TPC : 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
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