Pick `N Pay Stores Limited/ Pick `N Pay Holdings Limited - Pick `N Pay Strike
Update 26 July 2005 12h30
Pick `n Pay Stores Limited Pick `n Pay Holdings Limited
Share code: PIK Share code: PWK
ISIN code: ZAE000005443 ISIN code: ZAE000005724
PICK `N PAY STRIKE UPDATE 26 JULY 2005 12h30
?Johannesburg, 26 July 2005U Pick `n Pay confirmed that today, stores were for
the most part, trading normally nationwide.
CEO Sean Summers said that the total turnover losses since Friday amounted to
just under R50-million (for the four days). Most of the turnover loss was
experienced on Friday and Saturday, the first two days of the strike.
`Yesterday we found considerably more restraint exercised at stores on the part
of our employees. We are grateful that they have behaved in a more respectful
manner. Picketing rules have now been agreed with the union through the CCMA and
we believe that any picketing action will now be conducted peacefully and within
the law.
`We have requested of the union that the few remaining instances of bad
behaviour be dealt with by the union leadership.`
Safety arrangements have been made for today`s marches by the union, due to take
place at the major urban centres.
`We believe that our offer of 7.9% or R310 per month, backdated to March 2005,
together with all the benefits Pick `n Pay employees enjoy, is more than fair.
`The company and our employees have suffered significant financial losses and we
are hopeful that this dispute will be resolved as soon as possible.
`We need to make sure that the regrettable actions of particularly the first two
days are not repeated.`
A meeting with the Union has been agreed and will take place at 09h00 tomorrow
(Wednesday 27 July) under the auspices of the CCMA in order to try and find a
resolution to this dispute.
ENDS
26 July 2005
Sponsor : Investec Bank Limited
Date: 26/07/2005 03:42:10 PM
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