ZED - Zeder Investments Limited - General announce
ZED
ZED
ZED - Zeder Investments Limited - General announcement
Zeder Investments Limited
(Incorporated in the Republic of South Africa)
Registration number 2006/019240/06
JSE share code: ZED ISIN: ZAE000088431
("Zeder" or "the company")
GENERAL ANNOUNCEMENT
Zeder invests in asset-rich agri companies with an established profit history,
strong trademarks, a sound cash flow base and solid management.
Zeder`s investments are of a long-term nature and as a shareholder of reference
we would like to support these companies so that our investments would grow into
highly successful businesses.
Normally our aim is to hold about 20% of the companies in which we invest.
KWV is a large and important investment for Zeder. During the past year KWV
reported a profit of R213m (before tax). KWV is a shareholder in Distell and
reported R248m of Distell`s profit. This means that KWV`s own activities showed
a LOSS of R35m (before tax). To object to this poor performance, Zeder voted
against the reappointment of the chairman of the board at KWV`s annual general
meeting last week.
This vote is directed against KWV`s poor operational performance, not against
the person of the chairman.
In the interest of the wine industry and its shareholders KWV must be a
profitable and successful company. It should focus on business.
Stellenbosch
5 November 2007
Sponsor
PSG Capital (Pty) Limited
Date: 05/11/2007 17:18:03 Produced by the JSE SENS Department.
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