MSM: MASSMART HOLDINGS LIMITED - Integrated Annual Report And Notice Of AGM
MSM: MASSMART HOLDINGS LIMITED - Integrated Annual Report and Notice of AGM Integrated Annual Report and Notice of AGM Massmart Holdings Limited (Incorporated in the Republic of South Africa) Company registration No. 1940/014066/06 JSE Code: MSM ISIN: ZAE 000152617 ("Massmart" or the "Company") INTEGRATED ANNUAL REPORT AND NOTICE OF ANNUAL GENERAL MEETING Massmart shareholders are advised that the Integrated Annual Report of the Company for the year ended December 2019 ("Integrated Annual Report"), which incorporates the audited summary consolidated Group Financial Statements and the notice of the Annual General Meeting, has been made available on our website (www.massmart.co.za). The national lockdown, due to the impact of the COVID-19 virus, has delayed our printing and posting process. As such, the distribution of the Integrated Annual Report will take place once these services have resumed. The audited consolidated Group Annual Financial Statements contain no changes to the reviewed consolidated results for the financial year ended December 2019 released on the Stock Exchange News Service on 27 February 2020. The annual financial statements are audited by Ernst & Young Inc. whose unmodified report is available for inspection at the registered office of the Company. Notice is hereby given that the Annual General Meeting of holders of all classes of shares of the Company will be held on Thursday, 21 May 2020 at 09h00 at Massmart House, 16 Peltier Drive, Sunninghill Ext 6, Sandton. The Board of Directors of the Company has determined, in accordance with section 59 of the Companies Act 71 of 2008, as amended, that the respective record dates for shareholders to be recorded as shareholders in the securities register of the Company in order to: (i) be entitled to receive the notice of Annual General Meeting is Friday, 3 April 2020, and (ii) be entitled to attend, participate and vote at the Annual General Meeting is Friday, 15 May 2020. The last date to trade to be entitled to attend, participate and vote at the Annual General Meeting is Tuesday, 12 May 2020. SALES UPDATE FOR THE 13 WEEKS TO 29 MARCH 2020 Massmart´s total sales for the 13-week period 29 March 2020 amounted to R22.0 billion and represents an increase of 1.3% over the prior year, with comparable store sales increasing by 0.9% over the same period. Product inflation is estimated at 2.3%. Total sales from our SA stores for the 13-week period increased by 1.0% over the prior year, while comparable sales increased by 0.6% over the same period. Total sales from our ex-SA stores measured in constant currencies for the 13-week period showed positive sales growth of 4.5% with comparable sales growth also showing a positive movement of 4.4% over the prior year. In Rand terms the positive sales growth on a total basis was 5.0% and 3.5% on a comparable store basis. Shareholders are referred to Massmart's SENS announcement issued on 30 March 2020 in which the Group highlighted its response to the current COVID-19 crises as well as the high level of uncertainty this has caused, which complicates meaningful analysis of the Group´s sales trends. Subsequent to the 30 March 2020 announcement a number of other countries in which the Group trades have announced national lockdowns or various trading restrictions. Massmart fully supports national and regional measures to combat the spread of this disease and continues to assess and adapt its responses relative to our customers, associates, stakeholders and business performance. The Group will provide further updates to the market as more clarity is obtained as this crises unfolds. The information above has not been audited or reviewed or otherwise reported on by the Company´s external auditors. 15 April 2020 Johannesburg Sponsor JP Morgan Equities South Africa (Pty) Ltd Date: 15-04-2020 07:08:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.