Board Change • Jun 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 2 highly experienced directors. Non-Executive Director Natalie Graaff was the last director to join the board, commencing their role in 2025. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • May 21
CEO & Executive Director recently bought P204k worth of stock On the 20th of May, Ramachandran Ottapathu bought around 136k shares on-market at roughly P1.50 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Ramachandran has been a buyer over the last 12 months, purchasing a net total of P15m worth in shares. Announcement • Mar 09
Choppies Enterprises Limited to Report First Half, 2026 Results on Mar 27, 2026 Choppies Enterprises Limited announced that they will report first half, 2026 results on Mar 27, 2026 Announcement • Oct 28
Choppies Enterprises Limited, Annual General Meeting, Nov 28, 2025 Choppies Enterprises Limited, Annual General Meeting, Nov 28, 2025. Location: choppies innovation centre, plot 196, gaborone international conference park, gaborone, Botswana Announcement • Sep 17
Choppies Enterprises Limited to Report Fiscal Year 2025 Results on Sep 22, 2025 Choppies Enterprises Limited announced that they will report fiscal year 2025 results on Sep 22, 2025 Announcement • Mar 20
Choppies Enterprises Limited Declares Interim Dividend for the Six Months Ended December 31, 2024, Payable on 8 May 2025 The board of Choppies Enterprises Limited declared an interim gross dividend of 1.6 thebe (2023: 1.6 thebe) per ordinary share for the six months ended December 31, 2024, payable to shareholders on 8 May 2025. Trading ex-dividend commences 23 April, 2025. Record date: 25 April, 2025. The net local dividend amount is 1.6 thebe per share for shareholders exempt from paying Dividends Tax and 1.44 thebe per share for shareholders liable to pay Dividends Tax. Announcement • Mar 15
Choppies Enterprises Limited to Report First Half, 2025 Results on Mar 24, 2025 Choppies Enterprises Limited announced that they will report first half, 2025 results on Mar 24, 2025 Announcement • Nov 05
Choppies Enterprises Limited Announces Resignation of Andrew Dondo Mogajane as Non-Executive Director Choppies Enterprises Limited advised that Mr. Andrew Dondo Mogajane resigned as a non-executive director of the Company with effect from 4 November 2024, for personal reasons. The Board would like to thank Mr. Mogajane for his valuable contribution to the Company and wishes him well in his future endeavours. The Company has a primary listing on the BSE and a secondary listing on the JSE. Announcement • Oct 29
Choppies Enterprises Limited, Annual General Meeting, Nov 28, 2024 Choppies Enterprises Limited, Annual General Meeting, Nov 28, 2024. Location: choppies innovation centre, plot 196, gaborone international conference park, gaborone Botswana Upcoming Dividend • Oct 09
Upcoming dividend of P0.014 per share Eligible shareholders must have bought the stock before 16 October 2024. Payment date: 28 October 2024. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 5.4%. Lower than top quartile of Batswana dividend payers (9.0%). Higher than average of industry peers (2.3%). New Risk • Sep 29
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.4x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.4x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Market cap is less than US$100m (P940.6m market cap, or US$71.9m). Announcement • Sep 25
Choppies Enterprises Limited Declares Final Dividend for the Twelve Months Ended 30 June 2024, Payable on 28 October 2024 Choppies Enterprises Limited announced that an interim cash dividend (number 07) of 1.6 thebe per share was paid on 16 April 2024. The board has declared a final dividend (number 08) of 1.4 thebe per share, payable on 28 October 2024, thus bringing the total dividend for the year to 3.0 thebe (2023: Nil thebe) per ordinary share. The salient dates and tax implication in respect of shareholders registered on the BSE are detailed below: Last day to trade cum dividend is on 15 October. Trading ex-dividend commences is on 16 October with Record date is on 18 October. Dividend payment date on 28 October. The salient dates in respect of shareholders registered on the Johannesburg Stock Exchange (‘JSE’) are detailed below: Last day to trade cum dividend on 15 October. Trading ex-dividend commences on 16 October with Record date on 18 October Dividend payment date is on 28 October. New Risk • Sep 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks High level of debt (224% net debt to equity). Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (P940.6m market cap, or US$70.7m). Upcoming Dividend • Mar 27
Upcoming dividend of P0.016 per share Eligible shareholders must have bought the stock before 03 April 2024. Payment date: 16 April 2024. Trailing yield: 6.7%. Lower than top quartile of Batswana dividend payers (8.9%). Higher than average of industry peers (2.3%). Announcement • Mar 01
Choppies Enterprises Limited Declares Interim Gross Dividend, Payable on 16 April 2024 The Board of Choppies Enterprises Limited has declared an interim gross dividend of 1.6 thebe (2022: Nil thebe) per ordinary share, payable to shareholders on 16 April 2024. In accordance with the dividend policy adopted at the time of the Botswana Stock Exchange listing, a dividend cover of three will be maintained. Record date: 5 April 2024. Trading ex-dividend commences: 3 April 2024. Last day to trade cum dividend: 2 April 2024. The dividend has been declared out of income reserves. In terms of the Dividends Tax, the following additional information is disclosed: The local Dividend Tax rate is 10%. The net local dividend amount is 1.6 thebe per share for shareholders exempt from paying Dividends Tax and 1.44 thebe per share for shareholders liable to pay Dividends Tax. This interim dividend is the first dividend since the fiscal year 2017, marking a milestone in the performance ofthe Group and the return of value add to shareholders. Announcement • Oct 31
Choppies Enterprises Limited, Annual General Meeting, Nov 27, 2023 Choppies Enterprises Limited, Annual General Meeting, Nov 27, 2023, at 12:00 Coordinated Universal Time. Location: Choppies Innovation Centre, Plot 196, Gaborone International Conference Park Gaborone Botswana Reported Earnings • Sep 22
Full year 2023 earnings released: EPS: P0.11 (vs P0.11 in FY 2022) Full year 2023 results: EPS: P0.11 (up from P0.11 in FY 2022). Revenue: P6.43b (up 6.5% from FY 2022). Net income: P147.0m (up 5.0% from FY 2022). Profit margin: 2.3% (in line with FY 2022). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. New Risk • Sep 15
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (6.3% average weekly change). Negative equity (-P258m). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Large one-off items impacting financial results. Shareholders have been diluted in the past year (40% increase in shares outstanding). Market cap is less than US$100m (P906.5m market cap, or US$66.4m). New Risk • Aug 30
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (6.3% average weekly change). Negative equity (-P258m). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Large one-off items impacting financial results. Shareholders have been diluted in the past year (40% increase in shares outstanding). Market cap is less than US$100m (P906.5m market cap, or US$67.4m). New Risk • Aug 15
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Batswana stocks, typically moving 6.3% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (6.3% average weekly change). Negative equity (-P258m). Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (40% increase in shares outstanding). Market cap is less than US$100m (P906.5m market cap, or US$66.7m). New Risk • Jul 02
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 40% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Negative equity (-P258m). Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (40% increase in shares outstanding). Market cap is less than US$100m (P1.16b market cap, or US$86.1m). Announcement • May 04
Choppies Enterprises Limited Announces Board and Committee Changes The Board of Directors of Choppies Enterprises Limited notified its shareholders of the following: The Board has accepted the resignation of Mr. Thomas Pritchard as an independent non-executive director of the Company effective 1 May 2023 and as a member of the audit and risk committee, remuneration committee, investment committee and the social, ethics and human resources committee of the Company. The Board wishes to thank Mr. Pritchard for his services and expresses its appreciation for his valuable contribution to the Company since his appointment in September 2019. Mr. Ranjith Priyalal De Silva has been appointed in terms of the Company's Constitution, as an independent non-executive director of Choppies and Chairman of the Audit and Risk Committee ("ARC"), with effect from 1 May 2023. Priyalal's appointment is subject to confirmation by the shareholders of the Company at its next annual general meeting. Priyalal, a long serving Chartered Accountant in Botswana, retired as an Audit Partner of PricewaterhouseCoopers (PwC) Botswana on 30 June 2016 after serving PwC for 36 years (19 years as a partner). He also held the position of Chief Operating Officer of PwC Botswana from 1 July 2007 until his retirement on 30 June 2016. At PwC Botswana, he served a large portfolio of audit/tax clients. He operated as the "Trusted Business Advisor" to a number of large privately owned corporates in Botswana. His expertise is primarily in auditing, accounting, tax planning, financial investigations, financial management and governance. Reported Earnings • Mar 04
First half 2023 earnings released: EPS: P0.054 (vs P0.081 in 1H 2022) First half 2023 results: EPS: P0.054 (down from P0.081 in 1H 2022). Revenue: P3.51b (up 8.9% from 1H 2022). Net income: P71.0m (down 32% from 1H 2022). Profit margin: 2.0% (down from 3.3% in 1H 2022). Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has fallen by 1% per year. Announcement • Jan 24
Choppies Enterprises in Talks for Possible Acquisition of Fast- Moving Consumer Goods Business Choppies Enterprises Limited (BSM:CHOPPIES) has entered into talks for possible acquisition of a Botswana based company, operating a fast-moving consumer goods business. Recent Insider Transactions • Nov 16
CEO & Executive Director recently bought P78k worth of stock On the 10th of November, Ramachandran Ottapathu bought around 120k shares on-market at roughly P0.65 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth P807k. Ramachandran has been a buyer over the last 12 months, purchasing a net total of P1.5m worth in shares. Announcement • Nov 01
Choppies Enterprises Limited, Annual General Meeting, Nov 23, 2022 Choppies Enterprises Limited, Annual General Meeting, Nov 23, 2022, at 12:00 Coordinated Universal Time. Agenda: To receive, consider and if deemed fit, approve the Group Audited Financial Statements for the year ended 30 June 2022 together with the Directors' and Auditor's Reports thereon as well as the Integrated Annual Report; to re-elect directors of the company; to approve the remuneration policy set out in section 2 of the remuneration report; to approve the implementation of the remuneration policy as per section 3 of the remuneration report; and to consider other matters. Recent Insider Transactions • Oct 25
CEO & Executive Director recently bought P807k worth of stock On the 21st of October, Ramachandran Ottapathu bought around 1m shares on-market at roughly P0.62 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Ramachandran has been a buyer over the last 12 months, purchasing a net total of P1.4m worth in shares. Reported Earnings • Sep 22
Full year 2022 earnings released: EPS: P0.11 (vs P0.065 in FY 2021) Full year 2022 results: EPS: P0.11 (up from P0.065 in FY 2021). Revenue: P6.04b (up 13% from FY 2021). Net income: P140.0m (up 65% from FY 2021). Profit margin: 2.3% (up from 1.6% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Mar 03
CEO & Executive Director recently bought P131k worth of stock On the 1st of March, Ramachandran Ottapathu bought around 218k shares on-market at roughly P0.60 per share. This was the largest purchase by an insider in the last 3 months. Ramachandran has been a buyer over the last 12 months, purchasing a net total of P2.1m worth in shares. Recent Insider Transactions • Nov 24
CEO & Executive Director recently bought P151k worth of stock On the 23rd of November, Ramachandran Ottappath bought around 250k shares on-market at roughly P0.60 per share. This was the largest purchase by an insider in the last 3 months. Ramachandran has been a buyer over the last 12 months, purchasing a net total of P5.6m worth in shares. Reported Earnings • Sep 24
Full year 2021 earnings released: EPS P0.065 (vs P0.081 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: P5.33b (down 1.7% from FY 2020). Net income: P84.8m (down 19% from FY 2020). Profit margin: 1.6% (down from 1.9% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Sep 15
Choppies Enterprises Limited Provides Earnings Guidance for the Year 2021 Choppies Enterprises Limited provided earnings guidance for the year ending June 30, 2021. For the period, the company expects consolidated Profit after Tax including discontinued operations for the period FY2021 to be between 106% to 126% better than the Loss after Tax of BWP 370.6 million reported for the period FY2020, representing a Profit after Tax of between BWP 22.6 million and BWP 96.7 million. Basic earnings per share of BWP 7.8 to BWP 2.7. Basic earnings per share from continuing operations of BWP 5.7 to BWP 7.3. Headline earnings per share of BWP 8.0 to BWP 4.9. Headline earnings per share from continuing operations of BWP 5.6 to BWP 7.4. Director Overboarding • Aug 28
Director Valentine Chitalu has joined 6th company board Independent Non-Executive Director Valentine Chitalu has been appointed to the board of Arc Minerals Limited (AIM:ARCM). Chitalu now sits on a total of 6 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Director Overboarding • Aug 28
Director Valentine Chitalu has joined 6th company board Independent Non-Executive Director Valentine Chitalu has been appointed to the board of Arc Minerals Limited (AIM:ARCM). Chitalu now sits on a total of 6 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Director Overboarding • Aug 28
Director Valentine Chitalu has joined 6th company board Independent Non-Executive Director Valentine Chitalu has been appointed to the board of Arc Minerals Limited (AIM:ARCM). Chitalu now sits on a total of 6 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Director Overboarding • Aug 28
Director Valentine Chitalu has joined 6th company board Independent Non-Executive Director Valentine Chitalu has been appointed to the board of Arc Minerals Limited (AIM:ARCM). Chitalu now sits on a total of 6 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Director Overboarding • Aug 28
Director Valentine Chitalu has joined 6th company board Independent Non-Executive Director Valentine Chitalu has been appointed to the board of Arc Minerals Limited (AIM:ARCM). Chitalu now sits on a total of 6 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Director Overboarding • Aug 28
Director Valentine Chitalu has joined 6th company board Independent Non-Executive Director Valentine Chitalu has been appointed to the board of Arc Minerals Limited (AIM:ARCM). Chitalu now sits on a total of 6 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Director Overboarding • Aug 28
Director Valentine Chitalu has joined 6th company board Independent Non-Executive Director Valentine Chitalu has been appointed to the board of Arc Minerals Limited (AIM:ARCM). Chitalu now sits on a total of 6 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Director Overboarding • Aug 28
Director Valentine Chitalu has joined 6th company board Independent Non-Executive Director Valentine Chitalu has been appointed to the board of Arc Minerals Limited (AIM:ARCM). Chitalu now sits on a total of 6 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Director Overboarding • Aug 28
Director Valentine Chitalu has joined 6th company board Independent Non-Executive Director Valentine Chitalu has been appointed to the board of Arc Minerals Limited (AIM:ARCM). Chitalu now sits on a total of 6 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Director Overboarding • Aug 28
Director Valentine Chitalu has joined 6th company board Independent Non-Executive Director Valentine Chitalu has been appointed to the board of Arc Minerals Limited (AIM:ARCM). Chitalu now sits on a total of 6 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Director Overboarding • Aug 12
Director Valentine Chitalu has joined 5th company board Independent Non-Executive Director Valentine Chitalu has been appointed to the board of Choppies Enterprises Limited (BSM:CHOPPIES). Chitalu now sits on a total of 5 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Director Overboarding • Aug 12
Director Valentine Chitalu has joined 5th company board Independent Non-Executive Director Valentine Chitalu has been appointed to the board of Choppies Enterprises Limited (BSM:CHOPPIES). Chitalu now sits on a total of 5 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Director Overboarding • Aug 12
Director Valentine Chitalu has joined 5th company board Independent Non-Executive Director Valentine Chitalu has been appointed to the board of Choppies Enterprises Limited (BSM:CHOPPIES). Chitalu now sits on a total of 5 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Recent Insider Transactions • May 27
Deputy Chairman recently bought P810k worth of stock On the 19th of May, Farouk Ismail bought around 1m shares on-market at roughly P0.60 per share. This was the largest purchase by an insider in the last 3 months. Farouk has been a buyer over the last 12 months, purchasing a net total of P12m worth in shares. Reported Earnings • Mar 19
First half 2021 earnings released: EPS P0.05 (vs P0.052 in 1H 2020) The company reported a soft first half result with weaker earnings and revenues, although profit margins were improved. First half 2021 results: Revenue: P2.71b (down 8.7% from 1H 2020). Net income: P65.4m (down 3.8% from 1H 2020). Profit margin: 2.4% (up from 2.3% in 1H 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has fallen by 37% per year, which means it is significantly lagging earnings. Announcement • Mar 10
Choppies Enterprises Limited to Report First Half, 2021 Results on Mar 18, 2021 Choppies Enterprises Limited announced that they will report first half, 2021 results on Mar 18, 2021 Announcement • Nov 16
Choppies Enterprises Limited, Annual General Meeting, Dec 18, 2020 Choppies Enterprises Limited, Annual General Meeting, Dec 18, 2020, at 14:30 South Africa Standard Time. Reported Earnings • Sep 28
Full year earnings released - EPS P0.11 Over the last 12 months the company has reported total profits of P139.2m, up 267% from the prior year. Total revenue was P5.42b over the last 12 months, largely unchanged from the prior year. Profit margins were 2.6%, which is higher than the 0.7% margin from last year. The increase in margin was primarily driven by lower expenses. Announcement • Sep 22
Choppies Enterprises Limited to Report Fiscal Year 2020 Results on Sep 25, 2020 Choppies Enterprises Limited announced that they will report fiscal year 2020 results on Sep 25, 2020 Announcement • Jul 30
An unknown buyer completed the acquisition of Choppies Supermarkets South Africa (Pty) Limited, Choppies Logistics Proprietary Limited, Choppies Warehousing S A Proprietary Limited and Motopi Holdings SA Proprietary Limited from Choppies Enterprises Limited (BSM:CHOPPIES) for approximately ZAR 130 million. An unknown buyer entered into an agreement to acquire Choppies Supermarkets South Africa (Pty) Limited, Choppies Logistics Proprietary Limited, Choppies Warehousing S A Proprietary Limited and Motopi Holdings SA Proprietary Limited from Choppies Enterprises Limited (BSM:CHOPPIES) for approximately ZAR 150 million on November 22, 2019. Under the terms of the transaction, the purchaser will purchase all the issued shares held by Choppies Enterprises Limited and the loan accounts advanced by Choppies Enterprises Limited to each of the subsidiaries. As part of the agreement, Choppies Enterprises Limited will grant to the SA Subsidiaries, a non-transferable licence to continue to use the Choppies name and brand in South Africa for three years from the Effective Date. In terms of a written agreement, Choppies Enterprises is to underwrite any negative equity value in the SA Subsidiaries which is yielded by applying a formula agreed upon by the Parties, subject to a maximum of ZAR 150 million which amount is payable in 15 equal monthly installments, provided that each installment is not less than ZAR 10 million commencing in the month following the Effective Date.
On April 21, 2020, the parties agreed to amend the previously agreed payment terms of the Sellers Obligation to underwrite any negative value in the SA Subsidiaries, to be calculated with reference to a formula, and subject to a maximum of ZAR 150 million will be paid in two payments of ZAR 32.5 million payable on the closing date, and the second payable 30 days after the closing date and the remaining balance payable in installments of BWP 10 million (ZAR 15.2213 million) per month. The Transaction is subject to the approval of the transaction from the lenders to Choppies Enterprises Limited, (Absa Bank Limited, Barclays Bank of Botswana Limited, First National Bank Botswana Limited, Standard Chartered Bank Botswana Limited, Stanbic Bank Botswana Limited, The Standard Bank of South Africa Limited) and consent by the Lenders to the release of any security that they may have in relation to the Sale Equity and the assets of the SA Companies, approval of the Competition Authority of South Africa and compliance by Choppies Enterprises Limited with the requirements of the BSEL and/or the JSE. As of March 2, 2020, all conditions precedent to the transaction have been fulfilled. The transaction is expected to close on February 28, 2020.
An unknown buyer completed the acquisition of Choppies Supermarkets South Africa (Pty) Limited, Choppies Logistics Proprietary Limited, Choppies Warehousing S A Proprietary Limited and Motopi Holdings SA Proprietary Limited from Choppies Enterprises Limited (BSM:CHOPPIES) for approximately ZAR 130 million on April 22, 2020. The transaction has been approved by South African Competition Commission. 
