SPAR shareholders (“Shareholders”) are advised that at the annual general meeting (“AGM”) of Shareholders held on Tuesday, 14 February 2023, all the ordinary and special resolutions, as set out in the notice of AGM dated 15 December 2022, were approved by the requisite majority of Shareholders present or represented by proxy save for ordinary resolution… Read more »
Posts Categorized: Latest news
TEMPORARY ARRANGEMENTS RELATING TO MANAGEMENT
SPAR shareholders (“Shareholders”) are referred to the announcement published on SENS on Tuesday, 17 January 2023 in terms of which SPAR informed Shareholders of changes to the SPAR board of directors (“Board”) including the retirement of the Group Chief Executive Officer (“CEO”), Brett Botten, with effect from 31 January 2023.
UPDATE REGARDING RECENT ALLEGATIONS AND GOVERNANCE RELATED MATTERS
SPAR shareholders (“Shareholders”) are referred to the announcement published on SENS on Friday, 9 December 2022 whereby SPAR provided an update on the allegations imposed on the business. SPAR takes all allegations seriously, has received legal advice and would like to provide Shareholders with further information in this regard.
CHANGES TO THE BOARD OF DIRECTORS AND WITHDRAWAL OF A RESOLUTION TO BE ADOPTED AT THE UPCOMING ANNUAL GENERAL MEETING OF THE COMPANY
In compliance with paragraph 3.59 of the JSE Limited Listings Requirements, SPAR shareholders (“Shareholders”) are hereby advised of the following changes to the board of directors of SPAR (“Board”):
No change statement, notice of annual general meeting and availability of the B-BBEE annual compliance report
Shareholders are advised that the Company’s 2022 Integrated Annual Report (“IAR”) incorporating summarised consolidated annual financial statements is available on the Company’s website www.thespargroup.com/pdf/SPAR_IAR_2022.pdf and will be distributed to shareholders today, 21 December 2022.
CHANGES TO THE BOARD
In accordance with paragraph 3.59 of the JSE Limited Listing Requirements, the Board wishes to notify SPAR shareholders (“Shareholders”) of the following changes to the board of directors of SPAR (“Board”) with immediate effect:
UPDATE ON RECENT MEDIA ALLEGATIONS
Shareholders are referred to the recent allegations against the Company, as published in the media via a small minority of aggrieved retailers, regarding a fictitious and fraudulent loan, discrimination towards some of SPAR’s retailers and the composition of the board of directors (“Board”).
Changes to the board
SPAR shareholders (“Shareholders”) are referred to the announcement published on SENS on Friday, 9 December 2022, wherein Shareholders were advised of Mr Graham O’Connor stepping down as chairperson of the board of directors of SPAR (“Board”) and the appointment of Mr Andrew Waller as interim chairperson of the Board until a new chairperson is appointed.
Unaudited interim results for the six months ended 31 March 2022 and cash dividend declaration
The group delivered robust turnover growth, increasing turnover by 5.2% to R67.6 billion. Group operating profit increased by 7.1% to R1.8 billion. SPAR Southern Africa delivered a strong performance. Profits in the foreign businesses have come under pressure due to increased labour and energy costs
Notice of an acquisition of a beneficial interest in SPAR securities
In accordance with section 122(3)(b) of the Companies Act, No. 71 of 2008, as amended, and paragraph 3.83(b) of the JSE Limited Listings Requirements, SPAR shareholders are advised that the Company has received notification that…