South African & East African Footwear and Leather Goods, Leather and PPE industry news.
Choppies - availability of forensic report
Stock Exchange News Service (SENS) release
September 4 - Further to the Company's circular issued on 14 August 2019 and to related announcements released on 14 August 2019, 27 August 2019 and 3 September 2019, shareholders are advised as follows:
1.It has come to the attention of the board of directors of Choppies (the "Board") that a vast number of shareholders have not had the opportunity to review the Forensic Report issued by Ernst & Young Advisory Services (Proprietary) Limited ("Ernst & Young") in respect of its independent Forensic Investigation into certain transactions to which the Group was party.
2.The Board has, with a view to availing as much information as possible to shareholders, in the best interests of the shareholders and the Company, taken the decision to make the Forensic Report public and available it the news service of the Botswana Stock Exchange Limited ("BSEL") and on the links provided below.
3. Accordingly, shareholders are advised that the Forensic Report has been published today, 2 September 2019 and is immediately available on X-News, and on either of the following links:
Per the announcement published on 1 November 2018, the trading of the Company's shares on both the BSEL and on the Johannesburg Stock Exchange ("JSE") remains suspended until further notice.
The Company's primary listing is on BSEL and its secondary listing is on the JSE.
Cry the beloved Zimbabwe - and a curry hint
In reaction to the article on Zimbabwe in S&V Footwear & Leather Goods on Friday, retired former PMC director Dieter Zettler wrote: "Like many others I feel deeply about the country as it was part of my sales portfolio between 1965 and 1975 when Rolf [Oltmanns] took it over. At the height of it, Bata in Gwelo produced 40 000 pairs per day – partly because of the tekkie plant. They also had their own rubber plant and tannery. The staff was highly motivated and educated with a lot of line managers being Zimbabweans. R.K. Footwear installed the most modern machinery on par with Europe at that stage and Footwear & Rubber the first 2 station, direct injection moulding machine working with uppers on wooden lasts. Their joint MD, Otto Roubicek, did of course lay the foundation for Bata’s first factory in Africa if I am not mistaken in 1936. But remember all my comments are from a 78 year old. "PS: I am rambling on. Kogie Naidoo, who was Roy Eckstein’s receptionist at Jaguar Shoes, moved on to the office staff of Hilton College and if you by any chance visit the Hilton Art Festival this coming weekend, you will find her operating a food stall with excellent curry in the main catering tent."
Retail last week: Comment from 5 retailers on Saturday 31/08/2019
"We did a bit better this week, partly because it's the end of the month, and partly because it's looking a bit brighter. It's been a tough year." - Zoonate Alli, partner, G. Nabee & Co., Lichtenburg, NW Province, SA. Independent, 2 stores, family outfitter.
"Friday was reasonably busy, today has been quiet, although we had expected the week to be busier because of month end. We're not yet seeing an improvement." - Yunus Osman, member, Gaby's Gear, Pretoria, Gauteng, SA. Independent, 1 store, men's and women's outfitter.
"Reasonable. I know most other people are complaining, but I'm grateful for the way things are going at the moment. Overall the year has been reasonable so far." - Zaakir Gani, Gani's Sports World, Klipfontein, Mpumalanga, SA. Independent, 1 store, sports specialist.
"Down. Very disappointing for month end. The economy has got worse and worse every year since the World Cup." - Yunus Gani, member, Gani's, Johannesburg, Gauteng, SA. Independent, 1 store, department store.
"Very bad. The first part of the year was okay, but for the past 2 months it's been down." - Jay Patel, member, Gardinia Stores, Johannesburg, Gauteng, SA. Independent, 1 store, general dealer.
Handbag trend seminar
Cape Town, W Cape, SA – The Footwear & Leather Industry Cluster (FLIC) and co-sponsors SAFLEC, eThekwini Export Programme, Wesgro and the SA Ostrich Business Chamber (SAOBC) will hold a 5-day collection workshop and trend seminar for the handbag sector in Cape Town from October 21-25.
It will cover the 2020/2021 spring/summer season with a brief overview of 2021/2022 autumn/winter trends.
The seminar will run by Arsutoria trainer Maria Cristina Rossi.
It will be held at InvestSA One Stop Shop Boardroom, 46 St Georges Mall, Cape Town. For further details, contact: firstname.lastname@example.org
Mr Price - results of AGM
Durban, KZN, SA (August 29, 2019) – Shareholders are advised that at the Mr Price Group Annual General Meeting ("AGM") held yesterday, Wednesday, 28 August 2019, all the ordinary and special resolutions as set out in the notice of AGM dated 11 June 2019 were passed by the requisite majority of votes of shareholders present in person or represented by proxy.
The Group strives to apply its remuneration philosophy of "partnership" consistently and appropriately and will continue its efforts to engage with shareholders to understand more fully the concerns around the remuneration policy and implementation thereof. Accordingly, shareholders are invited to advise the Group of their reasons for their dissenting votes on the remuneration policy and/or the implementation thereof, and whether they wish to engage with the Group on these issues. Correspondence in this regard should be addressed by email to the Head of Investor Relations, Matthew Warriner (email@example.com), by 30 September 2019. Thereafter the date and time of requested engagements will be scheduled with shareholders individually.