Media Comment)
The question of whether the SFW/Distillers merger qualifies as a merger in law (which would then be subject to approval by the Competition Commission) will be addressed by the Competition Tribunal on 23 Mar 01. Distell contends that there has been no change in control of the entities post merger, so the "tie-up" does not qualify as a merger in terms of competition law. Bulmer SA and Seagram Africa disagree and are requesting an order declaring the merger void, ordering the merged entity to sell any assets acquired after the merger or, alternatively, order the parties to notify the merger to the commission in terms of S13 of the act within 7 days.
19-Mar-2001
(Official Notice)
Distillers Corporation (SA) Ltd changed its name to Distell Group Ltd on 19 Mar 01.
06-Mar-2001
(Media Comment)
The Cape High Court has ruled in favour of Martell terminating a 37 year agreement with SFW - now part of the Distell Group - to manufacture three Martell brandies in the country, as sales targets were not met by the company in the 1997-98 years. The group said that they would appeal the decision but added that loss of the contract, for the production of Martell VO, Five Star and Clasique brands "would not be a disaster". Loss of the contract would result in an annual revenue loss of around R3m, a small portion of the total revenue of R2.544bn recorded in the six months to Dec 00.

06-Mar-2001
(Official Notice)
The company will start dematerialisation from 2 Apr 01 and will begin trading electronically from 23 Apr 01.
19-Feb-2001
(C)
Export sales grew by 15% over the period, offsetting the 8% decline in revenue from the local market. Of the R2.5bn turnover (R2.6m pro forma), 16% was generated offshore. Operating revenues declined to R223.0m (R315.2m) and, after an exceptional restructuring cost of R50.9m (R41.8m income) the group returned a net attributable profit of R120.9m (R231.9m) or 61.9cps (118.6cps). Headline earnings for the six months were 20% lower at 78.3 cps (98.9cps). Cash flow from operations was R259m. The estimated cost of finalisation of the restructure and merger of the two groups is in the region of R308.7m and will include the sale of assets. Once restructured, the group will benefit from manufacturing and distribution efficiencies, reduced working capital requirements, increased local sales and the promotion of the group internationally. The restructuring will however only be complete in the following financial year and Distillers directors have cautioned against lower earnings for the second half.



The group will change its name to the Distell Group Ltd on 19 Mar 01.
08-Feb-2001
(Media Comment)
Distillers has appointed a team of six cellar managers in an effort to increase its wine production capabilities on both the local and international front.
23-Jan-2001
(Media Comment)
The usually illiquid Distillers share price rose 20% in the third week of Jan 01 to 845 cps. Analysts are unable to explain the move given the poor results expected from the group.
14-Dec-2000
(Official Notice)
Results for the merged entity for the 6 months to Dec 00 will be materially lower than earlier projections for the two entities on thier own. This follows a decline in consumer expenditure on alcoholic beverages and resultant drop in sales. The company did however report the retention of market share in key products. Shareholders were further advised that benefits from the merger would only filter through in the following financial year.
29-Nov-2000
(Official Notice)
SFW shares will be suspended at the close of business on 29 Nov 00. The LDR to participate in the unbundling is 1 Dec 00. SFW will be terminated on 1 Dec 00. Cheques will be posted to SFW shareholders on 4 Dec 00.
23-Nov-2000
(Official Notice)
Further to the announcement published on 16 Nov 00, delays have occurred in respect of the implementation of the merger of Distillers and SFW. The directors of the companies are considering the matter and are in the process of formulating a timetable for the implementation. Shareholders will be notified of the revised dates for the implementation as soon as possible.
16-Nov-2000
(Official Notice)
Shareholders are advised that the record date to participate in the unbundling has been moved to 24 Nov 00. Accordingly, the suspension and termination of the listing of SFW has also been moved to 24 Nov 00 and 29 Nov 00 respectively.
13-Nov-2000
(Official Notice)
The merger between Distillers and SFW was approved by shareholders on 10 Nov 00. The listing of SFW shares will be suspended with effect from the close of business on 17 Nov 00 and terminated on Wed 22 Nov 00.The record date to be registered as a SFW shareholder is 17 Nov 00.
10-Nov-2000
(Media Comment)
Bulmer SA, the cider producer, opposed the merger between SFW and Distillers and had asked the Competition Tribunal to review the deal. This follows Seagrams approach to the high court for an interdict declaring the merger "a notifiable transaction". The Competition Commission had said that the merger was not notifiable as SFW and Distillers had the same shareholder.



However, according to Bulmer's SA MD Mike Veysie, the merger is notifiable in terms of the Competition Act and should be examined by competition authorities. Bulmer would not join Seagram's application but had opted to approach the Competition Tribunal instead.



The British-base HP Bulmer Holdings entered the SA market a year ago with the R2.3m acquisition of Gilbeys cider brands Hardys, Crossbow and Merriman in addition to its UK stalwarts Strongbow, Woodpecker and Scrumpy Jack.
08-Nov-2000
(Media Comment)
The Competition Commission has launched a broad investigation into the liquor industry relating to restrictive practices, collusion and abuse of dominant position. The Commission has withdrawn its rights to investigate the merger of SFW and Distillers, but does have a year in which to complete investigations into the above mentioned matters. Complaints and recommendations will then be addressed to the Competition Tribunal.
07-Nov-2000
(Media Comment)
About 150 workers in the liquor industry marched on Parliament yesterday (6 Nov 00) to demand that the government halt the merger of SFW and Distillers. James Mdlalose, the president of Nactu handed over a memorandum to an official of the department of trade and industry. He was told that the trade union federation would get a response from Alec Erwin within 14 days. The memorandum called on government to intervene to save an estimated 1 800 jobs that would be lost if the merger went ahead
11-Oct-2000
(Media Comment)
MD of the new Distillers/SFW group, Jan Scannell said that the merged entity will focus on creating a platform for increasing its international exposure. Structures and operational issues are currently being addressed, it is anticipated that the merger will take place before the end of 2000, and will include restructuring and cost cutting exercises. Scannell went on to say that the local industry was ready for the establishment of additional wine brands while internationally, opportunities might be sought in the areas of niche African products like Amarula.
24-Sep-2000
(Media Comment)
The merger of SFW and Distillers will result in the Newco -- still to be named -- holding around 60% of the wine, spirits and alcoholic fruit beverage markets. It is expected that the new group will , in addition to achieving operating efficiencies, be of the right size to compete internationally. One analyst is of the opinion however, that Newco will be as illiquid as the two separate concerns and also that the absence of an empowerment partner has been noted.
21-Sep-2000
(Official Notice)
Further to the joint cautionary dated 13 Sep 00, Distillers will acquire all the assets of SFW for a consideration of R515 157 950, which will be settled by the issue of 55 580 000 Distiller ords at 927cps. The purchase consideration equates to an effective exchange ratio of 39.7 new Distiller ords for every 100 SFW ords in issue. After the disposal, the sole investment of SFW will be the 55 580 000 Distiller ords, equating to a 28.4% holding in Distillers. SFW will distribute these consideration shares by way of a dividend in specie and a reduction in share capital in terms of s60 of the Income Tax Act.
13-Sep-2000
(Official Notice)
Further to the cautionary dated 11 Jul 00, the boards of directors of Distillers and SFW are in the process of concluding discussions regarding the merger of the businesses of the two companies. A detailed announcement is expected soon. There will be no change of control in any of the businesses, the transaction is not a notifiable transaction in terms of s13 of the Competition Act, as read together with s12 of the Act.
24-Aug-2000
(C)
Distillers reported improved market share for the year which was characterised by poor local growth and a better than expected performance of the rand against the Euro. Turnover of R2.1bn is marginally higher than the R1.9bn of the previous year, operating revenue marginally lower at R272.0m (R275.3m) and attributable earnings at 203.5m is 8.2% higher than those of the prior year. International sales remained the same at roughly 17% of turnover but the company did report improved growth in the second half of the period. The reduction in operating margin from 13.9% to 12.6% was attributed to a less profitable mix of products and increased marketing activity. A 60% rise in finance costs arose from foreign investment in an effort to strengthen it's position in international markets. The group reported a return of 26.6% from the newly acquired Tanzanian operation and a 30.6% improvement in cash generated from operations following the implementation of a programme aimed at reducing operating capital. An improvement of around 3% in the local economy is expected during the following period which, together with the already better foreign economy and strategic investments, should bode well for the Group.
11-Jul-2000
(Official Notice)
Negotiations regarding the merger of Distillers and SFW are continuing and shareholders should exercise caution in their respective share dealings.
22-Jun-2000
(Media Comment)
KWV CEO Willem Barnard is quoted as saying that the Distillers / SFW merger will go ahead, all that remains outstanding is the timing of the merger.
20-Jun-2000
(Official Notice)
Further to the cautionary dated 31 May 00, the boards of Distillers and SFW are still considering proposals regarding the merger of the businesses of the two companies.
31-May-2000
(Official Notice)
The Boards of Directors of Distillers and SFW are still considering proposals regarding the merger of the businesses of the two companies.
09-May-2000
(Official Notice)
Further to the cautionary dated 18 Apr 00, the boards of Distillers and SFW are still considering proposals regarding the merger of the businesses of the two companies.
18-Apr-2000
(Official Notice)
Distillers and SFW have entered into negotiations regarding the merging of the businesses of the two companies. Shareholders are advised to exercise caution in their share dealings until further notice.
15-Feb-2000
(C)
Distillers recorded a turnover of R1 224.8m (R1 156.9m), an operating profit of R194.8m (R195.0m) and retained earnings of R112.5m (R90.1m). Headline earnings per share of 86.4cps(84.3cps) and a net asset value of 759cps (641cps) were posted. Pressure on the domestic wine and spirits market coupled with an unfavourable improvement of the rand against major currencies were some of the reasons given for the marginal rise in revenue and drop in operating margins to 15.9% from 16.9%. Certain trademarks were disposed of during the period and various long term distribution rights for Glenfiddish, Grants and Dewars were acquired. This gave rise to improved market share of all important product categories bar whisky. Financing costs rose as a result of the acquisitions which are viewed as strategic in terms of strengthening the groups position in international markets --export sales account for 20% of total turnover. The R20m exceptional item represents compensation for the cancellation of an exclusive distribution right. the period under review saw the merging of the groups farming interests with those of Hygrace Holdings PTE, the acquisition of 25% of Tanzanian Distillers Ltd, a 26% rise in the volume of natural wines exported and the launch of Amarula in Spain. Consumer demand is expected to improve during the year ahead, which will have a positive impact on the groups results, both locally and abroad.
24-Aug-1999
(C)
Distil issued audited final results for 30 Jun 99 reporting revenue up 2.9% to R1981m (R1924m), operating margins down to 13.9% (14.2%), attributable income to shareholders up 6.3% to R188m (R176.9m), HEPS was up 5.3% to 129.6cps (123.1cps), and a final DPS of 45cps was declared for the period.



The marginally higher turnover was due to the improvement in local market share for vital product categories as well as a 28% boost in export sales. Finance costs and depreciation have increased due to an increase in long term borrowings which nearly doubled to R445.8m. As tax rates decreased from 35.65% to 27.8%, the earnings increased to R188m (R176.9m). Total assets in the balance sheet increased by 25.1% to R1870m (R1493m). The group has strengthened its wholesale marketing structure internationally, establishing 5 offices over the past 2 years and Distil has targeted Europe, UK, US and Africa as growth points. The Directors still expect unfavorable trading conditions but Distil's anticipated growth from its export markets would benefit the group.
07-Jul-1999
(Official Notice)
Distillers has formed a 50:50 joint venture company with Hans-Joachim Schreiber's Schreiber group. The Schreiber group will sell Neethlingshof Estate and other farms, including the Neethlingshof and Stellenzicht names and assets to the jv. Distillers will sell the names and assets of Alto, Le Bonheur and Uitkyk wine estates to the jv. Distillers will make an equalisation payment of around R30m to Schreiber to equate the value of assets sold to the jv with the shareholding therein. This jv will not impact on Distillers' profitability in the short term.
01-Feb-1999
(Official Notice)
A deal with the EU over the use of the names Port and Sherry has been struck. Subject to it being signed by the relevant parties, South African producers will be able to use the names for 12 years before the arrangement is reviewed.


Send e-mail to for any enquiries or see Contact Details for phone numbers
Home   •   Terms & conditions   •   PAIA   •   Privacy Policy   •   Security Notice   •   Contact Details
Market Statistics are calculated by Sharenet and are therefore not the official JSE Market Statistics. The calculation/derivation may include underlying JSE data.
© 2019 SHARENET (PTY) Ltd, Cape Town, South Africa
Best in 800x600 with IE6 or Mozilla Firefox