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United Kingdom

Tongaat Hulett Ltd (TONJ.J)

TONJ.J on Johannesburg Stock Exchange

1,321.00ZAc
9 Jun 2019
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Latest Key Developments (Source: Significant Developments)

Tongaat Hulett Says 2018 Results To Be Restated After Review Reveals "Concerning" Past Practices
Friday, 31 May 2019 

May 31 (Reuters) - Tongaat Hulett Ltd ::UPDATE ON STRATEGIC AND FINANCIAL REVIEW AND RENEWAL OF CAUTIONARY ANNOUNCEMENT.UPDATE ON FINANCIAL REVIEW AND IMPACT ON FINANCIAL STATEMENTS.REVIEW HAS REVEALED CERTAIN PAST PRACTICES WHICH ARE OF SIGNIFICANT CONCERN TO BOARD AND COMPANY'S AUDITORS.COMPANY'S AUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2018 WILL NEED TO BE RESTATED.ESTIMATED REDUCTION REFLECTED IN 2018 FINANCIAL STATEMENTS AS CO'S EQUITY AS AT 1 APRIL 2018 TO BE BETWEEN R3.5 AND R4.5 BILLION.TAUDITED FINANCIAL STATEMENTS FOR FY 2019, TO INCLUDE RESTATED PRIOR FINANCIAL INFORMATION, SHOULD BE RELEASED BY OCT 2019.LENDERS AGREED TO WAIVE RIGHTS FROM BREACH OF FINANCIAL COVENANTS IN FACILITIES AGREEMENTS FOR MEASUREMENT DATE FALLING ON 31 MARCH.CONTINUES TO ENGAGE IN COLLABORATIVE PROCESS WITH ITS DEBT PROVIDERS TO ENSURE COMPANY'S LONG-TERM SUSTAINABILITY.BOARD AND MANAGEMENT TAKEN NUMBER OF IMMEDIATE AND REMEDIAL DECISIONS TO IMPROVE CASH GENERATION BY "SIGNIFICANTLY" CUTING COSTS.OBTAINED INDEPENDENT VALUATIONS OF ITS VARIOUS BUSINESSES AS WELL AS ITS LAND PORTFOLIO.NEGOTIATIONS, WHICH ARE AT AN ADVANCED STAGE, ARE CONTINUING BETWEEN COMPANY AND ITS SOUTH AFRICAN LENDERS IN RELATION TO A STANDSTILL AGREEMENT .LOCAL SUGAR MARKETS AND TRADING CONDITIONS HAVE DETERIORATED, RESULTING IN LOWER THAN ANTICIPATED CASH FLOWS IN CO'S BUSINESS.NEGOTIATIONS ARE CONTINUING WITH CO'S SOUTH AFRICAN LENDERS IN RELATION TO A STANDSTILL AGREEMENT.  Full Article

Tongaat Hulett Says Waiver And Undertaking Agreement With Lenders Concluded
Thursday, 16 May 2019 

May 16 (Reuters) - Tongaat Hulett Ltd ::JSE: TON - CONCLUSION OF A WAIVER AND UNDERTAKING AGREEMENT WITH LENDERS; NOTICE IN TERMS OF SECTION 45(5) OF THE COMPANIES ACT.TONGAAT HULETT - CONCLUDED WAIVER, UNDERTAKING DEAL WITH ITS DEBT PROVIDERS ON EXISTING S. AFRICAN SHORT & LONG TERM FACILITIES PROVIDED BY LENDERS.TONGAAT HULETT LTD - COMPANY, OTHER OBLIGORS AND LENDERS INTEND TO NEGOTIATE AND CONCLUDE A STANDSTILL AGREEMENT.TONGAAT HULETT-STANDSTILL AGREEMENT WILL REGULATE MORATORIUM FOR REPAYMENT OF AMOUNTS DUE AND PAYABLE UNDER FACILITIES AND OTHER POSSIBLE FACILITIES.TONGAAT HULETT - LENDERS HAVE EXPRESSED WILLINGNESS TO CONCLUDE STANDSTILL AGREEMENT SUBJECT TO TERMS,CONDITIONS TO BE AGREED.TONGAAT HULETT LTD - SHAREHOLDERS ARE REMINDED THAT COMPANY IS STILL SUBJECT TO CAUTIONARY ANNOUNCEMENT OF 24 APRIL 2019.  Full Article

Tongaat Hulett Says PSG Asset Management Now Holds 10.68 Pct Stake
Friday, 1 Mar 2019 

March 1 (Reuters) - Tongaat Hulett Ltd ::ACQUISITION OF SECURITIES BY PSG ASSET MANAGEMENT PROPRIETARY LIMITED.TOTAL INTEREST IN ORDINARY SHARES OF COMPANY HELD BY PSG NOW AMOUNTS TO 10,68% OF TOTAL ISSUED ORDINARY SHARES OF COMPANY.  Full Article

Tongaat Appoints Rob David Aitken As CFO
Monday, 11 Feb 2019 

Feb 11 (Reuters) - Tongaat Hulett Ltd ::JSE: TON - APPOINTMENT OF CHIEF FINANCIAL OFFICER.TONGAAT HULETT LTD - APPOINTMENT OF ROB DAVID AITKEN AS CHIEF FINANCIAL OFFICER.TONGAAT HULETT - AITKEN HAS BEEN ACTING IN CFO ROLE SINCE AUGUST 2018.  Full Article

Tongaat Appoints John Gavin Hudson As Chief Executive Officer
Monday, 14 Jan 2019 

Jan 14 (Reuters) - Tongaat Hulett Ltd ::JSE: TON - APPOINTMENT OF CHIEF EXECUTIVE OFFICER.APPOINTMENT OF JOHN GAVIN HUDSON AS CHIEF EXECUTIVE OFFICER.  Full Article

Tongaat HY Headline LOSS OF R87 Mln VS Headline Earnings Of R661 Mln
Friday, 9 Nov 2018 

Nov 9 (Reuters) - Tongaat Hulett Ltd ::JSE: TON - INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2018.TONGAAT HULETT LTD - HY HEADLINE LOSS OF R87 MILLION (2017: HEADLINE EARNINGS OF R661 MILLION).TONGAAT HULETT LTD - REVENUE INCREASED 9% TO R8,808 BILLION FOR SIX MONTHS ENDED 30 SEPTEMBER 2018.TONGAAT HULETT LTD - HY SUGAR OPERATIONS RECORDED A COMBINED OPERATING PROFIT OF R1,138 BILLION (2017: R1,308 BILLION).TONGAAT HULETT LTD - TOTAL SUGAR PRODUCTION IN 2018/19 IS ESTIMATED TO BE BETWEEN 1 311 000 TONS AND 1 352 000 TONS.TONGAAT HULETT LTD - SUGAR PRODUCTION IN 2019/20 IS EXPECTED TO EXCEED 1 400 000 TONS.TONGAAT HULETT LTD - IN CURRENT ECONOMIC CONDITIONS, SOME RECOVERY IN CONSUMER DEMAND IS EXPECTED IN SECOND HALF OF FINANCIAL YEAR.  Full Article

Tongaat Says Investec Now Holds 10.0883 Pct Of Total Issued Ordinary Shares Of Co
Thursday, 18 Oct 2018 

Oct 18 (Reuters) - Tongaat Hulett Ltd ::ACQUISITION OF SECURITIES BY INVESTEC LIMITED (“INVESTEC”).INVESTEC NOW HOLDS 10,0883% OF TOTAL ISSUED ORDINARY SHARES OF COMPANY.  Full Article

Tongaat Hulett Appoints Sydney Mtsambiwa As Interim CEO
Friday, 7 Sep 2018 

Sept 7 (Reuters) - Tongaat Hulett Ltd ::APPOINTMENT OF INTERIM CHIEF EXECUTIVE OFFICER.SYDNEY MTSAMBIWA HAS BEEN APPOINTED AS INTERIM CEO WITH EFFECT FROM 1 NOVEMBER.MTSAMBIWA WILL SERVE AS INTERIM CEO UNTIL BOARD HAS FINALISED APPOINTMENT OF STAUDE'S PERMANENT SUCCESSOR.  Full Article

Tongaat Hulett HY headline earnings up 4.8 pct to r661 mln
Monday, 13 Nov 2017 

Nov 13 (Reuters) - Tongaat Hulett Ltd :TONGAAT HULETT LTD - ‍HY REVENUE OF R8,118 BILLION (2016: R8,503 BILLION) - 4,5%​.TONGAAT HULETT LTD - ‍HY HEADLINE EARNINGS OF R661 MILLION (2016: R631 MILLION) +4,8%​.TONGAAT HULETT LTD - ‍HY INTERIM DIVIDEND OF 100 CENTS PER SHARE (2016: 100 CENTS PER SHARE)​.TONGAAT HULETT LTD - ‍THERE IS A POSITIVE OUTLOOK FOR 2017/18 FULL YEAR AND INTO 2018/19, WITH EARNINGS GROWTH AND CASH FLOW MOMENTUM EXPECTED​.  Full Article

Tongaat Hulett sees FY HEPS to be about 573 cents
Thursday, 2 Nov 2017 

Nov 2 (Reuters) - TONGAAT HULETT LTD ::HY ‍HEADLINE EARNINGS ARE EXPECTED TO BE APPROXIMATELY R661 MILLION, COMPARED TO R631 MILLION EARNED IN PREVIOUS HALF-YEAR​.HEPS FOR YEAR ARE EXPECTED TO BE ABOUT 573 CENTS PER SHARE (2016: 547 CENTS PER SHARE), WHICH IS AN INCREASE OF 4,8%​.  Full Article

UPDATE 1-South African Markets - Factors to watch on July 16

July 16 The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Tuesday.