| Fri 20 Mar 2020, 10:49 | | PHUMELELA GAMING AND LEISURE LIMITED - COVID-19 Impact on JSE Listings requirements |
|
COVID-19 Impact on JSE Listings requirements:
COVID-19 Impact on JSE Listings requirements
Phumelela Gaming & Leisure Limited
(Registration number 1997/016610/06)
(Incorporated in the Republic of South Africa)
Share Code: PHM ISIN: ZAE000039269
(“Phumelela” or “the Company” or “the Group”)
COVID-19 Impact on JSE Listings requirements
The JSE has requested of issuers to assess the impact, if any, that the outbreak of COVID-19 and
restrictions on gatherings may have on their business operations in terms of disclosure obligations
contained in the JSE Listings Requirements.
In accordance with the guidelines and restrictions on public gatherings announced by President Cyril
Ramaphosa, Phumelela, Kenilworth Racing, Gold Circle, the Racing Association, the National Horseracing
Authority and The Thoroughbred Horseracing Trust decided on 15 March to stage horse race meetings
behind closed doors until further notice with no public attendance and only essential participants in
attendance. Attendance at betting shops located away from racetracks is limited to under 100 persons.
Further detail in this regard is available on the Phumelela website under the news tab.
At this early stage it is not possible to provide a definitive numerical effect of the global COVID-19 pandemic
on the Tote and fixed odds operations.
Depending on the duration of restrictions there may be an impact on Tote and fixed odds turnover on racing
and thus revenue for the Group. Given that racing is continuing our International division is benefiting from
ongoing live broadcast internationally. Racing restrictions in other jurisdictions may positively or negatively
impact International. As an example, UK racing is suspended until the end of April but punters in that country
are still able to bet on South African racing and this may attract additional turnover.
Reduced attendance at betting shops will also negatively impact gaming revenue but online betting is likely
to be minimally affected, if at all, and may attract punters who otherwise would have visited a shop. Sports
betting is negatively affected by sporting fixtures such as soccer being cancelled or rescheduled
internationally but alternative bet types such as numbers may gain market share as a result.
Shareholders will be kept informed should further information come to light.
Shareholders are reminded of the going concern statement disclosed in note 36 of the 2019 integrated
annual report. At this time, there is no change to that statement and the going concern status is assessed
continually. Cost savings referenced are anticipated to be exceeded. The Group is in regular
communication with its bankers in respect of the facilities available and covenants.
Shareholders are reminded that Phumelela is under cautionary and are advised to continue to exercise
caution when dealing in the Company s securities.
Turffontein
20 March 2020
Sponsor: Investec Bank
Date: 20-03-2020 10:49:00
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.
