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PEPKOR HOLDINGS LIMITED - Voluntary Update on the Impact of Kwazulu Natal Floods on Peps Isipingo Distribution Centre

Release Date: 13/04/2022 15:00
Code(s): PPH PEP02 PEP01 PEP04 PEP03     PDF:  
Wrap Text
Voluntary Update on the Impact of Kwazulu Natal Floods on Pep’s Isipingo Distribution Centre

(Incorporated in the Republic of South Africa)
(Registration number: 2017/221869/06)
Share code: PPH
Debt code: PPHI
ISIN: ZAE000259479
(“Pepkor” or “the Company” or “the group”)


In the past few days, the KwaZulu-Natal province in South Africa has experienced widespread flooding
as a result of heavy rainfall. This has disrupted transport infrastructure and port operations in the region.

Shareholders and noteholders are advised that from a group perspective, PEP’s Isipingo distribution
centre in Durban has sustained significant damage due to the floods and supply chain operations have
been adversely affected. The distribution centre has been temporarily closed to ensure the safety and
well-being of our employees and to commence recovery operations.

PEP operates three distribution centres across South Africa, situated in Durban, Cape Town and
Johannesburg. Contingency plans are being put in place for stores to be serviced in the short-term from
the unaffected distribution facilities.

The group is not currently in a position to quantify the full extent of the losses suffered in terms of
merchandise, infrastructure and disruption of operations. Adequate insurance cover is in place.

Leon Lourens, the chief executive officer of Pepkor stated: “We are deeply saddened by the impact
these floods are having on the KwaZulu-Natal community, including our employees, customers and
their families. I would personally like to thank our Isipingo distribution centre team for their courageous
actions over the past few days to ensure the safety of employees and commitment to restoring
operations as soon as possible.”

Pepkor continues to monitor the situation carefully and will advise stakeholders of any further
developments should this be considered necessary.

13 April 2022

Equity Sponsor
PSG Capital

Debt Sponsor and Corporate Broker
Rand Merchant Bank (A division of FirstRand Bank Limited)

Date: 13-04-2022 03:00:00
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