Summary of updated findings
On 28 June 2016, Illovo Sugar was delisted from the JSE after Associated British Foods (already a major shareholder in Illovo Sugar) successfully acquired all of the ordinary shares issued in Illovo Sugar that it did not already own from minority institutional and private shareholders.1
Nevertheless, relevant updates have been added to the Full Disclosure 2015 findings, using, inter alia, Illovo Sugar’s 2015 Integrated Annual Report, in the sections Illovo Sugar’s disclosure of environmental non-compliances in annual reports and Environmental non-compliances reported by affected communities, the media & NGOs.
- https://www.illovosugar.co.za/Listed-Subsidiaries. For more information on the delisting, see: http://www.moneyweb.co.za/news/companies-and-deals/illovo-sugar-sticky-situation/ and https://www.illovosugar.co.za/UserContent/documents/Announcements/2016/Firm-Intention-Announcement.pdf (last accessed on 7 November 2016).