DOCSLIB.ORG

Our Shared Value Journey

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Our Shared Value Journey OUR SHARED VALUE JOURNEY INTEGRATED ANNUAL REPORT 2020 WHO WE ARE Choppies is the 1 About this report largest grocery 3 Chairman’s letter to stakeholders retailer in southern OUR BUSINESS 6 Choppies at a glance Africa, outside of 10 Our strategy South Africa. 18 Our business model Our market in context Operating 20 OUR PERFORMANCE 150 stores and eight 24 CEO’s strategic update and operational review distribution centres 27 Five-year review across the African ACCOUNTABILITY continent. 28 Directorate 30 Sustainability report 36 Choppies CSR in 2020 38 Ethical leadership 39 Corporate governance report 48 Risk management 52 King III checklist 58 Investment Committee report ANNUAL FINANCIAL STATEMENTS 59 Statement of directors’ responsibility 60 Certificate of the Company Secretary 61 Directors’ report 63 Report of the Audit and Risk Committee 68 Independent auditor’s report 74 Statements of Profit or Loss and Other Comprehensive Income 76 Statements of Financial Position 77 Statements of Changes in Equity 78 Statements of Cash Flows Corporate information 80 Accounting policies (Registration number: BW00001142508) 100 Notes to the Consolidated and Separate Annual Financial Statements BSE SHAREHOLDERS’ INFORMATION ISIN: BW0000001072 154 Share code: CHOPPIES Shareholders’ analysis Bloomberg code: CHOPPIES BG 155 Shareholders’ diary EQUITY Reuters code: CHOPP.BT 156 Notice of annual general meeting Listing date: January 2012 159 Form of proxy JSE 161 Electronic participation form ISIN: BW0000001072 162 Contact details Share code: CHP Listing date: May 2015 163 Definitions Total shares in issue: 1 303 628 341 About this report Choppies is committed to the principles and philosophy of integrated reporting. Feedback Scope and boundary In our 2020 Integrated Annual Report, for stakeholders, the boundary has been More information available on our website: the year 1 July 2019 to 30 June 2020, we extended beyond the financial reporting www.choppies.co.bw aim to provide an understanding of our boundary to include the material interests business, our growth strategy and our attributable to/associated with our key ability to create sustainable value for our stakeholders. A copy of this Integrated stakeholders in the short, medium and Annual Report is available online at long term. This integrated report focuses Reporting frameworks www.choppies.co.bw. A hard copy on those matters that the directors believe This Integrated Annual Report is prepared is available to shareholders on are material to our stakeholders’ in accordance with IFRS, the BSE Listings request. understanding of the business. Requirements, the JSE Listings Requirements, the Botswana Companies The disclosures encompass Choppies’ For additional contact details please Act, and the International Integrated retail network, across all regions of Reporting Framework. Choppies complies see page 162. continuing operations. The annual financial in all material respects with the principles statements are presented in Botswana Pula contained in the BSE Code of Best (“BWP” or “P”) (unless otherwise stated), Practice on Corporate Governance as which is considered the functional currency. well as King III, as encapsulated in the There was no change to any measurement applicable regulations. We endeavour techniques except for the adoption of to apply King IV Report on Corporate IFRS 16 – Leases, nor were there any Governance* wherever possible. restatements of previously reported information. (For more information see Assurance the Annual Financial Statements on The Company’s external auditor, Mazars, pages 74 to 151.) has independently audited the Annual Financial Statements for the year ended In assessing the risks, opportunities and 30 June 2020. Their qualified audit report outcomes that materially impact the is set out on pages 68 to 73. Group’s ability to create value for its Business process Nature of assurance Assurance provider Consolidated annual financial External audit Mazars statements Internal audit Independent outsourced BDO from September 2020 Health, safety and environmental audits Compliance reviews SHE Group BSE requirements Compliance reviews Stockbrokers Botswana Ltd JSE Listings Requirements Compliance reviews PSG Capital Lender due diligence Legal and compliance Managed internally by the Investment reviews Committee Insurance due diligence Independent risk reviews Alpha Direct Insurance Company Pty Ltd Forward-looking statements This Integrated Annual Report contains forward-looking statements that, unless otherwise indicated, reflect the Group’s expectations as at year-end. Actual results may differ materially from the Group’s expectations. The Group cannot guarantee that any forward-looking statement will materialise and, accordingly, readers are cautioned not to place undue reliance on these. The Group disclaims any intention and assumes no obligation to revise any forward-looking statement even if new information becomes available, other than as required by the BSE Listings Requirements and the JSE Listings Requirements or any other applicable regulations. * Copyright and trademarks are owned by the Institute of Directors in South Africa NPC and all of its rights are reserved. Choppies Enterprises Limited Integrated Annual Report 2020 Page 1 Leadership Our stakeholders For further information please see page 38. For further information please see pages 30 to 32. Financiers The Group’s independent non-executive Chairman is Uttum Corea. The Group’s CEO is Ramachandran Ottapathu and the interim CFO was Vidya Sanooj. The Suppliers new CFO, Minnesh Rajcoomar, joined in May 2020. The CEO and CFO can be contacted at the registered office of the Company. A full list of the directors is set out on Customers pages 28 to 29. Shareholders We create long-term sustainable value for stakeholders through the effective and balanced use of key resources and stakeholder relationships, or “capitals”, as defined in Employees the International Integrated Reporting Council’s International <IR> Framework. Through the execution of our business activities, we increase, decrease or transform Regulators and government the six capitals, as described in our business model on pages 18 to 19. Communities While this report is primarily targeted at our current shareholders and potential investors in the Group, it also Media considers the information needs of our broad and diverse range of stakeholders who are key to sustainable value creation. Employee representation How to read our report Our Integrated Annual Report is structured to show the Responsibility statement relationship between the various elements involved in The Audit and Risk Committee acknowledges its creating value. To aid navigation and cross-referencing, responsibility on behalf of the Board to ensure the this report contains the icons illustrated in this integrity of this Integrated Annual Report. The committee introduction. has applied its mind to the report and believes that it appropriately and sufficiently addresses all performance of Choppies and its subsidiaries for the year within the scope and boundary outlined above. The Audit and Risk Committee recommended this Integrated Annual Report to the Board for approval. The Board acknowledges its responsibility to ensure the integrity of this Integrated Annual Report. Uttum Corea Ramachandran Ottapathu Chairman CEO Page 2 Choppies Enterprises Limited Integrated Annual Report 2020 Chairman’s letter to stakeholders It has been a challenging year both from a greater macro-economic perspective as well as for Choppies specifically. However, we have made major strides in unfounded, which then enabled Choppies creating a solid foundation for the Group to lift the veil of suspicion. We are now to build on and believe this has set the confident to move forward in re-building course for a rebirth of the Company the business. which offers value for money to its customers in a challenging economic Our Investment Committee was busy with environment. the disposal of loss-making operations in South Africa, and the closure of The new Board was appointed in operations in Mozambique, Kenya and September 2019 and we started with a Tanzania, which has helped return the turbulent legacy coupled with a number Group to profitability. Our other markets of major tasks. I am pleased to report that also proved economically challenging we had achieved most of these with a struggling and volatile milestones by year-end at June 2020. It Zimbabwean economy, currency has taken a tremendous effort by the devaluation in Zambia and a lack of finance team and Audit and Risk economies of scale in Namibia. However, Committee to ensure that we published we believe a focused approach in these the FY18, FY19 and now the FY20 regions as well as the numerous UTTUM COREA financial results and not to mention the opportunities for growth in Botswana CHAIRMAN interim results. In addition, we have present the Group with solid prospects. appointed new auditors, Mazars, in This together with the favourable respect of FY19 and FY20. All of this was conditions following the introduction of achieved within a year and is a marathon funds by the founding shareholders, achievement reflecting a great effort by together with additional security, and all involved. given the renegotiation of our banking facilities which will see our monthly The past two years has been marked by payments lower, put the Group on a firm the cloud of suspicion which hung over going concern footing. Choppies relating to certain governance matters, including allegations
Load more

Recommended publications
  • Botswana Agrifood Value Chain Project: Beef Value Chain Study
    Botswana Agrifood Value Chain Project Beef Value Chain Study By Anton van Engelen FAO Consultant Patrick Malope FAO Consultant John Keyser FAO Consultant and David Neven Marketing Officer, FAO Published by the Food and Agriculture Organization of the United Nations and the Ministry of Agriculture, Botswana The designations employed and the presentation of material in this publication do not imply the expression of any opinion whatsoever on the part of the Food and Agriculture Organization of the United Nations, or of the Ministry of Agriculture, Botswana, concerning the legal status of any country, territory, city or area or of its authorities, or concerning the delimitation of its frontiers or boundaries. The mention of specific companies or products of manufacturers, whether or not these have been patented, does not imply that these have been endorsed or recommended by FAO or the Ministry of Agriculture, Botswana, in preference to others of a similar nature that are not mentioned. The views expressed herein are those of the authors and do not necessarily represent those of FAO or the Ministry of Agriculture, Botswana. ISBN 978-92-5-107446-6 All rights reserved. FAO encourages the reproduction and dissemination of material in this information product. Non-commercial uses will be authorized free of charge, upon request. Reproduction for resale or other commercial purposes, including educational purposes, may incur fees. Applications for permission to reproduce or disseminate FAO copyright materials and all other queries on rights and licences, should be addressed by e-mail to [email protected] or to Chief, Publishing Group, Office of Communication, Partnerships and Advocacy, FAO, Viale delle Terme di Caracalla, 00153 Rome, Italy.
    [Show full text]
  • African Powers of Retailing New Horizons for Growth Foreword
    African Powers of Retailing New horizons for growth Foreword The report is the first in an annual series The natural link between the retail International retailer interest in Africa For both international and African where we track the progress of the top opportunity and understanding the also appears to be increasing with early companies seeking to invest on the Welcome to the African retail performers on the continent. consumer is illustrated in our recent stage retail development representing continent the opportunities clearly exist We have set out to provide a comparative report – The Deloitte Consumer Review: significant potential as retail chains and; there are local players to partner first edition of our macro-view of African-based (or ‘home Africa: A 21st Century view. It highlights develop, gain economies of scale, and with who know the markets, understand grown’) listed companies whose core 5 key pillars of the consumer opportunity food safety and higher store standards its cultures, and speak the languages. African Powers of business is retail. African-listed subsidiaries in Africa: the rise of the middle class, become embedded in shopper If common ground can be found, a of large global retailers are included as exponential population growth, the expectations. combination of international expertise Retailing report, individual entities, while we have chosen dominance of youth, rapid urbanisation, together with local knowledge might be not to focus on foreign multi national and fast adoption of digital technologies. The emerging importance of and a successful formula for ongoing retail which identifies companies with operations in Africa. increasing competition in forecourt growth in Africa.
    [Show full text]
  • South Africa Operations a Drag Choppies Interim Results for the Six Months Ended 31 December 2014 Were Am
    SUMMARY OF RESULTS - South Africa operations a drag Choppies interim results for the six months ended 31 December 2014 were a mixed bag with the top line recording impressive growth. Revenue soared by 20% y/y mainly due to new store expansion, while GP margins were maintained at 21.4% (as compared to 21.3% during the period HY 2013). The Botswana market remain the key driver to the group’s revenues, contributing 66% while SA 21% and Zimbabwe 13%. PAT was almost flat growing marginally by 2% while net profit margin Revenue up 20%, while PAT marginally was at 3.4% (lower than the 4.1% posted during the comparable up by 2% period). In SA, Choppies opened 31 stores, however, the retailer continue to incur losses in that market of P8.04mn; an increase from a P6mn loss during the period ended 31December 2013. Surprisingly, the group recorded some good numbers once again from the Zimbabwean market, achieving a 250% growth in revenues. Overall, EPS edged up by 4% to 8.57thebe but the P/E remains the highest in the market at 27x. Choppies now trades at a very high PE of 27x against the market average of 13x. The P/B value is also high at 4.2x. Since listing at 115 thebe, Choppies share price has risen by more than 247% mainly buoyed by its expansion in Botswana, South Africa and Zimbabwe. Plans are also at advanced levels to expand into Namibia, High PE and P/B value Mozambique, Zambia, Kenya and Tanzania. While we applaud the expansion strategy, we are of the view that this might have some potential negative impact on margins going forward.
    [Show full text]
  • WIDER Working Paper 2015/114
    A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Das Nair, Reena; Chisoro, Shingie Working Paper The expansion of regional supermarket chains / canging models of retailing and the implications for local supplier capabilities in South Africa, Botswana, Zambia, and Zimbabwe WIDER Working Paper, No. 2015/114 Provided in Cooperation with: United Nations University (UNU), World Institute for Development Economics Research (WIDER) Suggested Citation: Das Nair, Reena; Chisoro, Shingie (2015) : The expansion of regional supermarket chains / canging models of retailing and the implications for local supplier capabilities in South Africa, Botswana, Zambia, and Zimbabwe, WIDER Working Paper, No. 2015/114, ISBN 978-92-9256-003-4, The United Nations University World Institute for Development Economics Research (UNU-WIDER), Helsinki, http://dx.doi.org/10.35188/UNU-WIDER/2015/003-4 This Version is available at: http://hdl.handle.net/10419/129491 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte.
    [Show full text]
  • The Expansion of Regional Supermarket Chains
    WIDER Working Paper 2017/26 The expansion of regional supermarket chains Implications on suppliers in Botswana and South Africa Reena das Nair and Shingie Chisoro* February 2017 Abstract: This paper explores the effect of the spread of supermarkets on the participation of suppliers in supermarket value chains in Botswana and South Africa. Using secondary data and in- depth interviews with key players in the value chain, the paper evaluates the buyer power of supermarkets evidenced in the negotiation of trading terms. It further assesses the capabilities and investments required by suppliers to access shelf space and remain competitive. Finally, the paper looks at the role of supermarkets and governments in developing local supplier capabilities and the importance of harmonizing policies across borders. Keywords: supermarkets, suppliers, regional value chains, buyer power, strategy, capabilities JEL classification: L1, L2, L22, O1 * Both authors: Centre for Competition, Regulation and Economic Development (CCRED), University of Johannesburg, South Africa, corresponding author: [email protected]. This study has been prepared within the UNU-WIDER project on ‘Regional growth and development in Southern Africa’. Copyright © UNU-WIDER 2017 Information and requests: [email protected] ISSN 1798-7237 ISBN 978-92-9256-250-2 Typescript prepared by Lesley Ellen. The United Nations University World Institute for Development Economics Research provides economic analysis and policy advice with the aim of promoting sustainable and equitable development. The Institute began operations in 1985 in Helsinki, Finland, as the first research and training centre of the United Nations University. Today it is a unique blend of think tank, research institute, and UN agency—providing a range of services from policy advice to governments as well as freely available original research.
    [Show full text]
  • The Expansion of Regional Supermarket Chains: Implications on Suppliers in Botswana and South Africa
    A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Das Nair, Reena; Chisoro, Shingie Working Paper The expansion of regional supermarket chains: Implications on suppliers in Botswana and South Africa WIDER Working Paper, No. 2017/26 Provided in Cooperation with: United Nations University (UNU), World Institute for Development Economics Research (WIDER) Suggested Citation: Das Nair, Reena; Chisoro, Shingie (2017) : The expansion of regional supermarket chains: Implications on suppliers in Botswana and South Africa, WIDER Working Paper, No. 2017/26, ISBN 978-92-9256-250-2, The United Nations University World Institute for Development Economics Research (UNU-WIDER), Helsinki, http://dx.doi.org/10.35188/UNU-WIDER/2017/250-2 This Version is available at: http://hdl.handle.net/10419/161590 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte.
    [Show full text]
  • Oct 2016 Interims
    Tel: +267 318 8627 Dealing +267 318 8622 Fax +267 318 8629 E-mail- [email protected] RESEARCH NOTE: Oct 2016 Interims INTRODUCTION: Tepid results but the future looks bright… Trading & Liquidity Sefalana posted a tepid set of interim results with revenue growing by a Market Cap BWP2.7bn modest 9% to P2.0bn (H15: P1.8bn). Of concern is the decline in Market Cap US$247mn revenue from the main revenue line - the ‘Trading consumer goods’ Shares in Issue 250,726,709 which came in at P1.211bn (H15: P1.22bn). This business segment is the core revenue driver for the group contributing 60% and 48% of Year End April towards revenue and PBT. GP margins from this segment went down to Free Float 100% 5.2% from 5.8%, while GP margins for the group fell to 7.6% from 7.9%. 12 month high P13.80 The decline in margins doesn’t surprise us given the intense competition 12 month low P10.75 in the FMCG sector dominated by Choppies in Botswana. EBITA increased marginally by 4%, while PAT decreased by 1.2% to P57.9mn Target Price P13.42 (H15: P58.6mn). Basic Earnings Per Share softened to 24.96 thebe from PE 16.0x 25.39 thebe, while an interim dividend of 5 thebe was declared, giving a P/B 2.6 52 week rolling dividend yield of 2.1%. Reuters Code SEFA.BT Bloomberg SFLN.BG KEY INVESTMENT THEMES Code Strong performance from Namibia operations. ISIN No. BW 000 000 0157 Potential for growth in Lesotho and South Africa.
    [Show full text]
  • Bonnita Long Life In-Store Competition 2018: Botswana Terms & Conditions
    Bonnita Long Life In-Store Competition 2018: Botswana Terms & Conditions 1. Stand a chance to win one of the following: A Defy 4 burner Gas Stove to the value of P2,500.00 each, in the participating Stores (the “Competition”). 2. The Competition is open to residents of Botswana who are over the age of 18 years, except employees of Parmalat Botswana (Pty) Ltd, the Participating Stores, their associated companies, advertising and promotional agencies, consultants, marketing service providers or any person who directly or indirectly controls or is controlled by these entities or their immediate family members. 3. The Competition commences on 30th July 2018 and ends on 28th October 2018 and is only relevant to the following 75 participating stores as mentioned below: LIST OF STORES FOR BONNITA LONG LIFE IN-STORE COMPETITION RETAIL WHOLESALE 1 CHECKERS AIRPORT 2 CHOPPIES NORTH GATE 3 PICK AND PAY SEBELE 4 PICK AND PAY MOLAPO 5 CHOPPIES SUMMER QUEEN 6 CHOPPIES LISBOA 7 SHOPRITE STATION 8 SPAR AIRPORT 9 SQUARE MART GABORONE 10 CHOPPIES PILANE 11 SPAR MOCHUDI 12 GO BRAND 13 SUPA SAVE MOGODITSHANE 14 CHOPPIES BUS RANK LOBATSE 15 CHOPPIES DHALIA 16 CHOPPIES MILLION TOUCH 17 CHOPPIES SMOOTHSAIL 18 CHOPPIES ABBAS MOSHUPA 19 CHOPPIES HILLSIDE LOBATSE 20 CHOPPIES THAMAGA 21 SPAR RAIL PARK 22 SPAR VILLAGE 23 SPAR ACACIA 24 CHOPPIES BLOCK 81 25 CHOPPIES BLOCK 82 26 CHOPPIES BLOCK 5 27 SUPA SAVE BUS STOP 28 CHOPPIES TANGLEWOOD 29 CHOPPIES TOPSHAPE 30 PHAKALANE CHOPPIES 31 CHOPPIES ATLADIS 32 CHOPPIES SPIN N SHINE 33 SHOPPERS MOLEPOLOLE 1 34 SHOPPERS TLOKWENG
    [Show full text]
  • Aspiring Into Africa
    Aspiring into Africa Integrated annual report 2014 CHOPPIES Integrated annual report 2014 annual report Integrated About our report Choppies is a Botswana-based mass grocery retailer listed on the Botswana Stock Exchange (BSE). The group’s first supermarket was opened in 1986 in Lobatse, Botswana. Since expanding to Gaborone with its third store in 1999, Choppies has maintained a rapid regional growth trajectory which includes more recent expansion into South Africa and Zimbabwe. Choppies now has over 110 stores across sub-Saharan Africa with a full distribution and supply as well as maintenance capability. Scope of this report This is Choppies’ first integrated annual report and presents the The group’s independent non-executive chairman is His financial results and the environmental, social and governance Excellency Festus Mogae, former president of Botswana. performance of the group for the year 1 July 2013 to 30 June 2014. The executive directors are Mr Ramachandran Ottapathu This follows our prior annual report published in October 2013. It is (CEO) and Farouk Ismail (deputy chairman), Manikandan primarily targeted at current stakeholders and potential investors Madakkavil is the CFO. The executive directors and CFO in the group. can be contacted at the registered office of the company. A full list of the directors is contained on page 36 in the Choppies strives to communicate content that is useful and directors’ report. relevant in an open and balanced manner. The report therefore comprises an honest, measured account of the group’s Applicable reporting requirements approach to sustainability that takes account of all resources This integrated annual report is prepared in accordance with employed by Choppies in its business activities and all IFRS, the Listings Requirements of the BSE and the Botswana resources and groups on which Choppies has an impact.
    [Show full text]
  • Supermarkets
    Industrial Development Research Programme (IDRP) Growth and strategies of large, lead firms - Supermarkets FINAL 3 March 2017 Prepared by: Reena das Nair and Shingie Chisoro Centre for Competition, Regulation and Economic Development 1 Contents 1. Introduction ……………………………………………………………………………………. 4 2. Positioning of grocery retailers/supermarkets on the JSE………….................................7 3. Growth and performance of key supermarkets in South Africa ………………………………………. 9 Shoprite Holdings ……………………………………………………………………….. 10 Investment trends ....................................................................................................... 10 Profitability trends ....................................................................................................... 13 Employment trends ..................................................................................................... 15 Pick n Pay Holdings …………………………………………………………………….. 15 Investment trends ....................................................................................................... 15 Profitability trends ....................................................................................................... 19 Employment trends ..................................................................................................... 20 SPAR Group ……………………………………………………………………………... 20 Investment trends ....................................................................................................... 21 Profitability trends ......................................................................................................
    [Show full text]
  • Title : Equity Research Edition : Weekly Bulletin Country : Botswana Date : 21 August 2020 Turnover Volumes
    Title : Equity Research Edition : Weekly Bulletin Country : Botswana Date : 21 August 2020 MARKET COMMENTARY Price gainers for the week Price losers for the week Company Price (P) % change Company Price (P) % change StanChart was the week’s sole gainer, rising by 0.72% to StanChart 1.39 0.72% BTCL 0.83 -1.19% Sechaba 21.55 -0.23% BWP 1.39. On the other hand, BTCL (-1.19%) was the Sefalana 9.29 -0.11% biggest loser followed by Sechaba (-0.23%) and Sefalana (- 0.11%). The Domestic Companies Index thus closed the week 0.04% lower w-o-w at 7,062.70 pts. The Foreign Companies Index Volumes Turnover BWP USD was flat at 1,550.08 pts. Sefalana 99,749 Sefalana 927,621 79,589.87 Turnover declined to BWP 1.4m on 242,673 shares traded Choppies 77,094 BIHL 210,840 18,090.07 vs. the previous week’s BWP 23.3m on 30.0m shares. Deals BTCL 25,978 Engen 102,342 8,780.90 in Sefalana dominated volumes and value transacted with contributions of 41.10% and 65.48%, respectively. BIHL 12,048 Chobe 83,581 7,171.25 Engen 9,869 Choppies 46,256 3,968.80 The BWP strengthened against the USD (+0.58%) and EUR (+0.14%); while it weakened against the ZAR (-0.35%) and Rates GBP (-0.76%). 7 day Bank of Botswana Certificate rate 1.00% 91 day Bank of Botswana Certificate rate 1.02% NewFunds and NewGold depreciated by 3.01% and 1.57% to BWP 44.81 and BWP 214.40, respectively.
    [Show full text]
  • CHOPPIES PLS COVER 7 NH.Indd
    Choppies Enterprises Limited (Incorporated in Botswana) (Registration number 2004/1681) JSE share code: CHP ISIN BW0000001072 (“Choppies” or the “Company”) PRE-LISTING STATEMENT This Pre-listing Statement relates to (i) a private placement by way of an offer for subscription by Choppies to raise approximately R570 million, and a concurrent offer for sale by existing shareholders of the Company (the “Selling Shareholders”), of up to 277 420 758 Offer Shares (the “Offer”) and (ii) the secondary inward listing of the Ordinary Shares on the main board of the securities exchange operated by the JSE Limited (the “JSE”). The Offer Shares comprise up to 117 420 758 new Subscription Shares and up to 160 000 000 existing Sale Shares. This Pre-listing Statement is not an invitation to the general public to subscribe for or purchase the Offer Shares, but is issued in compliance with the Listings Requirements for information purposes. The price payable for each Offer Share (the “Offer Price”) will be determined by way of a bookbuild, managed by the Bookrunner on behalf of Choppies and the Selling Shareholders. If the Directors in their discretion determine that it would not be advisable to proceed with the Offer, then the Company shall not be obliged to proceed with the Offer. As at the Last Practicable Date, the closing price per Ordinary Share on the BSE was P 4.04 (equivalent to ZAR 4.89 ). There is no minimum capital requirement to be realised by the Offer. The Offer Shares will be issued in dematerialised form only and, accordingly, no physical Documents of Title will be issued or delivered to successful applicants.
    [Show full text]