To view the PDF file, sign up for a MySharenet subscription.

CHOPPIES ENTERPRISES LIMITED - Cautionary announcement

Release Date: 14/08/2019 14:30
Code(s): CHP     PDF:  
Wrap Text
Cautionary announcement

Choppies Enterprises Limited
(Registration number 2004/1681)
BSEL share code: CHOPPIES
JSE share code: CHP
ISIN: BW0000001072
("Choppies" or the "Company")


Shareholders are referred to the various announcements regarding the delay in the publication of the
Company’s financial results for the year ended 30 June 2018 and the related cautionary statements,
the last of which was published on 2 August 2019. This cautionary is separate from the last cautionary
published on 2 August 2019.

Shareholders are advised that the board of directors of Choppies ("the Board") has completed a
strategic review of its South African business. As a consequence, the Board has concluded that exiting
the South African market is the appropriate strategic decision for the Company.

Accordingly, Choppies has commenced a process which may result in the divestment of Choppies
Supermarkets SA (Pty) Ltd in whole or in part and which if successfully concluded, may have a material
effect on the price of Choppies securities. The Board informs stakeholders of the appointment of
Redford Capital (also engaged as ‘Chief Restructuring Officer’ of the Company), to the role of Sole Lead
Co-ordinator and Advisor on behalf of Choppies in respect of advising on and executing the divestiture
transaction process.

Interested parties can participate in the ‘Expression of Interest’ process at

Redford Capital is not a related party to Choppies (in terms of the Botswana Stock Exchange Limited
("BSEL") Equity Listings Requirements).

Per the announcement published on 1 November 2018, the trading of the Company shares on
both the BSEL and Johannesburg Stock Exchange ("JSE") remains suspended until further notice.

The Company’s primary listing is on the BSEL and its secondary listing is on the JSE.

By Order of the Board
14 August 2019

BSEL Sponsoring Broker

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

Date: 14/08/2019 02:30:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Email this JSE Sens Item to a Friend.

Share This Story