2018-11-21

RCL - change to the board


Shareholders were advised that Dr Penny Moumakwa has been appointed as a non-executive director of the Company, with effect from 1 January 2019.

2018-11-20

RCL - report on proceedings at AGM


At the 52nd (fifty second) annual general meeting ("AGM") of the shareholders of RCL FOODS held on Tuesday, 20 November 2018, all the ordinary and special resolutions proposed at the meeting were approved by the requisite majority of votes.

2018-09-28

RCL - annual financials. AGM notice, BEE report


The company released its summarised consolidated financial statements for the year ended 30 June 2018 (“results”) on the Stock Exchange News Service on 28 August 2018. The results were extracted from the annual financial statements which were audited by PricewaterhouseCoopers Inc., who expressed an unmodified opinion thereon. Shareholders are advised that the annual financial statements have been distributed on 28 September 2018.

Notice of the annual general meeting
Notice is hereby given that the 52nd annual general meeting of the company's shareholders will be held at No 10 The Boulevard, Westway Office Park, Westville, on Tuesday, 20 November 2018 at 08h30 to transact the business as stated in the annual general meeting notice forming part of the annual financial statements.

Record date to determine which shareholders are entitled to receive the notice of annual general meeting - 21 September 2018
Last day to trade in order to be eligible to attend and vote at the annual general meeting - 6 November 2018
Record date to determine which shareholders are entitled to attend and vote at the annual general meeting - 9 November 2018
Forms of proxy for administrative purposes for the annual general meeting to be lodged by 08h30am* 16 November 2018
*any proxies not lodged by this time must be handed to the chairperson of the annual general meeting immediately prior to such proxy exercising his/her right to vote at the annual general meeting.

Availability of BEE Compliance Report
Shareholders are advised that the latest annual compliance report in terms of Section 13G(2) of the Broad-Based Black Economic Empowerment Amendment Act No. 46 of 2013, is available on http://www.rclfoods.com/bbbee

2018-08-28

RCL final results June 2018


Revenue decreased to R24.4 billion (R24.9 billion). Operating profit increased to R1.3 billion (R776.5 million). Profit attributable to equity holders was higher at R922.4 million (R515.7 million). Furthermore, headline earnings per share came in at 96.8 cents per share (63.5 cents per share).

Dividend
The directors have resolved to declare a final gross cash dividend (number 87) of 25.0 cents per share bringing the total dividend declared for the year ended June 2018 to 40.0 cents (2017: 30.0 cents).

Prospects
Whilst we are expecting the recent modest recovery in market volumes to continue, we acknowledge that trading conditions will continue to be challenging and the fight for market share will remain fierce. The Consumer division will continue to drive its groceries brands and keep the momentum in market share growth through strong innovation and brand investment. Speciality is expected to become a smaller but more sustainable business. The revised Chicken model has delivered per expectation and substantial focus will be centred around restoring consumer confidence in the Rainbow brand following the Listeriosis challenge.

Government have responded to industry concerns in the local sugar market by implementing a revised Dollar-Based Reference Price, a component of the existing tariff. The positive impact of the tariff will only become evident once the excessive import stocks that have built up prior to the increased tariff being implemented have been sold through the market and the supply/demand balance restored in the local market. The Sugar business unit will continue to focus on ways to reduce costs as well as investigate alternative applications to ensure the business" long-term sustainability. We expect volume recovery at Milling to continue and for initiatives implemented at Baking to start bearing fruit. Logistics will continue to seek new business and reduce costs. The various innovations in the business are positioning it favourably to recover from the volumes lost through Chicken"s restructure.

Our transformation into "ONE RCL FOODS" and the shared vision and commitment it has brought across all our businesses, has presented a host of synergies and opportunities that have exceeded our expectations. It has given us a solid platform from which to create value on our journey to building a food business with brands that matter.

2018-08-28

RCL final results June 2018


Revenue decreased to R24.4 billion (R25.0 billion). Operating profit increased to R1.3 billion (R776.5 million). Profit attributable to equity holders was higher at R922.4 million (R515.7 million). Furthermore, headline earnings per share came in at 96.8 cents per share (63.5 cents per share).

Dividend
The directors have resolved to declare a final gross cash dividend (number 87) of 25.0 cents per share bringing the total dividend declared for the year ended June 2018 to 40.0 cents (2017: 30.0 cents).

Company prospects
Whilst we are expecting the recent modest recovery in market volumes to continue, we acknowledge that trading conditions will continue to be challenging and the fight for market share will remain fierce. The Consumer division will continue to drive its groceries brands and keep the momentum in market share growth through strong innovation and brand investment. Speciality is expected to become a smaller but more sustainable business. The revised Chicken model has delivered per expectation and substantial focus will be centred around restoring consumer confidence in the Rainbow brand following the Listeriosis challenge.

Government have responded to industry concerns in the local sugar market by implementing a revised Dollar-Based Reference Price, a component of the existing tariff. The positive impact of the tariff will only become evident once the excessive import stocks that have built up prior to the increased tariff being implemented have been sold through the market and the supply/demand balance restored in the local market. The Sugar business unit will continue to focus on ways to reduce costs as well as investigate alternative applications to ensure the business" long-term sustainability. We expect volume recovery at Milling to continue and for initiatives implemented at Baking to start bearing fruit. Logistics will continue to seek new business and reduce costs. The various innovations in the business are positioning it favourably to recover from the volumes lost through Chicken"s restructure.

Our transformation into "ONE RCL FOODS" and the shared vision and commitment it has brought across all our businesses, has presented a host of synergies and opportunities that have exceeded our expectations. It has given us a solid platform from which to create value on our journey to building a food business with brands that matter.

2018-08-16

RCL - trading statement


Shareholders are advised that RCL FOODS expects that its headline earnings per share (“HEPS”) for the year ended June 2018 will be between 90.0 cents (+41.7%) and 100.0 cents (+57.5%) when compared to the reported HEPS of 63.5 cents for the year ended June 2017 (“corresponding period”).

Earnings per share (“EPS”) for the year ended June 2018 is expected to be between 100.0 cents (+67.5%) and 110.0 cents (+84.3%) when compared to the reported EPS of 59.7 cents for the corresponding period.

The improvement was driven by the recovery in the Chicken business unit, strong volume performances in the Dressings, Pet Food and Pies categories, lower interest costs and a tax credit related to a S12L energy efficiency allowance. Chicken benefited from the positive impact of the revised business model (lower commodity exposure) implemented in February 2017 and lower feed input costs, partially offset by the negative impacts of Avian Influenza and the Listeriosis crisis. The Sugar business unit has been adversely impacted by continued high levels of imports.

EPS for the year ended June 2018 is expected to be higher than HEPS largely due to profits from the sale of dormant farms, resulting from the implementation of the revised Chicken business model.

The Group's financial results for the year ended June 2018 are expected to be released on SENS on 28 August 2018.

2018-04-26

RCL FOODS LIMITED - Dealings in Share Appreciation Rights (SARs) and securities by a director


RCL 201804260059A
Dealings in Share Appreciation Rights (“SARs”) and securities by a director

RCL FOODS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1966/004972/06)
ISIN: ZAE000179438
Share Code: RCL
(“the Company”)

DEALINGS IN SHARE APPRECIATION RIGHTS (“SARs”) AND SECURITIES BY A DIRECTOR

The following transaction is disclosed in relation to SARs which
were awarded on 5 September 2012 and are due to expire on 5
September 2019. SARs award prices and exercise prices were
determined as the 5-day volume weighted average price (VWAP) as at
the respective award and exercise dates:

Director : R H Field
Company : RCL Foods Limited
Date of transaction : 20 April 2018
Nature of transaction : Off-market acceptance and
exercise of SARs which are
subsequently equity settled in
accordance with the RCL Foods
Limited Share Appreciation Rights
Scheme
Class of securities : SARs in respect of ordinary
shares
Number of SARs exercised : 123,586
SARs award price : R13.20
SARs exercise price : R18.90
Total gain on transaction : R704,440.20
Equivalent number of shares : 37,271
Nature of interest : Direct beneficial
Clearance obtained : Yes


Durban
26 April 2018

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 26/04/2018 03:00:00 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.

2018-04-18

RCL FOODS LIMITED - Dealings in securities by directors and company secretary


RCL 201804180052A
Dealings in securities by directors and company secretary

RCL FOODS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1966/004972/06)
ISIN: ZAE000179438
Share Code: RCL
(“the Company”)

DEALINGS IN SECURITIES BY DIRECTORS AND COMPANY SECRETARY

The following transaction is disclosed in compliance with the JSE
Limited Listings Requirements:

Director : RH Field
Company : RCL Foods Limited
Date of transaction : 12 April 2018
Nature of transaction : On market sale of securities
Class of securities : Ordinary shares
Number of securities : 42,590
Volume weighted average
selling price per share : R18.7265
Total value of transaction : R797,563.20
Highest trading price : R19.00
Lowest trading price : R18.50
Nature of interest : Direct beneficial
Clearance obtained : Yes

The following transactions are disclosed in relation to the
announcement published on SENS on 4 April 2018 with regard to
Share Appreciation Rights (SARs) exercised by participants in the
RCL Share Appreciation Rights Scheme:

Director : M Dally
Company : RCL Foods Limited
Date of transaction : 13 April 2018
Nature of transaction : On market sale of securities
Class of securities : Ordinary shares
Number of securities : 58,340
Selling price per share : R18.99
Total value of transaction : R1,107,868.80
Nature of interest : Direct beneficial
Clearance obtained : Yes

Company Secretary : J Maher
Company : RCL Foods Limited
Date of transaction : 13 April 2018
Nature of transaction : On market sale of securities
Class of securities : Ordinary shares
Number of securities : 2,115
Selling price per share : R18.99
Total value of transaction : R40,162.11
Nature of interest : Direct beneficial
Clearance obtained : Yes

Durban
18 April 2018

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 18/04/2018 03:00:00 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.

2018-04-12

RCL FOODS LIMITED - Dealings in securities by director and company secretary


RCL 201804120044A
Dealings in securities by director and company secretary

RCL FOODS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1966/004972/06)
ISIN: ZAE000179438
Share Code: RCL
("the Company")

DEALINGS IN SECURITIES BY DIRECTOR AND COMPANY SECRETARY

The following transactions are disclosed in relation to the
announcement published on SENS on 4 April 2018 with regard to
Share Appreciation Rights (SARs) exercised by participants in the
RCL Share Appreciation Rights Scheme:


Director : M Dally
Company : RCL Foods Limited
Date of transaction : 6 April 2018
Nature of transaction : On market sale of securities
Class of securities : Ordinary shares
Number of securities : 723
Selling price per share : R18.00
Total value of transaction : R13,003.49
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : M Dally
Company : RCL Foods Limited
Date of transaction : 9 April 2018
Nature of transaction : On market sale of securities
Class of securities : Ordinary shares
Number of securities : 88,162
Volume weighted average selling
price per share : R18.0166
Total value of transaction : R1,588,381.39
Highest trading price : R18.49
Lowest trading price : R18.00
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : M Dally
Company : RCL Foods Limited
Date of transaction : 10 April 2018
Nature of transaction : On market sale of securities
Class of securities : Ordinary shares
Number of securities : 28,632
Volume weighted average selling
price per share : R18.0936
Total value of transaction : R518,058.31
Highest trading price : R18.29
Lowest trading price : R18.00
Nature of interest : Direct beneficial
Clearance obtained : Yes
Company Secretary : J Maher
Company : RCL Foods Limited
Date of transaction : 6 April 2018
Nature of transaction : On market sale of securities
Class of securities : Ordinary shares
Number of securities : 26
Selling price per share : R18.00
Total value of transaction : R471.40
Nature of interest : Direct beneficial
Clearance obtained : Yes

Company Secretary : J Maher
Company : RCL Foods Limited
Date of transaction : 9 April 2018
Nature of transaction : On market sale of securities
Class of securities : Ordinary shares
Number of securities : 3,196
Volume weighted average selling
price per share : R18.0166
Total value of transaction : R57,581.50
Highest trading price : R18.49
Lowest trading price : R18.00
Nature of interest : Direct beneficial
Clearance obtained : Yes

Company Secretary : J Maher
Company : RCL Foods Limited
Date of transaction : 10 April 2018
Nature of transaction : On market sale of securities
Class of securities : Ordinary shares
Number of securities : 1,038
Volume weighted average selling
price per share : R18.0936
Total value of transaction : R18,780.49
Highest trading price : R18.29
Lowest trading price : R18.00
Nature of interest : Direct beneficial
Clearance obtained : Yes


Durban
12 April 2018

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 12/04/2018 04:27:00 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.

2018-04-06

RCL FOODS LIMITED - Dealings in securities by director and company secretary


RCL 201804060074A
Dealings in securities by director and company secretary

RCL FOODS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1966/004972/06)
ISIN: ZAE000179438
Share Code: RCL
(“the Company”)

DEALINGS IN SECURITIES BY DIRECTOR AND COMPANY SECRETARY

The following transactions are disclosed in relation to the
announcement published on SENS on 4 April 2018 with regard to
Share Appreciation Rights (SARs) exercised by participants in the
RCL Share Appreciation Rights Scheme:


Director : M Dally
Company : RCL Foods Limited
Date of transaction : 29 March 2018
Nature of transaction : On market sale of securities
Class of securities : Ordinary shares
Number of securities : 57,393
Volume weighted average selling
price per share : R18.0013
Total value of transaction : R1,033,142.25
Highest selling price : R18.04
Lowest selling price : R18.00
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : M Dally
Company : RCL Foods Limited
Date of transaction : 3 April 2018
Nature of transaction : On market sale of securities
Class of securities : Ordinary shares
Number of securities : 602
Selling price per share : R18.00
Total value of transaction : R10,843.41
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : M Dally
Company : RCL Foods Limited
Date of transaction : 4 April 2018
Nature of transaction : On market sale of securities
Class of securities : Ordinary shares
Number of securities : 344
Selling price per share : R18.00
Total value of transaction : R6,200.84
Nature of interest : Direct beneficial
Clearance obtained : Yes

Company Secretary : J Maher
Company : RCL Foods Limited
Date of transaction : 29 March 2018
Nature of transaction : On market sale of securities
Class of securities : Ordinary shares
Number of securities : 2,080
Volume weighted average selling
price per share : R18.0013
Total value of transaction : R37,453.15
Highest selling price : R18.04
Lowest selling price : R18.00
Nature of interest : Direct beneficial
Clearance obtained : Yes

Company Secretary : J Maher
Company : RCL Foods Limited
Date of transaction : 3 April 2018
Nature of transaction : On market sale of securities
Class of securities : Ordinary shares
Number of securities : 22
Selling price per share : R18.00
Total value of transaction : R393.09
Nature of interest : Direct beneficial
Clearance obtained : Yes

Company Secretary : J Maher
Company : RCL Foods Limited
Date of transaction : 4 April 2018
Nature of transaction : On market sale of securities
Class of securities : Ordinary shares
Number of securities : 13
Selling price per share : R18.00
Total value of transaction : R224.79
Nature of interest : Direct beneficial
Clearance obtained : Yes


Durban
6 April 2018

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 06/04/2018 05:49:00 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.

2018-04-04

RCL FOODS LIMITED - Dealings in share appreciation rights (SARs) and securities by directors and company secretary


RCL 201804040027A
Dealings in share appreciation rights (“SARs”) and securities by directors and company secretary

RCL FOODS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1966/004972/06)
ISIN: ZAE000179438
Share Code: RCL
(“the Company”)

DEALINGS IN SHARE APPRECIATION RIGHTS (“SARs”) AND SECURITIES BY
DIRECTORS AND COMPANY SECRETARY

The following transaction is disclosed in relation to SARs which
were awarded on 1 June 2011 and are due to expire on 1 June 2018.
SARs award prices and exercise prices were determined as the 5-day
volume weighted average price (VWAP) as at the respective award
and exercise dates:

Company Secretary : J Maher
Company : RCL Foods Limited
Date of transaction : 27 March 2018
Nature of transaction : Off-market acceptance and
exercise of SARs which are
subsequently equity settled in
accordance with the RCL Foods
Limited Share Appreciation Rights
Scheme
Class of securities : SARs in respect of ordinary
shares
Number of SARs exercised : 63,477
SARs award price : R16.45
SARs exercise price : R18.99
Total gain on transaction : R161,225.10
Equivalent number of shares : 8,490
Nature of interest : Direct beneficial
Clearance obtained : Yes

The following transaction is disclosed in relation to SARs which
were awarded on 5 September 2012 and are due to expire on 5
September 2019. SARs award prices and exercise prices were
determined as the 5-day volume weighted average price (VWAP) as at
the respective award and exercise dates:

Director : M Dally
Company : RCL Foods Limited
Date of transaction : 27 March 2018
Nature of transaction : Off-market acceptance and
exercise of SARs which are
subsequently equity settled in
accordance with the RCL Foods
Limited Share Appreciation Rights
Scheme
Class of securities : SARs in respect of ordinary
shares
Number of SARs exercised : 768,117
SARs award price : R13.20
SARs exercise price : R18.99
Total gain on transaction : R4,447,382.04
Equivalent number of shares : 234,196
Nature of interest : Direct beneficial
Clearance obtained : Yes

The following transactions are disclosed in compliance with the
JSE Limited Listings Requirements:

Director : RH Field
Company : RCL Foods Limited
Date of transaction : 27 March 2018
Nature of transaction : On market sale of securities
Class of securities : Ordinary shares
Number of securities : 37,470
Selling price : 20,905 at R18.80; 2,589 at
R18.81; 10,074 at R18.85; 1,769
at R18.86; 2,133 at R19.10
Total value of transaction : R705,711.63
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : RH Field
Company : RCL Foods Limited
Date of transaction : 28 March 2018
Nature of transaction : On market sale of securities
Class of securities : Ordinary shares
Number of securities : 3,434
Selling price : 3,423 at R18.70; 11 at R18.85
Total value of transaction : R64,217.45
Nature of interest : Direct beneficial
Clearance obtained : Yes


Durban
4 April 2018

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 04/04/2018 12:11:00 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.

2018-03-26

RCL - product recall and suspension of operations


On 5 March 2018 the Company announced on the Stock Exchange News Service that Rainbow polony products from the Wolwehoek processing plant were being recalled and that the plant had been temporarily closed, as precautionary measures due to the current listeriosis outbreak. The purpose of this announcement is to update shareholders with regard to the financial impact of the product recall and the suspension of operations at the Wolwehoek processing plant.

Estimates provided are on a pre-tax basis. They are management estimates only, and have not been reviewed or reported on by the Company's auditors. Potential insurance recoveries in respect of these costs are not expected to be significant. Identifiable costs incurred to date, associated directly with the recall and suspension of production, are estimated to be approximately R75m.

This estimate includes:
- Recalls and returns from customers
- Value of stock on hand of finished goods, raw materials and work-in- progress
- Logistics (distribution and handling) costs
- Destruction and dumping costs
- Testing costs
- Media and in-store communications costs

In addition, there is a financial impact associated with lost contribution on polony products being out of trade, as well as the unexpected impact on the balance of Rainbow's chilled processed meats and other chicken categories. This indirect impact is difficult to determine or quantify at this stage, but management estimates the profit impact to be approximately R20m per month. Management is actively engaging Government in order to resume operations at the Wolwehoek processing plant as soon as possible. Food safety has always been of paramount importance to RCL FOODS, and we continue to apply our strict food safety protocol by having rigorous food safety procedures in place, including regular product and environmental testing, at all of our food production facilities. We will continue to take every precaution to safeguard our products, customers and consumers and to drive and support national efforts with Government to resolve the current listeriosis challenge.

Shareholders are also referred to:
1. The RCL FOODS fact sheet available on the Company's website at www.rclfoods.com, which is aimed at assisting all stakeholders in understanding the facts at our disposal around listeriosis;
2. An independent website hosted by Dr Lucia Anelich at www.listeriosisfacts.co.za

2018-03-16

RCL - no ST6 listeria found at polony factory


The listeriosis outbreak has been a tragic episode for the country. RCL FOODS expresses our deepest concern and sympathy for those who have been affected.

RCL FOODS is pleased to state that the Wolwehoek polony plant in the Free State is clear of the ST6 listeria strain, which the Minister of Health has identified as being responsible for the outbreak of listeriosis.

Tests conducted by an independent laboratory in France, which is considered to be a leading expert in this field, have shown that the plant is clear of the ST6 listeria strain.

Rainbow polony products from the Wolwehoek plant were recalled as a precautionary measure and the plant has been temporarily closed. The recall does not affect any other RCL FOODS facilities or products, including fresh and frozen Rainbow chicken.

Listeria, which can cause food-borne diseases when present at high concentrations, is commonly found in soil and water and is easily transferred to surfaces in homes and buildings. It thrives in low temperatures, such as refrigeration, but is killed by cooking. Raw foods and vegetables should be washed thoroughly before eating.

The listeriosis outbreak has shown that more needs to be done to help consumers understand listeria and how they can protect themselves and their families. RCL FOODS will continue to support national efforts that take the message about food safety and listeria to as wide an audience as possible.

Food safety has always been of paramount importance to RCL FOODS. More than a decade ago we embarked on a process to implement internationally recognised and independently verified quality and food safety systems such as FSSC (Food Safety System Certification) 22000 and ISO 22000 in our facilities. RCL FOODS will continue to review and further entrench safety policies and procedures.

2018-03-05

RCL - statement regarding listeriosis outbreak


Stakeholders are referred to the media statement issued by the Minister of Health on 4 March 2018, relating to the recent outbreak of listeriosis in South Africa. In the media statement the Minister announced that it was concluded that the source of the current listeriosis outbreak was polony from a production facility in Polokwane, which is not owned by the Company.

The Minister further announced that an investigation of RCL FOODS' Wolwehoek production facility is also underway, where polony products have tested positive for L. monocytogenes, although the sequence types of the isolates are NOT ST6(being the sequence type of listeriosis that has driven the current outbreak). The National Consumer Commission has, however, issued precautionary safety recall notices for polony products from both of these facilities. RCL FOODS' board and management remain deeply concerned about this tragic outbreak, and its effect on many South Africans. It is being treated as a crisis internally, and a senior team is in contact with all relevant stakeholders to discuss the significant impacts of this issue.

RCL FOODS can confirm that its Wolwehoek processing plant has taken the pre- cautionary measure to suspend all production of RCL FOODS' Rainbow Polony brand. Additionally, it is in the process of recalling all Rainbow Polony products from its entire customer base. This is despite the fact that the results from testing of its environmental samples are still pending. In line with the Department of Health's (DoH) announcement, it must be highlighted that the specific strain of pathogen responsible for the outbreak has not been linked to the Wolwehoek facility. RCL FOODS is continuing its detailed discussions and is working closely with representatives from the DoH, the Department of Agriculture, Forests and Fisheries (DAFF), and the National Institute of Communicable Diseases (NICD). RCL FOODS is sharing all results from its testing, both internally and externally, with the relevant authorities.

In line with RCL FOODS' strict food safety protocol, the Company has rigorous food safety procedures in place which include our own regular product and environmental testing, and these have been further strengthened as a precautionary measure in recent months. Rigid controls remain in place to mitigate any food safety risks, including microbiological risks, at all of our food production facilities. RCL FOODS will continue to take every precaution to safeguard its products as well as its consumers.

All RCL FOODS facilities are FSSC (Food Safety System Certification) 22000 or ISO 22000 compliant. As part of RCL FOODS' Food Safety Management System (FSMS) the company follows strict procedures for pathogen management. These include but are not limited to:
*Hazard identification and Risk Assessments;
*Raw material management (SQA, Microbiological verification);
*Cleaning procedures;
*Procedures to prevent cross contamination; and
*RCL - staScheduled testing of products and processing environments.

Additional announcements will be made in due course.

Stakeholders should note that it has been stated on social media commentary that Enterprise forms part of RCL FOODS. RCL FOODS is not the owner of Enterprise and does not manufacture any of its products.

2018-03-02

RCL FOODS LIMITED - Dealings in share appreciation rights (SARs) and securities by directors


RCL 201803020079A
Dealings in share appreciation rights (“SARs”) and securities by directors

RCL FOODS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1966/004972/06)
ISIN: ZAE000179438
Share Code: RCL
(“the Company”)

DEALINGS IN SHARE APPRECIATION RIGHTS (“SARs”) AND SECURITIES BY
DIRECTORS

The following transactions are disclosed in relation to SARs which
were awarded on 1 June 2011 and are due to expire on 1 June 2018.
SARs award prices and exercise prices were determined as the 5-day
volume weighted average price (VWAP) as at the respective award
and exercise dates:

Director : RH Field
Company : RCL Foods Limited
Date of transaction : 26 February 2018
Nature of transaction : Off-market acceptance and
exercise of SARs which are
subsequently equity settled in
accordance with the RCL Foods
Limited Share Appreciation Rights
Scheme
Class of securities : SARs in respect of ordinary
shares
Number of SARs exercised : 364,999
SARs award price : R16.45
SARs exercise price : R17.49
Total gain on transaction : R379,585.47
Equivalent number of shares : 21,703
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : M Dally
Company : RCL Foods Limited
Date of transaction : 27 February 2018
Nature of transaction : Off-market acceptance and
exercise of SARs which are
subsequently equity settled in
accordance with the RCL Foods
Limited Share Appreciation Rights
Scheme
Class of securities : SARs in respect of ordinary
shares
Number of SARs exercised : 714,572
SARs award price : R16.45
SARs exercise price : R17.39
Total gain on transaction : R671,688.75
Equivalent number of shares : 38,625
Nature of interest : Direct beneficial
Clearance obtained : Yes

Durban
2 March 2018

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 02/03/2018 04:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ("JSE").
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2018-02-26

RCL interim results December 2017


Revenue for the interim period decreased to R12.765 billion (2016: R13.085 billion), operating profit before depreciation, amortisation and impairment (EBITDA) increased to R1.201 billion (2016: R900.4 million), operating profit jumped to R810.3 million (2016: R355.5 million), profit for the period attributable to equity holders of the company climbed to R663.4 million (2016: R321.7 million), while headline earnings per share grew to 74.5 cents per share (2016: 47.6 cents per share).

Dividend
The directors have resolved to declare an interim gross cash dividend (number 86) of 15 cents per share (2017: 10 cents per share).

Company outlook
We are cautiously optimistic that consumer spending has begun to improve, which should allow volumes to continue to recover from a low point. The poultry market continues to stabilise and Chicken is expected to continue its recovery. Groceries is ready to capitalise on the improved environment with a good pipeline of innovations to be rolled out over the next few months. Despite the recent tariff implementation, sugar imports remain a threat due to global surpluses and a strengthening rand. Millbake will continue to place focus on restoring volumes, although tough trading conditions are expected to persist. Animal Feed is expected to continue to benefit from lower commodity input prices and improved volumes as the impact of AI diminishes.

The recent political developments have been positive and provide optimism for growth within the South African economy. Markets have reacted favourably post the December political announcement, with rand strength and falling bond yields reflective of increasing investor confidence. Despite this, concrete plans and economic policies to revitalise our economy are yet to be enacted by government and the extent to which such plans can be implemented and their timeframe remain as uncertainties. We therefore expect the next six months to remain challenging.

Logistics" second half of the current financial year is expected to be an improvement over the corresponding period, which period already included the impact of reduced Chicken volumes. A continued focus on cost rationalisation and maintaining an appropriate cost base, coupled with new business opportunities, will deliver a more positive outlook for the remainder of the year.

We remain confident in our strategy and are making steady progress towards our goal of a diversified food portfolio, focused on adding higher margin, added value products and categories.

2018-02-23

RCL - board change


Shareholders are advised that Ms Cindy Joy Hess has been appointed as a non-executive director of the company, with effect from 23 February 2018.

2018-02-12

RCL - trading statement


Shareholders are advised that RCL FOODS expects that its headline earnings per share (“HEPS”) for the six months ended December 2017 is expected to be between 69.5 cents (+46.0%) and 79.0 cents (+66.0%) when compared to the reported HEPS of 47.6 cents for the six months ended December 2016 (“corresponding period”).

Earnings per share (“EPS”) for the six months ended December 2017 is expected to be between 72.0 cents (+93.5%) and 79.0 cents (+112.4%) when compared to the reported EPS of 37.2 cents for the corresponding period.

The corresponding period's financial results were impacted by the material once-off items listed below, which were detailed in the December 2016 results annoucement:
*An after-tax impairment of R102.7 million (excluded from headline earnings) relating to redundant plant and equipment identified following the decision to reduce commodity chicken volumes. The impact on EPS was a negative 11.9 cents.
*The recognition of a R37.4 million after-tax provision for restructuring costs and fair value adjustments on biological assets, also associated with the decision to reduce chicken volumes. The impact on HEPS and EPS was a negative 4.3 cents.
*A foreign exchange loss of R27.9 million (nil tax impact), relating to the settlement of the Zam Chick and Zamhatch options. The impact on HEPS and EPS was a negative 3.2 cents.

Excluding the above once-off items, HEPS for the six months ended December 2017 is expected to be between 69.5 cents (+26.1%) and 79.0 cents (+43.4%) when compared to the normalised HEPS of 55.1 cents for the corresponding period. Similarly, EPS for the six months ended December 2017 is expected to be between 72.0 cents (+27.2%) and 79.0 cents (+39.6%) when compared to the normalised EPS of 56.6 cents for the corresponding period.

The improvement in the underlying results over the corresponding period is mainly attributable to the Chicken business unit. Chicken benefitted from substantially lower feed input costs, higher IQF prices, and the positive impact of their revised business model implemented in the second half of the prior financial year, which focused on limiting the production of consequential commodity products. The Sugar business unit's result is materially down on the corresponding period, stemming from the negative impact that sugar imports have had on local market sales volumes.

Within the Groceries portfolio, margin and volume gains in Grocery and Pies offset volume pressure in the Speciality and Beverages business units. Lower commodity input prices assisted margins and drove an improved result for Animal Feed. Milling has made progress in regaining lost volumes, whilst labour issues disrupted progress in Baking.

The Logistics division's results are down on the corresponding period as a result of the reduced loads from the Chicken business unit following the implementation of their revised business model, however the implementation of various cost saving initatives have partially mitigated this impact. The Group's financial results for the six months ended December 2017 are expected to be released on SENS on 26 February 2018. The directors take responsibility for the financial information on which this trading statement is based, which has not been reviewed and reported on by the Group's external auditors.