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No Change Statement and Notice of the Annual General Meeting
PICK N PAY STORES LIMITED
Registration Number 1968/008034/06
ISIN: ZAE000005443
JSE Share Code: PIK
(“the Company”)
NO CHANGE STATEMENT
Shareholders are advised that the 2020 Integrated Annual Report, Corporate Governance Report
and Remuneration Report are now available on our website, www.picknpayinvestor.co.za
together with the audited Company and Group annual financial statements for the 52 weeks
ended 01 March 2020. The audited annual financial statements contain no modifications to the
reviewed preliminary condensed consolidated Group annual financial statements that were
published on 12 May 2020.
Ernst & Young Inc. completed their audit of the Company and Group annual financial statements
on 19 June 2020. Their unqualified audit report is presented in the 2020 audited annual financial
statements and is available for inspection at the registered office of the Company.
NOTICE OF THE ANNUAL GENERAL MEETING
The 52nd annual general meeting of Pick n Pay will be held on Tuesday, 04 August 2020 at 08:30
to transact business as stated in the notice of the annual general meeting. The meeting will be
conducted entirely by electronic communication as permitted by the Companies Act, No. 71 of
2008, as amended and by the Company’s Memorandum of Incorporation. Details of how to
electronically participate in and vote at the annual general meeting are to be found in the Notice
of the annual general meeting. The record date to vote and participate in the meeting is Friday,
24 July 2020 and accordingly the last day to trade is Tuesday,21 July 2020.
The notice and proxy of the annual general meeting will be posted to shareholders on 06 July
2020, together with the summarised Group annual financial statements. The notice and proxy
form can also be found in the 2020 corporate governance report, which is available on our
website, www.picknpayinvestor.co.za.
CEO TENURE
Richard Brasher confirmed at the publication of the Group’s annual financial results on 12 May, that,
while he intended to step down from his role as CEO, he would continue to lead the Group through the
current COVID-19 crisis.
To provide certainty and continuity, the Board is pleased to confirm that Richard remain with the Group
until a suitable successor has been appointed, or until 31 March 2022, in line with the Group’s normal
retirement policy.
This is set out in the Group’s FY20 Integrated Annual Report and Remuneration Report, published on 3
July 2020.
DIRECTOR DEALING IN SECURITIES
In recognition of his exceptional commitment and extended tenure, the Board has awarded Richard
Brasher 1.2 million forfeitable shares in terms of the Company’s Forfeitable Share Plan, which was
approved by shareholders at the General Meeting held on 12 February 2014. The forfeitable shares are
issued at nil cost and may vest, subject to meeting performance conditions linked to the growth in
headline earnings per share.
In terms of rule 3.63 of the JSE Listings Requirements, the following information is disclosed:
Name of director: RWP Brasher
Designation: Chief Executive Officer
Name of company: Pick n Pay Stores Limited
Number of forfeitable shares: 1 200 000
Date of vesting: 31 March 2022
Nature of transaction: Off-market allocation of forfeitable shares
Nature of interest: Direct beneficial
Clearance obtained: Yes
Cape Town
03 July 2020
Sponsor:
Investec Bank Limited
Date: 03-07-2020 09:13:00
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