YORK TIMBER HOLDINGS LIMITED - Availability of the B-BBEE annual compliance report
Availability of the B-BBEE annual compliance report
York Timber Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1916/004890/06)
Share code: YRK
ISIN: ZAE000133450
(“York” or the “Company”)
AVAILABILITY OF THE BROAD-BASED BLACK ECONOMIC EMPOWERMENT (“B-BBEE”)
ANNUAL COMPLIANCE REPORT
York shareholders are advised that the Company’s annual compliance report prepared pursuant to
section 13(G)(2) of the Broad-Based Black Economic Empowerment Act, No. 53 of 2003, as
amended (the “Act”) is available on the Company’s website:
www.york.co.za/downloads/BEEcertificate2020.2021.pdf
Shareholders are further advised that there were many Government Gazettes published in response
to the Covid-19 pandemic, however none of these considered either the implementation of B-BBEE or
recognised the adverse influence the Covid-19 pandemic would have on the B-BBEE status of
companies. Moreover, the Amended Forest Sector Code makes no reference to the recognition of the
influence of a National Disaster in particular to B-BBEE implementation. This adversely affected the
performance of most measured entities, including York, and in particular in elements such as Skills
Development and Enterprise and Supplier Development. Furthermore, the application of the
discounting principle (as contemplated in the Act) resulted in a downgrade to all entities who did not
achieve the set sub-minimum requirements under the priority elements contemplated in the Act, which
downgrade was not within these entities’ control. In this instance, York achieved a level 4 B-BBEE
rating but was subsequently discounted to a level 5 B-BBEE rating, after application of the discounting
principle.
Sabie
23 December 2020
Sponsor
One Capital
Date: 23-12-2020 02:55:00
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