TRANSPACO LIMITED - Discontinued operation

Discontinued operation

Transpaco Limited
(Registration number 1951/000799/06)
Share Code: TPC ISIN number: ZAE000007480
(‘Transpaco’ or ‘the company’)

DISCONTINUED OPERATION

On the 30th of September 2019 the Board of Directors approved a decision to discontinue its plastic
post-consumer recycling operation carried out by Transpaco Recycling (Pty) Ltd included in the
Plastic Products reportable segment.

International and local market forces in the plastic recycling industry is preventing Transpaco from
deriving any benefit by remaining in the post-consumer recycling market, hence the
discontinuation.

Selling price levels have been restricted due to prevailing virgin polymer prices while energy, labour
and distribution costs, amongst others, keep rising.

With no likelihood of the situation improving in the short- to medium-term, and in order to stem
losses, the Board has decided to discontinue the operation within the current financial year.

This is not anticipated to have a material impact on the financial position of the company.


Johannesburg
03 October 2019

Sponsor
Investec Bank Limited

Date: 03/10/2019 02:06:00
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.