Facebook Feed

  • FNBB expands its insurance portfolioJune 6, 2023
    FNB Botswana (FNBB) is expanding its insurance portfolio, First National Bank Insurance Brokers (FNBIB) by introducing comprehensive coverage for car, home, and personal risks including residential buildings, household contents, valuable items like jewellery, legal matters, and personal motor vehicles. […]
  • Kelapile returns to the UNJune 6, 2023
    Appointed Chief of Staff for the President of 78th Session of the General Assembly STAFF WRITER editors@thepatriot.co.bw Collen Vixen Kelapile, Botswana’s former Ambassador and Permanent Representative to the United Nations, is heading back to the UN – this time […]
  • TENDER NOTICES: WUCJune 5, 2023
    DESIGN AND CONSTRUCTION OF LETLHAKANE WATER SUPPLY AUGUMENTATION SCHEME DESIGN AND CONSTRUCTION OF A 4KM PIPELINE AND A 200m3 ELEVATED GALVANISED STEEL TANK AT MMATSHUMO VILLAGE
  • VACANCY: Strides of Success (Pty) Ltd June 5, 2023
     TECHNICAL MANAGER (MECHANICAL)  Closing Date: 18th June 2023
  • Vacancy: Lucient Engineering and Construction (Pty) Ltd June 5, 2023
     Rigging/ Ropeman Coordinator  Closing Date:  20th June 2023.
  • About Us
  • Advertise
  • Disclaimer
  • Contact Us
  • Login
  • Register
Tuesday, June 6, 2023
17 °c
Gaborone
21 ° Tue
22 ° Wed
24 ° Thu
26 ° Fri
The Patriot On Sunday
Advertisement
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
Cart / $0.00

No products in the cart.

  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
The Patriot On Sunday
No Result
View All Result
Home Business

Choppies sets the record straight

patriot by patriot
May 2, 2023
in Business
240 12
0
Choppies sets the record straight

Ramachandran

491
SHARES
1.4k
VIEWS
ShareShareShare
Shareholders are referred to an article written by Ann Crotty and Adele Shevel which was published in the Financial Mail on 27 April 2023. In general, the Company does not react to articles speculating about transactions or about the Company, but in this instance, the writers have made misleading and/or false statements which may potentially have pricing implications for the shares of the Company. The writers have not consulted the Company before the article was published.

Choppies disposed of its South African business, Choppies South Africa (but retained the Botswana business and other jurisdictions in which it operated), more than 3 years ago. Pursuant to such sale agreement, the Choppies South Africa name was only permitted to be utilised for 3 years by the new owner, which period has already expired. Such new owner was then required to register a new name and remove Choppies in any form from the relevant store names in South Africa. This was contained in the Competition Commission approval and in SENS announcements released by the Company at that time. Choppies, the listed entity, has not been in take-over discussion with Shoprite nor any of the other retailers in the past 3 years and continue to trade successfully in its other jurisdictions.

The article refers in its heading and in the first part of the article to Choppies (not the South African entity). This creates an incorrect impression that it is the listed entity being referred to in the article, rather than the South African entity. It is well known that Choppies is the listed name of the retail entity on the JSE and BSE. The writers aver that Choppies is in takeover discussions with three other parties given the fragile nature in which it finds itself (again, incorrectly referring to the listed entity) and this may either lead the reader to believe that the Company is failing or there may be a premium payable for their listed shares in a takeover bid. 

Both have implications. Only in the second half of the article do they mention Choppies South Africa, but then refer later in the article again to just Choppies. Then the writers confuse the reader further by including a share price graph comparing Choppies (the listed entity) with Shoprite. Choppies therefore wishes to inform its shareholders and other stakeholders that Choppies is not in discussion with any of the parties mentioned in the Crotty and Shevel article and that the article refers to a business already disposed of more than 3 years ago. As mentioned above, the purchaser of the South African entity is in any event required to have ceased using the name “Choppies”.

Related

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
  • FNBB expands its insurance portfolioJune 6, 2023
    FNB Botswana (FNBB) is expanding its insurance portfolio, First National Bank Insurance Brokers (FNBIB) by introducing comprehensive coverage for car, home, and personal risks including residential buildings, household contents, valuable items like jewellery, legal matters, and personal motor vehicles. […]
  • Kelapile returns to the UNJune 6, 2023
    Appointed Chief of Staff for the President of 78th Session of the General Assembly STAFF WRITER editors@thepatriot.co.bw Collen Vixen Kelapile, Botswana’s former Ambassador and Permanent Representative to the United Nations, is heading back to the UN – this time […]
  • TENDER NOTICES: WUCJune 5, 2023
    DESIGN AND CONSTRUCTION OF LETLHAKANE WATER SUPPLY AUGUMENTATION SCHEME DESIGN AND CONSTRUCTION OF A 4KM PIPELINE AND A 200m3 ELEVATED GALVANISED STEEL TANK AT MMATSHUMO VILLAGE
  • VACANCY: Strides of Success (Pty) Ltd June 5, 2023
     TECHNICAL MANAGER (MECHANICAL)  Closing Date: 18th June 2023
  • Vacancy: Lucient Engineering and Construction (Pty) Ltd June 5, 2023
     Rigging/ Ropeman Coordinator  Closing Date:  20th June 2023.
The Patriot On Sunday

© 2022 Copyright The Patriot On Sunday - Inspired by Search Mart.

Navigate Site

  • About Us
  • Advertise
  • Disclaimer
  • Contact Us

Follow Us

No Result
View All Result
  • Login
  • Sign Up
  • Cart
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders

© 2022 Copyright The Patriot On Sunday - Inspired by Search Mart.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?