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Voluntary announcement - Commencement of a strategic review of RCL FOODS’ portfolio
RCL FOODS LIMITED
Incorporated in the Republic of South Africa
Registration Number: 1966/004972/06
ISIN: ZAE000179438
Share Code: RCL
(“RCL FOODS" or “the group”)
VOLUNTARY ANNOUNCEMENT - COMMENCEMENT OF A STRATEGIC REVIEW OF RCL FOODS’ PORTFOLIO
Shareholders are advised that the Board of directors of RCL FOODS (“Board”) has appointed Rand
Merchant Bank to assist with an evaluation and review of strategic options (the “Strategic Review”)
regarding the composition of the underlying RCL FOODS portfolio.
The Strategic review includes an assessment of various categories underpinning the RCL FOODS
business which have different value drivers, whilst preserving the scale and efficiency benefits achieved .
Whilst each of the component parts of the group represent attractive exposures to their respective
sectors, and whilst valuable synergies exist in the shared services that RCL FOODS offers to the
portfolio as a whole, the Board is evaluating whether the collective portfolio is optimally configured to
achieve growth and to provide expression to investor preferences.
The Strategic Review is at an early stage, and RCL FOODS will continue to apprise shareholders of
material developments as the evaluation is progressed and as reasonable certainty around the direction
of the Strategic Review is achieved.
Durban
16 November 2020
Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
Date: 16-11-2020 05:00:00
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