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Tongaat Hulett Ltd

TONJ.J

Latest Trade

1,321.00ZAc

Change

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Today's Range

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52 Week Range

1,319.00

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6,987.00

As of on the Johannesburg Stock Exchange ∙ Minimum 15 minute delay

Latest Developments

Tongaat Hulett Disposes Interest In Tongaat Hulett Namibia Proprietary Limited

Nov 19 (Reuters) - Tongaat Hulett Ltd <TONJ.J>::JSE: TON - TONGAAT HULETT DISPOSES OF ITS INTEREST IN TONGAAT HULETT (NAMIBIA) (PROPRIETARY) LIMITED.TONGAAT HULETT LTD - PURCHASE PRICE ON A DEBT FREE BASIS FOR NAMIBIAN BUSINESS IS N$220 MILLION PAYABLE IN CASH.TONGAAT HULETT LTD - TONGAAT HULETT PLANS TO USE ITS SHARE OF PROCEEDS TO REDUCE ITS DEBT LEVELS.TONGAAT HULETT LTD - THN HAS ENTERED INTO A SALE OF BUSINESS AGREEMENT TO SELL ENTIRE SUGAR PACKAGING AND DISTRIBUTION BUSINESS OF THN TO BOKOMO.TONGAAT HULETT LTD - TONGAAT HULETT WILL ULTIMATELY SHARE IN 51% OF PROCEEDS FROM SALE.

Tongaat Hulett Says Lenders Agreed To Make New Senior Term Loan Facilities

Nov 18 (Reuters) - Tongaat Hulett Ltd <TONJ.J>::RENEWAL OF CAUTIONARY AND FURTHER UPDATE ON GROUP PROCESSES.ENTERED INTO A DETAILED TERM SHEET WITH LENDERS.NEGOTIATIONS ON DEBT STANDSTILL IN MOZAMBIQUE CONTINUE TO PROCEED POSITIVELY.LENDERS AGREED TO MAKE NEW SENIOR TERM LOAN FACILITIES, SENIOR REVOLVING CREDIT FACILITIES AND OVERDRAFT FACILITIES AVAILABLE TO CO.ANTICIPATES RELEASING INFORMATION ON PWC'S KEY FINDINGS ON COMPANY'S WEBSITE ON FRIDAY 29 NOVEMBER 2019.APPOINTS DAN LESEJA MAROKANE AS AN EXECUTIVE DIRECTOR OF TONGAAT HULETT.PROGRESS CONTINUES IN IMPLEMENTATION OF TURNAROUND PLAN WHICH IS AIMED AT REDUCING COSTS AND RE-BASELINING CO'S COST BASIS.EMBARKED ON DISPOSAL OF CERTAIN NON-CORE ASSETS.

Tongaat Hulett Issues Update On Group Processes

Oct 7 (Reuters) - Tongaat Hulett Ltd <TONJ.J>::JSE: TON - RENEWAL OF CAUTIONARY AND FURTHER UPDATE ON GROUP PROCESSES.TONGAAT HULETT - PROGRESSING WELL IN TALKS WITH ITS SOUTH AFRICAN, MOZAMBICAN DEBT PROVIDERS ON RESTRUCTURE OF ITS SHORT & LONG-TERM DEBT FACILITIES.TONGAAT HULETT LTD - STRATEGIC REVIEW HAS HIGHLIGHTED VARIOUS ALTERNATIVES AVAILABLE TO TONGAAT HULETT TO REDUCE GROUP'S DEBT.TONGAAT HULETT LTD - BOARD, TOGETHER WITH MANAGEMENT TEAM, IS PROGRESSING WELL IN DEVELOPING A ROBUST REMEDIAL PLAN IN RESPONSE TO FORENSIC REPORT.TONGAAT HULETT LTD - PROCESS OF COMPLETING CONSOLIDATED FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2019 IS WELL PROGRESSED.TONGAAT HULETT LTD - IN ADDITION TO FORENSIC REVIEW, MANAGEMENT HAS COMPLETED ITS COMPREHENSIVE INTERNAL REVIEW PROCESS.TONGAAT HULETT LTD - RELEASE OF AUDITED MARCH 2019 FINANCIAL STATEMENTS WILL EXTEND BEYOND PREVIOUSLY ANTICIPATED DATE OF 31 OCTOBER 2019.TONGAAT HULETT - BOARD WITH ASSISTANCE OF ITS ADVISORS, IS CONSIDERING POSSIBLE SALE OF ASSETS, POSSIBLE EQUITY CAPITAL RAISE OR COMBINATION THEREOF.

Tongaat Hulett Says Delisting, Terminating Secondary Listing On LSE

Aug 5 (Reuters) - Tongaat Hulett Ltd <TONJ.J>::NOTICE OF CANCELLATION OF LISTING ON LSE.DATE ON WHICH CANCELLATION IS DUE TO TAKE PLACE IS 3 SEPTEMBER 2019.SHAREHOLDERS ARE NOTIFIED THAT CO IS CANCELLING SECURITY FROM FCA OFFICIAL LIST.

Tongaat Hulett To Terminate Its Secondary Listing On LSE

Aug 2 (Reuters) - Tongaat Hulett Ltd <TONJ.J>::NOTICE OF CANCELLATION OF LISTING ON LSE.COMPANY HAS TAKEN A DECISION TO TERMINATE ITS SECONDARY LISTING ON LSE.COMPANY CONTINUES TO MAINTAIN ITS PRIMARY LISTING ON JSE.DETERMINED VOLUME OF TRADE OVER PAST FEW YEARS, COST OF MAINTAINING SECONDARY LISTING, DOES NOT SUFFICIENTLY WARRANT PRESENCE ON LSE.SHAREHOLDERS REFLECTED ON UK SHARE REGISTER AS AT 4 SEPT WILL BE TRANSFERRED ONTO SOUTH AFRICAN SHARE REGISTER.

Tongaat Hulett Says Suspension Of Listing Of Co's Shares Voluntary

June 11 (Reuters) - Tongaat Hulett Ltd <TONJ.J>::TONGAAT HULETT - DECISION BY BOARD TO REQUEST SUSPENSION OF LISTING OF TONGAAT HULETT SHARES ON JOHANNESBURG STOCK EXCHANGE WAS VOLUNTARY.TONGAAT HULETT - REASON FOR SUSPENSION WAS TO ENSURE THAT THE MARKET HAD RELEVANT INFORMATION TO ENABLE FAIR TRADING.TONGAAT HULETT LTD - CEO SAYS THE SUSPENSION DOES NOT HAVE AN IMPACT ON DAY TO DAY OPERATIONS AND TONGAAT HULETT CONTINUES AS A GOING CONCERN.TONGAAT HULETT - SUSPENSION OF LISTING TEMPORARY, PLAN TO RE-INSTATE LISTING AFTER FINANCIAL RESULTS AT END OF OCTOBER 2019.TONGAAT HULETT - CONTINUES TO ENGAGE POSITIVELY IN A COLLABORATIVE PROCESS WITH ITS LENDERS.

Tongaat Hulett To Restate March 2018 Financial Statements

June 10 (Reuters) - Tongaat Hulett Ltd <TONJ.J>::JSE: TON - SUSPENSION OF LISTING OF SHARES AT REQUEST OF THE COMPANY.TONGAAT HULETT LTD - REQUESTED THAT JSE SUSPEND LISTING OF COMPANY'S SECURITIES WITH IMMEDIATE EFFECT.TONGAAT HULETT - LISTING OF SECURITIES ON LONDON STOCK EXCHANGE, ON WHICH CO HAS SECONDARY LISTING, HAS ALSO BEEN SUSPENDED.TONGAAT HULETT - CONTINUING TO FORMULATE ONGOING STRATEGIC REVIEW AND COMPREHENSIVE TURNAROUND STRATEGY.TONGAAT HULETT - REACHED CONCLUSION TO RESTATE MARCH 2018 FINANCIAL STATEMENTS, CONSEQUENTIAL IMPACT ON 30 SEPT 2018 STATEMENT.

Tongaat Hulett Says 2018 Results To Be Restated After Review Reveals "Concerning" Past Practices

May 31 (Reuters) - Tongaat Hulett Ltd <TONJ.J>::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.

Tongaat Hulett Says Waiver And Undertaking Agreement With Lenders Concluded

May 16 (Reuters) - Tongaat Hulett Ltd <TONJ.J>::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.

Tongaat Hulett Says Restatement Of Prior Financial Information Is Anticipated

April 24 (Reuters) - Tongaat Hulett Ltd <TONJ.J>::RENEWAL OF CAUTIONARY ANNOUNCEMENT.STRATEGIC AND FINANCIAL REVIEW IS ONGOING WITH CONSIDERABLE PROGRESS BEING MADE TO DATE..WHILE FULL IMPACT OF THIS REVIEW IS STILL BEING DETERMINED, A RESTATEMENT OF PRIOR FINANCIAL INFORMATION IS ANTICIPATED.FULL IMPACT OF STRATEGIC & FINANCIAL REVIEW STILL BEING DETERMINED, RESTATEMENT OF PRIOR FINANCIAL INFORMATION IS ANTICIPATED.CONTINUE TO ENGAGE IN COLLABORATIVE PROCESS WITH DEBT PROVIDERS TO ENSURE COMPANY'S LONG-TERM SUSTAINABILITY.IMPLEMENTATION OF A TURNAROUND PLAN RESETTING FINANCIAL AND COMMERCIAL PRIORITIES HAS COMMENCED.IMPLEMENTATION OF TURNAROUND PLAN STREAMLINING & RATIONALISING BUSINESSES, REVITALISING EXECUTIVE LEADERSHIP TEAM HAS COMMENCED.IS COMMITTED TO FINALISING 31 MARCH 2019 AUDITED ANNUAL FINANCIAL STATEMENTS BY END JUNE 2019.

Quote and financial data from Refinitiv. Fund performance data provided by Lipper. All quotes delayed a minimum of 15 minutes.

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