PPC LIMITED - CFO Appointment and COVID-19 Update

CFO Appointment and COVID-19 Update

PPC Ltd
(Incorporated in the Republic of South Africa)
(Company registration number 1892/000667/06)
JSE ISIN: ZAE000170049
JSE code: PPC ZSE code: PPC
("PPC" or "Company")


CFO APPOINTMENT AND COVID 19 UPDATE


CFO APPOINTMENT

The Board and Executive Committee of PPC Ltd are pleased to announce the appointment
of Ms Ronel van Dijk as permanent CFO. It provides the Company with continuity for
all activities that Ronel has initiated since she started in her role as interim CFO
on November 1, 2019. With the acceptance of the position as CFO, Ronel will also
continue to serve as Executive Director of PPC Ltd.


COVID-19 (CV19) UPDATE

PPC is guided by the principles of reducing risks to the health of its employees and
business partners, whilst ensuring business continuity in each of the countries that
the Company operates in. PPC’s CV19 Taskforce was formed in February to prepare a
coordinated set of measures including employee health and safety and cash preservation
measures. During the lockdown in South Africa the Group executive committee has met
daily with the Taskforce leader and the Group Chief Information Officer to ensure
execution of these measures and adjustment to the situation as it develops.

The   Group’s   businesses   have   generally   been   operationally   constrained   in   their
respective jurisdictions during April. PPC Barnet in the DRC has been able to operate
and is expected to produce similar volumes compared to the same period last year.
CIMERWA and PPC Zimbabwe have partially resumed operations in Rwanda and Zimbabwe in
the second half of April. Cement sales volumes in these countries are expected to be
around 15 to 20% of the volumes sold in April 2019. In South Africa, only PPC Lime
sold small quantities to customers deemed by the authorities as essential providers.
Overall sales volumes in South Africa for April are expected to be around 95% lower
compared to April 2019 due to the stringent lock down measures imposed by the South
African government. PPC South Africa is preparing to start production to operate in
line with the risk based regulations and related CV19 Risk Levels announced by the
South African government on the 25 April 2020. The uncertainty around the further
development of the containment of the coronavirus makes it necessary for PPC to work
with various scenarios. Together with the other members of the Industry Association
a request has been made to the Government to support the local industry, expedite
construction    work   and   implement     the   announced     measures   around    infrastructure
development and giving priority to local manufacturing.

PPC has implemented various cost reduction and cash preservation actions to protect
liquidity   through    and   post   the   lockdown   period.   The   committed     facilities   show
sufficient headroom in South Africa under various economic scenarios. The Company is
also continuously engaging with international funders to ensure sufficient liquidity
in its international operations. The refinancing and restructuring project announced
in October 2019 is continuing and an update of this project will be given at the
announcement of the company’s annual results.

PPC will provide further guidance on the financial impact on the group at a later
stage.

Sandton
30 April 2020
Sponsor
Merrill Lynch South Africa (Pty) Limited


PPC:
Anashrin Pillay
Head Investor Relations
Tel: +27 (0) 11 386 9000
Financial Communications Advisor:
Instinctif Partners
Gift Dlamini
Mobile: +27 11 050 7536

Date: 30-04-2020 08:35:00
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