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Clover possibly delisting
Date: 20 October 2018 Category: Stock Market Share price at time of writing: R16.70 (after increasing 18% after announcement of possible take over talks) We take a quick look at Clover after it announced yesterday that there is a possibility of it being acquired and will then be delisted.
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About Clover
So those who dont know anything about Clover. The information below was obtained from their website.
OUR VISION
To be a leading branded foods and beverages group in South Africa and selected African countries. And to provide accessible nutrition to all consumers.
OUR MISSION
To reach the group’s widely dispersed customers daily, and to provide trusting consumers with quality products through our extensive network. We take care to develop or acquire brands which have the potential to occupy the number one or two position in its chosen segments. To focus on way better operations across the supply chain including services to the trade, and to deliver sustainable shareholder value by being a responsible corporate citizen and preferred employer.
OUR CORPORATE STRATEGY
Clover’s corporate strategy is to build onto existing competencies within the Group and to establish a culture of exceptional performance with a view to set a platform for future market expansion. Different companies within the Group have different strategies, all receiving company-specific support to maximise their potential. Key to all its activities is the expansion of capacities to share in the strong growth in consumption in the segments which it dominates.
STRATEGY
MATERIAL STRATEGIC PILLARS OF THE CLOVER GROUP
OUR VISION
To be a leading branded foods and beverages group in South Africa and selected African countries. And to provide accessible nutrition to all consumers.
OUR MISSION
To reach the group’s widely dispersed customers daily, and to provide trusting consumers with quality products through our extensive network. We take care to develop or acquire brands which have the potential to occupy the number one or two position in its chosen segments. To focus on way better operations across the supply chain including services to the trade, and to deliver sustainable shareholder value by being a responsible corporate citizen and preferred employer.
OUR CORPORATE STRATEGY
Clover’s corporate strategy is to build onto existing competencies within the Group and to establish a culture of exceptional performance with a view to set a platform for future market expansion. Different companies within the Group have different strategies, all receiving company-specific support to maximise their potential. Key to all its activities is the expansion of capacities to share in the strong growth in consumption in the segments which it dominates.
STRATEGY
MATERIAL STRATEGIC PILLARS OF THE CLOVER GROUP
As the 19th century drew to a close, a group of dairy farmers spread across the fertile Natal Midlands decided to organise themselves by founding a dairy co-operative. Through astute vision and leadership, their humble co-operative grew into South Africa’s leading dairy business. Some 112 years later Clover’s shareholders took a giant visionary stride into the future by listing on the JSE on 14 December 2010 to raise the capital needed to grow a Way Better Clover upon its fundamental dairy base. Clover has since embarked on a value creation journey that in 2017 saw Clover being acclaimed as the most reputable company for a second time in the 2017 South Africa RepTrak® study.
So Clover listed in December 2010 and it seems that it is very likely that they will no longer be listed on the JSE come mid to end of 2019. Clover yesterday announced something to this effect. Below the SENS announcement released by Clover on 19 October 2018.
So Clover listed in December 2010 and it seems that it is very likely that they will no longer be listed on the JSE come mid to end of 2019. Clover yesterday announced something to this effect. Below the SENS announcement released by Clover on 19 October 2018.
CAUTIONARY ANNOUNCEMENT
Shareholders are advised that the Company has entered into negotiations with a 3rd party regarding the potential acquisition by the relevant 3rd party of the entire issued share capital of the Company. Shareholders are advised to exercise caution when dealing in the Company's securities until a full or further announcement in this regard is made.
Johannesburg 19 October 2018
End SENS
Shareholders are advised that the Company has entered into negotiations with a 3rd party regarding the potential acquisition by the relevant 3rd party of the entire issued share capital of the Company. Shareholders are advised to exercise caution when dealing in the Company's securities until a full or further announcement in this regard is made.
Johannesburg 19 October 2018
End SENS
The SENS is sweet and short. Basically saying there is a chance that a third party will be buying all the shares in the company, and therefore they will delist should this happen. And the SENS was certainly sweet for Clover investors. When the news broke the share spiked by almost 19%. Have a nice weekend Clover shareholders.