tongaat hulett board of directors

Posted on November 7, 2022 by

Tongaat shareholders approve its loan plan, but there's a long Tongaat scandal costs ex interim chief his (other) job. He had b Show more. Forecast Cash Runway: Insufficient data to determine if TON has enough cash runway if its free cash flow continues to grow or shrink based on historical rates. Tongaat Hulett makes a variety of refined carbohydrate products from sugar cane and maize through its sugar and starch businesses in Southern Africa. Thus, a long-term financial solution is required for Tongaat Huletts audited annual results to be finalized, which is largely dependent on key elements of the restructuring plan, it notes. Accelerating Growth: Unable to compare TON's earnings growth over the past year to its 5-year average as it is currently unprofitable. Therefore, the transaction cannot complete until such time as it has been finally determined whether or not a material adverse change has occurred. Von Zeuner, an independent non-executive directer appointed to the group's board in late 2018, will assume the role of chairman on October 1. Unless specified all financial data is based on a yearly period but updated quarterly. Graham is a Fellow of the Institute of Chartered Accountants in Australia and New Zealand and has a wealth of business experience in multiple jurisdictions including Malawi, Australia, Swaziland, South Africa, Zambia, Nigeria, Mauritius, and Fiji, amongst others. Lekki to unlock Nigeria's port potential Africa Tongaat Hulett Limited announced that Mr. Louis von Zeuner, the current chairman of the Company, has advised the Board that he is not available for re-election at the next Annual General Meeting due to a change in hispersonal circumstances. For this estimate we use a Discounted Cash Flow model. It said in a statement that Von Zeuner, who was chairperson and non-executive director of. Earnings Trend: Insufficient data to determine if TON's year-on-year earnings growth rate was positive over the past 5 years. Graham has extensive expertise in the sugar industry, having worked at Lonrho Sugar Corporation in Malawi and Swaziland (Group Chief Financial Officer), and served as Group Managing Director of Illovo Sugar Limited, Group Chief Executive Officer (CEO) of Dangote Sugar Refinery PLC, Group CEO of Fiji Sugar Corporation Limited and Chairman of London Sugar Group. to determine TON's volatility over the past 3 months. A former Deloitte partner has been charged with fraud following massive losses at Tongaat-Hulett. TONGAAT HULETT LIMITED. KLL Group will retain the management team and employees post the acquisition. Usain Bolt won 8 gold medals in 3 Olympics. Any advice contained in this website is general advice only and has been prepared without considering your objectives, financial situation or needs. The board of directors of Tongaat Hulett approved a proposed restructured plan for the company on Oct. 14, according to News 24. In a press release quoted by Notcias, Tongaat Hulett explains that most of the debt (about 87%) is supported by cash flows from South African sugar marketing operations, real estate and from operational support fees received from non-South African sugar works. However, it said its other operations would continue to trade uninterrupted. Tongaat Hulett: Appointment of an Independent Non-Executive Director. In July of this year, Tongaat Hulett, announced that it remains focused on the financial restructuring plan, which is subsequently to be presented to the Board of Directors for approval. The rescue action results from the fact that the company is still unable to settle a debt with some of its creditors. Full year 2021 results: Revenue: R14.9b (down 3.0% from FY 2020). It is believed that the approval of this plan will pave the way for improved liquidity levels and reduce Tongaat's debt to sustainable levels. Java Capital (Proprietary) Limited acted as independent expert for Independent Board of Tongaat Hulett. The board of directors of Tongaat Hulett Limited announced that Mr. GJ (Graham) Clark has been appointed as an independent non-executive director of the Company with effect from 21 April 2022. Total revenue was R16.9b over the last 12 months, down 3.7% from the prior year. CONTACT US CUSTOMER CARE If you have any complaints or queries or recommendations you are welcome to contact us on: Consumer Care Line on: 0860 784 277 huletts@consumercontactcentre.co.za www.tongaat.com TONGAAT HULETT SUGAR SOUTH AFRICA LTD KwaZulu-Natal Tongaat Hulett Sugar 444 South Coast Road Rossburgh, Durban PO Box 1501, Durban, 4000 Business Process Improvement Manager Tongaat Hulett Aug 2018 - Jan 2020 1 year 6 months. (Exco) and the board of directors. TON is not paying a notable dividend for the ZA market. Tongaat Hulett Limited will use the proceeds of the disposal to reduce the groups debt to more sustainable levels. In January this year Tongaat's shareholders gave it the greenlight to access new credit lines, which will help keep the company afloat for now. Forecasted Food, Beverage & Tobacco industry annual growth in earnings. Question 1 Agri-processing company Tongaat Hulett combines integrated elements of land management, real estate development, and agriculture. Braemar Trading Limited acquired an additional unknown minority stake in Tongaat Hulett Limited (JSE:TON) on February 24, 2021. The exit comes after talks to assure growers and staff they will be paid. 2022-11-04 -. He has been Chief Executive Officer at Tongaat Hulett Limited since February 01, 2019. TON is trading above our estimate of fair value. Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months. Graham has extensive expertise in the sugar industry, having worked at Lonrho Sugar Corporation in Malawi and Swaziland (Group Chief Financial Officer), and served as Group Managing Director of Illovo Sugar Limited, Group Chief Executive Officer (CEO) of Dangote Sugar Refinery PLC, Group CEO of Fiji Sugar Corporation Limited and Chairman of London Sugar Group. Learn more, See historical performance and comparison, Analyst forecast in 3 Years (Tongaat Hulett). www.news24.com. The four independent non-executive directors appointed at the time were Andile Sangqu; Linda De Beer; Jean Nel and Robin Goetzsche. How does TON's PS Ratio compare to its peers? John Gavin Hudson, Chief Executive Officer and Director Andile Sangqu, Independent Non-Executive Director Jean Nel, Independent Non-Executive Director Popular executive movements at Tongaat-Hulett Louis von Zeuner, Chairman of the Board, has left the company (posted on June 1 2022). Price-To-Sales vs Peers: TON is good value based on its Price-To-Sales Ratio (0x) compared to the peer average (0.4x). All five Tongaat Hulett nonexecutive directors have resigned just a week after the debt-laden sugar manufacturer went into business rescue. It has extensive experience in the production of biofuels, downstream agricultural products, and . As of May 12, 2020, Tongaat Hulett and Barloworld have not reached an agreement on whether there will be a material adverse change has occurred or not. The South African market is up 2.0% over the last 90 days, indicating the company outperformed over that time. Experienced Management: TON's management team is considered experienced (3.5 years average tenure). John's compensation has been consistent with company performance over the past year. Quality Earnings: TON is currently unprofitable. Tongaat Hulett Approves Capital Restructuring Plan - Read online for free. Net loss: R929.0m (loss widened 240% from FY 2020). Interim Independent Non-Executive Chairman. Mr Noko has served as lead Non-Executive Director on the Tongaat board since 1 July 2020 and is currently the Lead Independent Non-Executive Director. Tongaat Hulett Limited operates as an agriculture and agri-processing company in Zimbabwe, Mozambique, South Africa, Other SADC, North America, Europe and Middle East, and the Asia-Pacific. Unable to evaluate TON's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts. Is TON undervalued compared to its fair value, analyst forecasts and its price relative to the market? Mr Les Munro (former Finance Executive of Tongaat Hulett SA Sugar) Mr Murray Munro (former Chief Financial Officer of THL) Mr Raphael Pfunye (Zimbabwe Sugar Sales Finance Executive) Mr Sean Slabbert (former Finance Executive of THL) Mr Peter Staude (former Chief Executive Officer of THL). TROUBLED Tongaat Hulett, the sugar and property group, has announced it has entered business rescue due to its snowballing debt burden, and that it has been denied additional funding. An Independent Board of Tongaat Hulett Limited has been constituted. Total loss to shareholders of 91% over the past three years. Over the last 3 years on average, earnings per share has increased by 59% per year but the companys share price has fallen by 55% per year, which means it is significantly lagging earnings. ? What is Tongaat Hulett current dividend yield, its reliability and sustainability? Mr Nel previously indicated to the Board that he would step down as a director in the future, but that he would first assist and see through the finalisation and approval of the Capital Restructuring Plan, which was approved by the Board on 14 October 2022. On Thursday, the company revealed that its five remaining non-executive directors of Tongaat Hulett Andile Sangqu, David Noko, Louisa Stephens, Robin Goetzsche and Graham Clark had. The board of Tongaat Hulett Limited unanimously recommended its shareholders to vote in favor of the resolutions to be set out in general meeting. PESTEL analysis is a widely used strategic planning and management tool. Compensation vs Market: Insufficient data to establish whether John's total compensation is reasonable compared to companies of similar size in the ZA market. Mr. John Gavin Hudson serves as Non-Executive Director at Hippo Valley Estates Limited since August 01, 2020. The suspects are all currently out on bail. There are 7 new directors who have joined the board in the last 3 years. The directors of JSE-listed sugar producer Tongaat Hulett on Monday announced some changes to the board. Magister is led by Hamish Rudland, the brother of controversial tobacco tycoon Simon Rudland, who is a shareholder of Gold Leaf Tobacco. The company also provides white and brown sugar products under the Huletts, SunSweet, and Blue Crystal brands. This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors. About. In July of this year, Tongaat Hulett, announced that it remains focused on the financial restructuring plan, which is subsequently to be presented to the Board of Directors for approval. This has caused Tongaat not to release its results for the financial year, which began March 31 and ended July 31, as required by the Johannesburg Stock Exchange (JSE). It also outperformed the Food industry, which is up 6.0% over the same period. Journalism strengthens democracy. After last week's 16% share price gain to R10.00, the stock is trading at a trailing P/E ratio of 4.7x, up from the previous P/E ratio of 4x. It said in a statement that Von Zeuner, who was chairperson and non-executive director of. We live in a world where facts and fiction get blurred. ISIN ZAE000096541. In July of this year, Tongaat Hulett had announced that it remains focused on a financial restructuring plan, to be subsequently presented to the Board of Directors for approval. Release Date: 03/11/2022 16:00 Code(s): TON PDF: TON PDF: Last week Tongaat, led by CEO Gavin Hudson, said its board of directors had approved the capital restructuring plan. Tongaat board slammed for publishing restructuring plan its lenders knew nothing about Industry insider likens this to 'announcing your wedding' before proposing. The company is up 33% from its price of R5.18 on 21 August 2020. Subscribe to Fin24's newsletter here Tongaat Hulett Limited. 17th October 2022. You should not rely on any advice and/or information contained in this website and before making any investment decision we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice. High ROE: TON has a negative Return on Equity (-140.43%), as it is currently unprofitable. The Board has commenced a process of identifying a suitable replacement and shareholders will be advised as soon as such appointment has been made. Former Tongaat Hulett CEO Peter Staude and six others, some ex-directors, charged in a R1.5 billion fraud case involving the sugar producer have been granted R30 000 bail each. In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the companys ability to generate profit. 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tongaat hulett board of directors