2017-09-20

RCL FOODS - avian influenza announcement


RCL FOODS confirms that an outbreak of the highly pathogenic H5N8 strain of avian influenza (AI) has recently been detected at the company's Heuningdal breeder farm in the Western Cape, situated between Malmesbury and Darling, after also having experienced a small outbreak at our Viva breeder farm near Muldersdrift in Gauteng.

The affected sites have been depopulated, and the loss amounts to approximately 5% of the company's total breeder stock. The cumulative direct costs associated with AI amount to approximately R26m, and the company is evaluating all opportunities to minimise the possible impact of this reduced volume.

AI has been spreading across South Africa, with over 50 reported cases since June 2017. AI is not known to affect humans, so there is no concern from a chicken consumption perspective.

Although containing the spread of the virus is proving difficult in South Africa, RCL FOODS will continue to relentlessly implement the strictest possible biosecurity measures at all sites to safeguard the health of its flocks. RCL FOODS is also working closely with government and other authorities in this regard.

2017-08-29

RCL final results June 2017


Revenue decreased marginally by 0.3% to R24.9 billion (R25.0 billion). Operating profit increased to R776.5 million (R317.2 million). Profit attributable to equity holders was higher at R515.7 million (R182 million). Furthermore, headline earnings per share came in at 63.5 cents per share (96.5 cents per share).

Dividend
The directors have resolved to declare a final gross cash dividend (number 85) of 20 cents per share bringing the total dividend declared for the year ended June 2017 to 30 cents per share (2016: 30cents).

Prospects
RCL believe that economic growth will continue to be lacklustre in the coming year, which implies that demand will remain constrained, with flat to declining volumes. On the positive side, the record maize crop, as well as improved supply of other crops should help to restore margins and contribute to welcome price relief for consumers. The Chicken business unit is expected to achieve significant improvements in profitability relative to the past financial year, due to the revised business model as well as lower input costs. Production volumes in Sugar should improve on the back of renewed irrigation, although the increasing trend in sugar imports and its impact on local sugar prices remains a major concern and places Sugar"s 2018 performance at risk. Groceries has a good pipeline of innovations. A strong focus will also be placed on capitalising on opportunities that will become available as a result of the new plant and equipment coming into operation at the UHT and pet food plants.

Logistics will focus on operationalising the recent contract wins, pursuing further opportunities to replace the business that was lost through Chicken"s restructuring, and the implementation of a number of cost containment initiatives. In addition, the Logistics division will look to capitalise on its new brand positioning launched in June 2017, which reflects a spirit of innovation and a desire to "go beyond" simply logistics and supply chain. Further internal opportunities in synergies, overhead savings and production efficiencies that flow from our "ONE RCL FOODS" initiatives will continue to receive substantial focus. The outcome of the chicken industry"s crisis remains uncertain, but substantial work has been done between government and industry to find a sustainable solution. RCL 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.

2017-08-29

RCL final results June 2017


Revenue decreased marginally by 0.3% to R24.9 billion (R25.0 billion). Operating profit increased to R776.5 million (R317.2 million). Profit attributable to equity holders was higher at R515.7 million (R182 million). Furthermore, headline earnings per share came in at 63.5 cents per share (96.5 cents per share).

Dividend
The directors have resolved to declare a final gross cash dividend (number 85) of 20 cents per share bringing the total dividend declared for the year ended June 2017 to 30 cents per share (2016: 30 cents).

Prospects
RCL believe that economic growth will continue to be lacklustre in the coming year, which implies that demand will remain constrained, with flat to declining volumes. On the positive side, the record maize crop, as well as improved supply of other crops should help to restore margins and contribute to welcome price relief for consumers. The Chicken business unit is expected to achieve significant improvements in profitability relative to the past financial year, due to the revised business model as well as lower input costs. Production volumes in Sugar should improve on the back of renewed irrigation, although the increasing trend in sugar imports and its impact on local sugar prices remains a major concern and places Sugar"s 2018 performance at risk. Groceries has a good pipeline of innovations. A strong focus will also be placed on capitalising on opportunities that will become available as a result of the new plant and equipment coming into operation at the UHT and pet food plants.

Logistics will focus on operationalising the recent contract wins, pursuing further opportunities to replace the business that was lost through Chicken"s restructuring, and the implementation of a number of cost containment initiatives. In addition, the Logistics division will look to capitalise on its new brand positioning launched in June 2017, which reflects a spirit of innovation and a desire to "go beyond" simply logistics and supply chain. Further internal opportunities in synergies, overhead savings and production efficiencies that flow from our "ONE RCL FOODS" initiatives will continue to receive substantial focus. The outcome of the chicken industry"s crisis remains uncertain, but substantial work has been done between government and industry to find a sustainable solution. RCL 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.

2017-08-17

RCL - trading statement


Shareholders are advised that RCL FOODS expects that its headline earnings per share (“HEPS”) for the year ended June 2017 is expected to be between 57.5 cents (-41.6%) and 67.5 cents (-31.5%) when compared to the reported HEPS of 98.5 cents for the corresponding year ended June 2016.

Earnings per share (“EPS”) for the year ended June 2017 is expected to be between 57.0 cents (+133.6%) and 61.0 cents (+150.0%) when compared to the reported EPS of 24.4 cents for the corresponding year ended June 2016, largely related to the Milling impairment in the prior year referred to below.

Restatement of June 2016 results
The prior year results have been restated for the impact of the change in the accounting standards relating to the treatment of bearer plants (IAS16 and IAS41), which has reduced the reported June 2016 HEPS by 2.0 cents and EPS by 3.3 cents.

HEPS for the year ended June 2017 is expected to be between 57.5 cents (-40.4%) and 67.5 cents (-30.1%) when compared to the restated HEPS of 96.5 cents for the corresponding year ended June 2016.

EPS for the year ended June 2017 is expected to be between 57.0 cents (+170.1%) and 61.0 cents (+189.1%) when compared to the restated EPS of 21.1 cents for the corresponding year ended June 2016.

Material once-off items The financial results have been impacted by material once-off items in both the current and corresponding period, further details of which will be included in our results announcement to be released on SENS on 29 August 2017. These items relate to:
• Impairments in the current period of R123,8 million (post tax) in the Chicken business unit relating to redundant plant and equipment identified as part of the decision to reduce commodity chicken volumes and from the related decision to dispose of the Tzaneen chicken operation. The impairments are excluded from HEPS, whilst the impact on EPS is a negative 14.3 cents;
• The recognition in the current period of R37,4 million (post tax) in restructuring costs and fair value adjustments on biological assets, also associated with the decision to reduce chicken volumes. The impact on HEPS and EPS is a negative 4.3 cents;
• An insurance receipt in the current period relating to the Pongola silo which was damaged in July 2015, with R84,8 million (post tax) related to the assets portion of the claim and R20,8 million (post tax) relating to prior year business interruption. The impact on HEPS is a positive 2.4 cents and a positive 12.2 cents on EPS;
• A foreign exchange loss of R27,9 million relating to the settlement of the Zam Chick Ltd ("Zam Chick") and Zamhatch Ltd ("Zamhatch") options in the current year, with the prior year including a R67,7 million gain (R118,9 million headline earnings gain) related to the accounting for the exercise of the options. The impact on EPS and HEPS for the year ended June 2017 was a negative 3.2 cents. The impact on HEPS and EPS for the corresponding year ended June 2016 was a positive 13.8 cents and 7.8 cents respectively;
• The release of a R163,3 million provision in the prior year for uncertain taxation disputes raised as part of the Foodcorp acquisition. The impact on HEPS and EPS in the June 2016 results was a positive 18.9 cents;
• An impairment loss in the prior year of R568,5 million (post tax) relating to the Milling operation in the Sugar & Milling division. The impairment is excluded from HEPS, whilst the impact on EPS in the June 2016 results was a negative 65.9 cents.

Excluding the above once-off items, normalised HEPS for the year ended June 2017 is expected to be between 64.0 cents (+0.3%) and 74.0 cents (+16.0%) when compared to the restated normalised HEPS of 63.8 cents for the year ended June 2016.

The improvement in the underlying results over the corresponding year is attributable to the recovery in the Sugar business unit on the back of the higher industry pricing and better channel mix, as well as the turnaround within the Millbake business unit with the Gauteng bakeries returning to profitability.

As previously announced, RCL FOODS downsized its Chicken business unit to restore its profitability by limiting production of consequential commodity products. From 1 February 2017 the Chicken business unit's Hammarsdale operation was reduced to a single shift, thereby eliminating a portion of loss making IQF (Individually Quick Frozen) product. The new business model has shown positive early results, with the Chicken business unit expected to report an EBITDA profit for the year, after posting a trading loss in the interim results to December 2016.

The Group's financial results for the year ended June 2017 are expected to be released on SENS on 29 August 2017.

2017-04-28

RCL FOODS LIMITED - Acceptance by directors of conditional share awards in terms of the RCL Foods Limited conditional share plan


RCL 201704280056A
Acceptance by directors of conditional share awards in terms of the RCL Foods Limited conditional share plan

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

ACCEPTANCE BY DIRECTORS OF CONDITIONAL SHARE AWARDS IN TERMS OF THE RCL
FOODS LIMITED CONDITIONAL SHARE PLAN

As required in terms of the JSE Limited Listings Requirements, RCL Foods
Limited advises of the acceptance by directors of Conditional Shares
awarded to them in terms of the RCL Foods Limited Conditional Share Plan.
The Conditional Shares are subject to a 3-year vesting period, as well as
the fulfillment of employment and performance conditions.

Director : M Dally
Company : RCL Foods Limited
Date of transaction : 26 April 2017
Nature of transaction : Off-market acceptance of conditional
shares vesting in March 2020 subject
to the achievement of agreed targets
Class of securities : Ordinary shares
Number of conditional shares : 3,620,565
accepted
Total value of transaction* : R50,434,470.45
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : R H Field
Company : RCL Foods Limited
Date of transaction : 26 April 2017
Nature of transaction : Off-market acceptance of conditional
shares vesting in March 2020 subject
to the achievement of agreed targets
Class of securities : Ordinary shares
Number of conditional shares : 1,448,226
accepted
Total value of transaction* : R20,173,788.18
Nature of interest : Direct beneficial
Clearance obtained : Yes

*Using the 5-day volume weighted average price of R13.93 as at 28 April 2017


Durban
28 April 2017

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

Date: 28/04/2017 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.

2017-03-31

RCL FOODS LIMITED - Dealings in share appreciation rights (SARs) and securities by a director of a major subsidiary


RCL 201703310052A
Dealings in share appreciation rights (“SARs”) and securities by a director of a major subsidiary

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 OF A MAJOR SUBSIDIARY

The following transactions are disclosed in relation to SARs which
were awarded on 2 June 2010 and are due to expire on 2 June 2017.
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 : DS Pitman
Company : RCL Foods Consumer Pty Ltd, a
major subsidiary of the Company
Date of transaction : 27 March 2017
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 : 387,663
SARs award price : R14.73
SARs exercise price : R16.20
Total gain on transaction : R569,851.20
Equivalent number of shares : 35,176
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : DS Pitman
Company : RCL Foods Consumer Pty Ltd, a
major subsidiary of the Company
Date of transaction : 29 March 2017
Nature of transaction : On-market sale of shares
Number of shares : 35,176
Highest price traded : R15.30
Lowest price traded : R14.65
Volume weighted average price : R14.95
Total value of transaction : R525,952.17
Nature of interest : Direct beneficial
Clearance obtained : Yes


Durban
31 March 2017

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

Date: 31/03/2017 02:04:00 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.

2017-03-30

RCL FOODS LIMITED - Dealings in securities by a director and company secretary and directors of major subsidiaries


RCL 201703300050A
Dealings in securities by a director and company secretary and directors of major subsidiaries

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 A DIRECTOR AND COMPANY SECRETARY AND
DIRECTORS OF MAJOR SUBSIDIARIES

On 6th, 15th and 28th March the Company announced the off-market
acceptance and exercise of share appreciation rights by a director
and company secretary and directors of major subsidiaries. The
following transactions are disclosed in relation to the subsequent
on-market sale of the equivalent number of related securities.

Director : SB Heath
Company : RCL Foods Consumer Pty Ltd, a
major subsidiary of the Company
Date of transaction : 22 March 2017
Nature of transaction : On-market sale of shares
Number of shares : 30,513
Highest price traded : R16.01
Lowest price traded : R16.00
Volume weighted average price : R16.00
Total value of transaction : R488,209.92
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : M Dally
Company : RCL Foods Ltd
Date of transaction : 22 March 2017
Nature of transaction : On-market sale of shares
Number of shares : 56,300
Highest price traded : R16.01
Lowest price traded : R16.00
Volume weighted average price : R16.00
Total value of transaction : R900,803.56
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : M Clayton
Company : Vector Logistics Pty Ltd, a major
subsidiary of the Company
Date of transaction : 22 March 2017
Nature of transaction : On-market sale of shares
Number of shares : 2,673
Price : R16.01
Total value of transaction : R42,794.73
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : S Balidis
Company : RCL Foods Consumer Pty Ltd, a
major subsidiary of the Company
Date of transaction : 22 March 2017
Nature of transaction : On-market sale of shares
Number of shares : 3,327
Highest price traded : R16.01
Lowest price traded : R16.00
Volume weighted average price : R16.00
Total value of transaction : R53,232.86
Nature of interest : Direct beneficial
Clearance obtained : Yes


Director : SA Van Der Merwe
Company : RCL Foods Consumer Pty Ltd, a
major subsidiary of the Company
Date of transaction : 22 March 2017
Nature of transaction : On-market sale of shares
Number of shares : 2,749
Highest price traded : R16.01
Lowest price traded : R16.00
Volume weighted average price : R16.00
Total value of transaction : R43,984.71
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : WE Schwimmbacher
Company : RCL Foods Consumer Pty Ltd, a
major subsidiary of the Company
Date of transaction : 22 March 2017
Nature of transaction : On-market sale of shares
Number of shares : 16,571
Highest price traded : R16.01
Lowest price traded : R16.00
Volume weighted average price : R16.00
Total value of transaction : R265,140.27
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : DS Milne
Company : RCL Foods Consumer Pty Ltd, a
major subsidiary of the Company
Date of transaction : 22 March 2017
Nature of transaction : On-market sale of shares
Number of shares : 7,713
Highest price traded : R16.01
Lowest price traded : R16.00
Volume weighted average price : R16.00
Total value of transaction : R123,409.99
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : PD Cruickshank
Company : RCL Foods Sugar & Milling Pty
Ltd, a major subsidiary of the
Company
Date of transaction : 22 March 2017
Nature of transaction : On-market sale of shares
Number of shares : 4,696
Price : R16.00
Total value of transaction : R75,136.00
Nature of interest : Direct beneficial
Clearance obtained : Yes


Director : WA De Wet
Company : RCL Foods Sugar & Milling Pty
Ltd, a major subsidiary of the
Company
Date of transaction : 24 March 2017
Nature of transaction : On-market sale of shares
Number of shares : 32,217
Highest price traded : R16.10
Lowest price traded : R16.00
Volume weighted average price : R16.01
Total value of transaction : R515,754.15
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : CD Creed
Company : Vector Logistics Pty Ltd, a major
subsidiary of the Company
Date of transaction : 27 March 2017
Nature of transaction : On-market sale of shares
Number of shares : 19,674
Highest price traded : R16.01
Lowest price traded : R16.00
Volume weighted average price : R16.00
Total value of transaction : R314,808.74
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : S Pillay
Company : Vector Logistics Pty Ltd, a major
subsidiary of the Company
Date of transaction : 27 March 2017
Nature of transaction : On-market sale of shares
Number of shares : 5,727
Highest price traded : R16.01
Lowest price traded : R16.00
Volume weighted average price : R16.00
Total value of transaction : R91,639.20
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : PE Gibbons
Company : Vector Logistics Pty Ltd, a major
subsidiary of the Company
Date of transaction : 27 March 2017
Nature of transaction : On-market sale of shares
Number of shares : 6,165
Highest price traded : R16.01
Lowest price traded : R16.00
Volume weighted average price : R16.00
Total value of transaction : R98,647.75
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : RJ Matthews
Company : Vector Logistics Pty Ltd, a major
subsidiary of the Company
Date of transaction : 27 March 2017
Nature of transaction : On-market sale of shares
Number of shares : 7,237
Highest price traded : R16.01
Lowest price traded : R16.00
Volume weighted average price : R16.00
Total value of transaction : R115,801.10
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : TJ Harding
Company : RCL Foods Consumer Pty Ltd, a
major subsidiary of the Company
Date of transaction : 27 March 2017
Nature of transaction : On-market sale of shares
Number of shares : 27,599
Price : R16.00
Total value of transaction : R441,584.00
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : DS Tubb
Company : RCL Foods Consumer Pty Ltd, a
major subsidiary of the Company
Date of transaction : 27 March 2017
Nature of transaction : On-market sale of shares
Number of shares : 9,014
Price : R16.00
Total value of transaction : R144.224.00
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : D Naicker
Company : RCL Foods Consumer Pty Ltd, a
major subsidiary of the Company
Date of transaction : 29 March 2017
Nature of transaction : On-market sale of shares
Number of shares : 4,938
Highest price traded : R15.61
Lowest price traded : R15.60
Volume weighted average price : R15.60
Total value of transaction : R77,053.60
Nature of interest : Direct beneficial
Clearance obtained : Yes

Company Secretary : JMJ Maher
Company : RCL Foods Limited
Date of transaction : 29 March 2017
Nature of transaction : On-market sale of shares
Number of shares : 4,990
Highest price traded : R15.61
Lowest price traded : R15.60
Volume weighted average price : R15.60
Total value of transaction : R77,865.02
Nature of interest : Direct beneficial
Clearance obtained : Yes


Durban
30 March 2017

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

Date: 30/03/2017 04:58:00 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.

2017-03-28

RCL FOODS LIMITED - Dealings in share appreciation rights (SARs) by a director company secretary and directors of major subsidiaries


RCL 201703280035A
Dealings in share appreciation rights (“SARs”) by a director, company secretary and directors of major subsidiaries

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”) BY A DIRECTOR AND
COMPANY SECRETARY AND DIRECTORS OF MAJOR SUBSIDIARIES

The following transactions are disclosed in relation to SARs which
were awarded on 2 June 2010 and are due to expire on 2 June 2017.
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 : WA De Wet
Company : RCL Foods Sugar & Milling Pty
Ltd, a major subsidiary of the
Company
Date of transaction : 22 March 2017
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 : 300,332
SARs award price : R14.73
SARs exercise price : R16.50
Total gain on transaction : R531,580.50
Equivalent number of shares : 32,217
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : CD Creed
Company : Vector Logistics Pty Ltd, a major
subsidiary of the Company
Date of transaction : 22 March 2017
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 : 183,406
SARs award price : R14.73
SARs exercise price : R16.50
Total gain on transaction : R324,621.00
Equivalent number of shares : 19,674
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : S Pillay
Company : Vector Logistics Pty Ltd, a major
subsidiary of the Company
Date of transaction : 22 March 2017
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 : 53,396
SARs award price : R14.73
SARs exercise price : R16.50
Total gain on transaction : R94,495.50
Equivalent number of shares : 5,727
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : TJ Harding
Company : RCL Foods Consumer Pty Ltd, a
major subsidiary of the Company
Date of transaction : 22 March 2017
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 : 257,279
SARs award price : R14.73
SARs exercise price : R16.50
Total gain on transaction : R455,383.50
Equivalent number of shares : 27,599
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : PE Gibbons
Company : Vector Logistics Pty Ltd, a major
subsidiary of the Company
Date of transaction : 23 March 2017
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 : 58,657
SARs award price : R14.73
SARs exercise price : R16.46
Total gain on transaction : R101,475.90
Equivalent number of shares : 6,165
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : DS Tubb
Company : RCL Foods Consumer Pty Ltd, a
major subsidiary of the Company
Date of transaction : 23 March 2017
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 : 38,063
SARs award price : R14.73
SARs exercise price : R16.46
Total gain on transaction : R 65,840.00
Equivalent number of shares : 4,000
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : RJ Matthews
Company : Vector Logistics Pty Ltd, a major
subsidiary of the Company
Date of transaction : 23 March 2017
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 : 68,860
SARs award price : R14.73
SARs exercise price : R16.46
Total gain on transaction : R119,121.02
Equivalent number of shares : 7,237
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : RH Field
Company : RCL Foods Limited
Date of transaction : 23 March 2017
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 : 431,618
SARs award price : R14.73
SARs exercise price : R16.46
Total gain on transaction : R746,691.44
Equivalent number of shares : 45,364
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : D Naicker
Company : RCL Foods Consumer Pty Ltd, a
major subsidiary of the Company
Date of transaction : 24 March 2017
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 : 47,479
SARs award price : R14.73
SARs exercise price : R16.44
Total gain on transaction : R81,180.72
Equivalent number of shares : 4,938
Nature of interest : Direct beneficial
Clearance obtained : Yes

Company Secretary : JMJ Maher
Company : RCL Foods Limited
Date of transaction : 24 March 2017
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 : 47,975
SARs award price : R14.73
SARs exercise price : R16.44
Total gain on transaction : R82,035.60
Equivalent number of shares : 4,990
Nature of interest : Direct beneficial
Clearance obtained : Yes

The following transaction is disclosed in relation to SARs which
were awarded subsequent to 2 June 2010 and are not due to expire
within the next two years. SARs award prices and exercise prices
were similarly determined as the 5-day volume weighted average
price (VWAP) as at the respective award and exercise dates:

Director : DS Tubb
Company : RCL Foods Consumer Pty Ltd, a
major subsidiary of the Company
Date of transaction : 23 March 2017
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 : 25,320
SARs award price : R13.20
SARs exercise price : R16.46
Total gain on transaction : 82,530.44
Equivalent number of shares : 5,014
Nature of interest : Direct beneficial
Clearance obtained : Yes


Durban
28 March 2017

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

Date: 28/03/2017 04:14:00 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.

2017-03-22

RCL FOODS LIMITED - Dealing in securities by a director of a major subsidiary


RCL 201703220025A
Dealing in securities by a director of a major subsidiary

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

DEALING IN SECURITIES BY A DIRECTOR OF A MAJOR SUBSIDIARY

In compliance with the JSE Limited Listings Requirements, the following
information is disclosed:


Director : W A De Wet
Company : RCL Foods Sugar & Milling(Pty) Ltd
Date of transaction : 16 March 2017
Nature of transaction : On-market sale of shares
Class of securities : Ordinary shares
Number of shares sold : 50,000 at R16.60 and 50,000 at 16.75
Total value of transaction : R1,667,500
Nature of interest : Direct beneficial
Clearance obtained : Yes


Durban
22 March 2017

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

Date: 22/03/2017 03:41:00 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.

2017-03-15

RCL FOODS LIMITED - Dealings in share appreciation rights (SARs) by directors of a major subsidiary


RCL 201703150046A
Dealings in share appreciation rights (“SARs”) by directors of a major subsidiary

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”) BY DIRECTORS OF A
MAJOR SUBSIDIARY

The following transactions are disclosed in relation to SARs which
were awarded on 2 June 2010 and are due to expire on 2 June 2017.
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 : S Balidis
Company : RCL Foods Consumer Pty Ltd, a
major subsidiary of the Company
Date of transaction : 10 March 2017
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 : 46,708
SARs award price : R14.73
SARs exercise price : R15.86
Total gain on transaction : R52,766.22
Equivalent number of shares : 3,327
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : DS Milne
Company : RCL Foods Consumer Pty Ltd, a
major subsidiary of the Company
Date of transaction : 13 March 2017
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 : 98,604
SARs award price : R14.73
SARs exercise price : R15.98
Total gain on transaction : R123,253.74
Equivalent number of shares : 7,713
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : SA Van Der Merwe
Company : RCL Foods Consumer Pty Ltd, a
major subsidiary of the Company
Date of transaction : 13 March 2017
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 : 35,153
SARs award price : R14.73
SARs exercise price : R15.98
Total gain on transaction : R43,929.02
Equivalent number of shares : 2,749
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : WE Schwimmbacher
Company : RCL Foods Consumer Pty Ltd, a
major subsidiary of the Company
Date of transaction : 15 March 2017
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 : 67,621
SARs award price : R14.73
SARs exercise price : R16.02
Total gain on transaction : R87,228.90
Equivalent number of shares : 5,445
Nature of interest : Direct beneficial
Clearance obtained : Yes

The following transaction is disclosed in relation to SARs which
were awarded subsequent to 2 June 2010 and are not due to expire
within the next two years. SARs award prices and exercise prices
were similarly determined as the 5-day volume weighted average
price (VWAP) as at the respective award and exercise dates:

Director : WE Schwimmbacher
Company : RCL Foods Consumer Pty Ltd, a
major subsidiary of the Company
Date of transaction : 15 March 2017
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 : 78,023
SARs award price : 28,294 at R13.20; 49,729 at R14.04
SARs exercise price : R16.02
Total gain on transaction : R178,238.52
Equivalent number of shares : 11,126
Nature of interest : Direct beneficial
Clearance obtained : Yes


Durban
15 March 2017

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

Date: 15/03/2017 05:18:00 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.

2017-03-14

RCL FOODS LIMITED - Dealing in securities by a director of a major subsidiary


RCL 201703140050A
Dealing in securities by a director of a major subsidiary

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

DEALING IN SECURITIES BY A DIRECTOR OF A MAJOR SUBSIDIARY

In compliance with the JSE Limited Listings Requirements, the following information is
disclosed:


Director : D S Pitman
Company : RCL Foods Consumer (Pty) Ltd
Date of transaction : 13 March 2017
Nature of transaction : Off market delivery of conditional shares and
subsequent on-market sale of shares
Class of securities : Ordinary shares
Number of conditional shares delivered and : 359,837
sold
Selling price per share : R16.00
Total value of transaction : R5,757,392.00
Nature of interest : Direct beneficial
Clearance obtained : Yes


Durban
14 March 2017

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

Date: 14/03/2017 05:03:00 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.

2017-03-06

RCL FOODS LIMITED - Dealings in share appreciation rights (SARs) by a director and directors of major subsidiaries


RCL 201703060046A
Dealings in share appreciation rights (“SARs”) by a director and directors of major subsidiaries

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”) BY A DIRECTOR AND
DIRECTORS OF MAJOR SUBSIDIARIES

The following transactions are disclosed in relation to SARs which
were awarded on 2 June 2010 and are due to expire on 2 June 2017.
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 : S B Heath
Company : RCL Foods Consumer Pty Ltd, a
major subsidiary of the Company
Date of transaction : 28 February 2017
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 : 237,131
SARs award price : R14.73
SARs exercise price : R15.51
Total gain on transaction : R184,956.75
Equivalent number of shares : 11,925
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : M Clayton
Company : Vector Logistics Pty Ltd, a major
subsidiary of the Company
Date of transaction : 28 February 2017
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 : 53,170
SARs award price : R14.73
SARs exercise price : R15.51
Total gain on transaction : R41,458.23
Equivalent number of shares : 2,673
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : P D Cruickshank
Company : RCL Foods Sugar & Milling Pty
Ltd, a major subsidiary of the
Company
Date of transaction : 1 March 2017
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 : 77,517
SARs award price : R14.73
SARs exercise price : R15.68
Total gain on transaction : R73,633.28
Equivalent number of shares : 4,696
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : M Dally
Company : RCL Foods Limited
Date of transaction : 1 March 2017
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 : 929,256
SARs award price : R14.73
SARs exercise price : R15.68
Total gain on transaction : R882,784.00
Equivalent number of shares : 56,300
Nature of interest : Direct beneficial
Clearance obtained : Yes

The following transactions are 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 : S B Heath
Company : RCL Foods Consumer Pty Ltd, a
major subsidiary of the Company
Date of transaction : 28 February 2017
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 : 124,810
SARs award price : R13.20
SARs exercise price : R15.51
Total gain on transaction : R288,299.88
Equivalent number of shares : 18,588
Nature of interest : Direct beneficial
Clearance obtained : Yes


Durban
6 March 2017

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

Date: 06/03/2017 03:47:00 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.

2017-02-24

RCL FOODS -dividend withholding tax rate amendment


Shareholders are referred to the announcement released on the Stock Exchange News Service on 23 February 2017 in which they were advised, inter alia, that the board of directors had resolved to declare an interim gross cash dividend of 10,0 cents per share to shareholders recorded in the register of the company on 21 April 2017.

Shareholders are now advised that, consequent to the announcement by the Minister of Finance of an increase in the dividend withholding tax (“DWT”) rate from 15% to 20%, in his budget speech of 22 February 2017, the DWT applicable to the gross cash dividend to be paid to shareholders who are not exempt from DWT is 20%.

The net dividend amount is accordingly 8.0 cents per share and not 8.5 cents per share, as previously announced. The remainder of the announcement is unaffected.

2017-02-23

RCL FOODS interim results December 2016


Revenue for the interim period increased to R13.1 billion (2015: R12.9 billion). Operating profit before depreciation, amortisation and impairment (EBITDA) decreased to R900.4 million (2015: R1.2 billion), operating profit lowered to R355.5 million (2015: R761.3 million), while profit for the period attributable to equity holders of the company dropped to R321.7 million (2015: R736.7 million). Furthermore, headline earnings per share dropped at 47.6 cents per share (2015: 86.2 cents per share).

Dividend
The directors have resolved to declare an interim gross cash dividend (number 84) of 10.0 cents per share for the six months ended 31 December 2016 (H1 2016: 15.0 cents).

Prospects
RCL FOODS expects demand, and therefore volumes, to remain constrained. As a result, synergies, overhead savings and production efficiencies will continue to receive substantial focus. The group has a good pipeline of innovations across a number of product categories, designed to drive further market share gains. Within the Sugar business unit, rainfall, industry pricing and import levels remain key drivers of profitability for H2 2017.

The outcome of the chicken industry"s crisis remains uncertain, but the group is satisfied that the South African Government is aware of the enormity of the matter, and the group has taken substantial corrective action to safeguard the business. The Hammarsdale downsizing will impact on the Animal Feed and Logistics business units" second half results.

The group remains confident in its strategy and are making steady progress towards our goal of a diversified portfolio, focused on adding higher margin, added value products and categories. This set of results was characterised by significant external pressures.

2017-01-31

RCL FOODS - business update & trading statement


RCL FOODS' financial results for the six months ended 31 December 2016 will be materially impacted by the severe challenges faced by the local chicken industry due to dumped imports and high feed input costs. Excluding RCL FOODS' Chicken business unit performance, the balance of the Group will show trading profit growth over the comparable period. The Sugar business unit has shown improvement on the back of the higher industry pricing and better channel mix. The turnaround within the Millbake business unit has progressed well with the Gauteng bakeries returning to profitability. Certain key brands within the Groceries business unit have continued to grow volumes in a competitive market environment.

RCL FOODS released a SENS (“Stock Exchange News Service”) announcement on 27 September 2016 announcing its intention to downsize its Chicken business unit to restore its profitability by limiting production of consequential commodity products but continuing to grow the demand-driven portfolio, largely comprising the foodservice market. The Chicken business unit has initiated a programme to reduce its Hammarsdale operations to a single shift, thereby eliminating a portion of loss making IQF (Individually Quick Frozen) product. Before consideration of the once off costs referred to below, the Chicken business unit is expected to record a loss for the first six months of the financial year.

Trading statement
Shareholders are advised that RCL FOODS expects that its headline earnings per share (“HEPS”) for the six months ended 31 December 2016 is expected to be between 40.0 cents (-54.1%) and 55.0 cents (-36.9%) when compared to reported HEPS of 87.2 cents for the corresponding six months ended 31 December 2015.

Earnings per share (“EPS”) for the six months ended 31 December 2016 is expected to be between 30.0 cents (-65.3%)and 45.0 cents (-48.0%) when compared to reported EPS of 86.5 cents for the corresponding six months ended 31 December 2015.

The interim financial results for the six months ended 31 December 2016 have been impacted by three material abnormal items, namely:
- An after-tax impairment of R102.7 million (excluded from headline earnings) for redundant plant and equipment related to the decision to reduce commodity chicken volumes. The impact on EPS is 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 is a negative 4.3 cents.
- A foreign exchange loss of R27.9 million (nil tax impact), as a result of Rand:Dollar appreciation, relating to the settlement of the Zam Chick and Zamhatch options. The impact on HEPS and EPS is a negative 3.2 cents.

As previously reported, the results for the corresponding six months ended 31 December 2015 were materially impacted by the release of a R163.3 million provision for uncertain taxation disputes raised as part of the Foodcorp acquisition. The release had no cashflow impact. The impact on HEPS and EPS in the 31 December 2015 results was a positive 18.9 cents.

The results for the six months ended 31 December 2016 include a negative after-tax IAS39 period on period movement of R56.4 million (HEPS and EPS impact of 6.5 cents) relating to the Group's raw material procurement strategy. This impact is largely attributable to the strengthening of the rand exchange rate.

The Group's interim financial results for the period ended 31 December 2016 are expected to be released on SENS on 23 February 2017.

2016-11-08

RCL - report on proceedings at the AGM


At the 50th (fiftieth) annual general meeting (“AGM”) of the shareholders of RCL FOODS held today, 8 November 2016, all the ordinary and special resolutions proposed at the meeting were approved by the requisite majority of votes. The special resolution/s will, where necessary, be lodged for registration with the Companies and Intellectual Property Commission in due course.

2016-11-08

RCL FOODS - report on proceedings at the AGM


At the 50th (fiftieth) annual general meeting (“AGM”) of the shareholders of RCL FOODS held today, 8 November 2016, all the ordinary and special resolutions proposed at the meeting were approved by the requisite majority of votes. The special resolution/s will, where necessary, be lodged for registration with the Companies and Intellectual Property Commission in due course.

2016-10-14

RCL FOODS LIMITED - Dealings in securities by directors of a major subsidiary


RCL 201610140046A
Dealings in securities by directors of a major subsidiary

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

DEALINGS IN SECURITIES BY DIRECTORS OF A MAJOR SUBSIDIARY

In compliance with the JSE Limited Listings Requirements, the following
information is disclosed:

Director : S Van Der Merwe
: RCL Foods Consumer (Pty) Ltd (a
major subsidiary of RCL Foods
Limited)
Date of transaction : 12 October 2016
Nature of transaction : On market sale of securities
Class of securities : Ordinary shares
Number of shares : 612
Selling price : R12.80
Total value of transaction : R7,833.60
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : S Balidis
: RCL Foods Consumer (Pty) Ltd (a
major subsidiary of RCL Foods
Limited)
Date of transaction : 12 October 2016
Nature of transaction : On market sale of securities
Class of securities : Ordinary shares
Number of shares : 1,293
Selling price : R12.80
Total value of transaction : R16,550.40
Nature of interest : Direct beneficial
Clearance obtained : Yes


Durban
14 October 2016

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

Date: 14/10/2016 04:30:00 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.

2016-10-13

RCL FOODS LIMITED - Dealings in securities by a director of a major subsidiary


RCL 201610130045A
Dealings in securities by a director of a major subsidiary

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

DEALINGS IN SECURITIES BY A DIRECTOR OF A MAJOR SUBSIDIARY

In compliance with the JSE Limited Listings Requirements, the following
information is disclosed:

Director : D Milne
: RCL Foods Consumer (Pty) Ltd (a
major subsidiary of RCL Foods
Limited)
Date of transaction : 11 October 2016
Nature of transaction : On market sale of securities
Class of securities : Ordinary shares
Number of shares : 2,081
Selling price : R12.90
Total value of transaction : R26,844.90
Nature of interest : Direct beneficial
Clearance obtained : Yes



Durban
13 October 2016

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

Date: 13/10/2016 05:00:00 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.

2016-10-07

RCL FOODS LIMITED - Dealings in securities by directors and by the company secretary of major subsidiaries


RCL 201610070020A
Dealings in securities by directors and by the company secretary of major subsidiaries

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

DEALINGS IN SECURITIES BY DIRECTORS AND BY THE COMPANY SECRETARY OF MAJOR
SUBSIDIARIES

In compliance with the JSE Limited Listings Requirements, the following
information is disclosed:

Director : P D Cruickshank
: RCL Foods Sugar & Milling (Pty) Ltd
(a major subsidiary of RCL Foods
Limited)
Date of transaction : 4 October 2016
Nature of transaction : On market sale of securities
Class of securities : Ordinary shares
Number of shares : 10,659
Selling price : R14.30
Total value of transaction : R152,423.70
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : P D Cruickshank
Company : RCL Foods Sugar & Milling(Pty) Ltd (a
major subsidiary of RCL Foods Limited)
Date of transaction : 4 October 2016
Nature of transaction : On market sale of securities
Class of securities : Ordinary shares
Number of shares : 3,359
Selling price : R14.30
Total value of transaction : R48,033.70
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : S B Heath
Company : RCL Group Services(Pty) Ltd (a major
subsidiary of RCL Foods Limited)
Date of transaction : 4 October 2016
Nature of transaction : On market sale of securities
Class of securities : Ordinary shares
Number of shares : 9,388
Selling price : R14.30
Total value of transaction : R134,248.40
Nature of interest : Direct beneficial
Clearance obtained : Yes

Company Secretary : J M J Maher
Company : RCL Group Services(Pty) Ltd (a major
subsidiary of RCL Foods Limited)
Date of transaction : 4 October 2016
Nature of transaction : On market sale of securities
Class of securities : Ordinary shares
Number of shares : 602
Selling price : R14.20
Total value of transaction : R8,548.40
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : W E Schwimmbacher
Company : RCL Group Services(Pty) Ltd (a major
subsidiary of RCL Foods Limited)
Date of transaction : 4 October 2016
Nature of transaction : On market sale of securities
Class of securities : Ordinary shares
Number of shares : 1,378
Selling price : R14.20
Total value of transaction : R19,567.60
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : D S Pitman
Company : RCL Foods Consumer(Pty) Ltd (a major
subsidiary of RCL Foods Limited)
Date of transaction : 5 October 2016
Nature of transaction : On market sale of securities
Class of securities : Ordinary shares
Number of shares : 10,616
Selling price : R14.20
Total value of transaction : R150,747.20
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : P E Gibbons
Company : Vector Logistics(Pty) Ltd (a major
subsidiary of RCL Foods Limited)
Date of transaction : 5 October 2016
Nature of transaction : On market sale of securities
Class of securities : Ordinary shares
Number of shares : 1,375
Selling price : R14.20
Total value of transaction : R19,525.00
Nature of interest : Direct beneficial
Clearance obtained : Yes


Durban
7 October 2016

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

Date: 07/10/2016 11:52:00 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.

2016-10-05

RCL FOODS LIMITED - Dealings in share appreciation rights (SARs) by a director


RCL 201610050038A
Dealings in share appreciation rights (“SARs”) 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”) BY A DIRECTOR

The following transaction is disclosed in relation to SARs which
were awarded on 5 September 2012. SARs award prices and exercise
prices were determined as the 5-day VWAP as at the respective
award and exercise dates:

Director : P D Cruickshank
Company : RCL Foods Sugar & Milling Pty
Ltd, a major subsidiary of the
Company
Date of transaction : 28 September 2016
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 : 96,457
SARs award price : R13.20
SARs exercise price : R14.84
Total gain on transaction : 158,189.48
Equivalent number of shares : 10,659
Nature of interest : Direct beneficial
Clearance obtained : Yes


Durban
05 October 2016

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

Date: 05/10/2016 04:31:00 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.

2016-09-30

RCL FOODS - no change statement and AGM notice


With regard to the audited results for the year ended 30 June 2016, shareholders are advised that the annual financial statements have been distributed to shareholders on 30 September 2016 and contain no modifications to the audited results which were published on SENS on 30 August 2016.

Notice of the annual general meeting
Notice is hereby given that the 50th annual general meeting of RCL FOODS shareholders will be held at Westville on 8 November 2016 at 08h30 to transact the business as stated in the annual general meeting notice forming part of the annual financial
statements.

Salient dates
The notice of the company's annual general meeting has been sent to its shareholders who were recorded as such in the company's securities register on Friday, 23 September 2016 being the notice record date set by the board of the company determining which shareholders are entitled to receive notice of the annual general meeting.

The record date on which shareholders of the company must be registered as such in the company's securities register in order to attend and vote at the annual general meeting is Friday, 28 October 2016 being the voting record date set by the board of the company determining which shareholders are entitled to attend and vote at the annual general meeting. The last day to trade in order to be entitled to vote at the annual general meeting will therefore be Tuesday, 25 October 2016. Proxy forms must be lodged by no later than 08h30 on Friday, 4 November 2016. Any forms of proxy not lodged by this time must be handed to the chairperson of the annual general meeting immediately prior to the annual general meeting.



2016-09-30

RCL FOODS - no change statement and AGM notice


With regard to the audited results for the year ended 30 June 2016, shareholders are advised that the annual financial statements have been distributed to shareholders on 30 September 2016 and contain no modifications to the audited results which were published on SENS on 30 August 2016.

Notice of the annual general meeting
Notice is hereby given that the 50th annual general meeting of RCL FOODS Ltd. shareholders will be held at Westville on 8 November 2016 at 08h30 to transact the business as stated in the annual general meeting notice forming part of the annual financial
statements.

Salient dates
The notice of the company's annual general meeting has been sent to its shareholders who were recorded as such in the company's securities register on Friday, 23 September 2016 being the notice record date set by the board of the company determining which shareholders are entitled to receive notice of the annual general meeting.

The record date on which shareholders of the company must be registered as such in the company's securities register in order to attend and vote at the annual general meeting is Friday, 28 October 2016 being the voting record date set by the board of the company determining which shareholders are entitled to attend and vote at the annual general meeting. The last day to trade in order to be entitled to vote at the annual general meeting will therefore be Tuesday, 25 October 2016. Proxy forms must be lodged by no later than 08h30 on Friday, 4 November 2016. Any forms of proxy not lodged by this time must be handed to the chairperson of the annual general meeting immediately prior to the annual general meeting.



2016-09-29

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


RCL 201609290052A
Dealings in share appreciation rights (“SARs”) 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") BY DIRECTORS AND
COMPANY SECRETARY

The following transactions are disclosed in relation to SARs which
were awarded on 1 August 2009 and are due to expire on 29 October
2016. SARs award prices and exercise prices were determined as the
5-day VWAP as at the respective award and exercise dates:


Director : D S Pitman
Company : RCL Foods Consumer Pty Ltd, a
major subsidiary of the Company
Date of transaction : 23 September 2016
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 : 469,679
SARs award price : R14.27
SARs exercise price : R14.60
Total gain on transaction : R154,994.07
Equivalent number of shares : 10,616
Nature of interest : Direct beneficial
Clearance obtained : Yes


Director : S Balidis
Company : RCL Foods Consumer Pty Ltd, a
major subsidiary of the Company
Date of transaction : 23 September 2016
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 : 57,236
SARs award price : R14.27
SARs exercise price : R14.60
Total gain on transaction : R18,887.88
Equivalent number of shares : 1,293
Nature of interest : Direct beneficial
Clearance obtained : Yes


Director : S A Van Der Merwe
Company : RCL Foods Consumer Pty Ltd, a
major subsidiary of the Company
Date of transaction : 23 September 2016
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 : 27,115
SARs award price : R14.27
SARs exercise price : R14.60
Total gain on transaction : R8,947.95
Equivalent number of shares : 612
Nature of interest : Direct beneficial
Clearance obtained : Yes


Director : C D Creed
Company : Vector Logistics Pty Ltd, a major
subsidiary of the Company
Date of transaction : 23 September 2016
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 : 91,044
SARs award price : R14.27
SARs exercise price : R14.60
Total gain on transaction : R30,044.52
Equivalent number of shares : 2,057
Nature of interest : Direct beneficial
Clearance obtained : Yes


Director : W E Schwimmbacher
Company : RCL Foods Consumer Pty Ltd, a
major subsidiary of the Company
Date of transaction : 26 September 2016
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 : 37,813
SARs award price : R14.27
SARs exercise price : R14.81
Total gain on transaction : R20,419.02
Equivalent number of shares : 1,378
Nature of interest : Direct beneficial
Clearance obtained : Yes


Director : S B Heath
Company : RCL Foods Consumer Pty Ltd, a
major subsidiary of the Company
Date of transaction : 27 September 2016
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 : 248,635
SARs award price : R14.27
SARs exercise price : R14.83
Total gain on transaction : R139,235.60
Equivalent number of shares : 9,388
Nature of interest : Direct beneficial
Clearance obtained : Yes


Director : W A De Wet
Company : RCL Foods Sugar & Milling Pty
Ltd, a major subsidiary of the
Company
Date of transaction : 27 September 2016
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 : 212,421
SARs award price : R14.27
SARs exercise price : R14.83
Total gain on transaction : R118,955.76
Equivalent number of shares : 8,021
Nature of interest : Direct beneficial
Clearance obtained : Yes


Director : S Pillay
Company : Vector Logistics Pty Ltd, a major
subsidiary of the Company
Date of transaction : 27 September 2016
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 : 67,594
SARs award price : R14.27
SARs exercise price : R14.83
Total gain on transaction : R37,852.64
Equivalent number of shares : 2,552
Nature of interest : Direct beneficial
Clearance obtained : Yes


Director : P E Gibbons
Company : Vector Logistics Pty Ltd, a major
subsidiary of the Company
Date of transaction : 27 September 2016
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 : 36,434
SARs award price : R14.27
SARs exercise price : R14.83
Total gain on transaction : R20,403.04
Equivalent number of shares : 1,375
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : M Dally
Company : RCL Foods Limited
Date of transaction : 28 September 2016
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 : 279,074
SARs award price : R14.27
SARs exercise price : R14.84
Total gain on transaction : R159,072.18
Equivalent number of shares : 10,719
Nature of interest : Direct beneficial
Clearance obtained : Yes


Director : R H Field
Company : RCL Foods Limited
Date of transaction : 28 September 2016
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 : 427,702
SARs award price : R14.27
SARs exercise price : R14.84
Total gain on transaction : R243,790.14
Equivalent number of shares : 16,427
Nature of interest : Direct beneficial
Clearance obtained : Yes


Director : T J Harding
Company : RCL Foods Consumer Pty Ltd, a
major subsidiary of the Company
Date of transaction : 28 September 2016
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 : 130,935
SARs award price : R14.27
SARs exercise price : R14.84
Total gain on transaction : R74,632.95
Equivalent number of shares : 5,029
Nature of interest : Direct beneficial
Clearance obtained : Yes
Director : A Westermeyer
Company : RCL Foods Consumer Pty Ltd, a
major subsidiary of the Company
Date of transaction : 28 September 2016
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 : 16,581
SARs award price : R14.27
SARs exercise price : R14.84
Total gain on transaction : R9,451.17
Equivalent number of shares : 636
Nature of interest : Direct beneficial
Clearance obtained : Yes


Company Secretary : J M J Maher
Company : RCL Foods Limited
Date of transaction : 28 September 2016
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 : 15,678
SARs award price : R14.27
SARs exercise price : R14.84
Total gain on transaction : R8,936.46
Equivalent number of shares : 602
Nature of interest : Direct beneficial
Clearance obtained : Yes


Director : D S Milne
Company : RCL Foods Consumer Pty Ltd, a
major subsidiary of the Company
Date of transaction : 28 September 2016
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 : 54,192
SARs award price : R14.27
SARs exercise price : R14.84
Total gain on transaction : R30,889.44
Equivalent number of shares : 2,081
Nature of interest : Direct beneficial
Clearance obtained : Yes

Director : P D Cruickshank
Company : RCL Foods Sugar & Milling Pty
Ltd, a major subsidiary of the
Company
Date of transaction : 28 September 2016
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 : 87,470
SARs award price : R14.27
SARs exercise price : R14.84
Total gain on transaction : R49,857.90
Equivalent number of shares : 3,359
Nature of interest : Direct beneficial
Clearance obtained : Yes


Durban
29 September 2016

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

Date: 29/09/2016 05:35:00 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.

2016-09-27

RCL Foods - proposed changes to chicken business


Shareholders are advised that RCL FOODS' Chicken business unit has initiated steps to mitigate the crisis facing the local poultry industry. The results for the year ended 30 June 2016, published on SENS on 30 August 2016, included commentary on the significant challenges faced by our chicken business, principally as relates to commodity lines in retail competing with dumped imports. The Board and executive of RCL FOODS are evaluating the options available to the company, the immediate objective of which is to reduce the volume of commodity chicken produced.

A process of consultation with all affected employees and relevant unions has been initiated. It is RCL FOODS' intention to engage all affected stakeholders including government, customers, suppliers and staff in the related feed and distribution operations. The imperative is to restore the profitability of our chicken business by limiting production of consequential commodity products and continuing to grow the demand-driven portfolio, largely comprising the foodservice market.

The Board of RCL FOODS is committed to managing this process responsibly, and ensuring that all stakeholders are kept informed and the most viable solution implemented.

2016-09-27

RCL FOODS - proposed changes to chicken business


Shareholders are advised that RCL FOODS' Chicken business unit has initiated steps to mitigate the crisis facing the local poultry industry. The results for the year ended 30 June 2016, published on SENS on 30 August 2016, included commentary on the significant challenges faced by our chicken business, principally as relates to commodity lines in retail competing with dumped imports. The Board and executive of RCL FOODS are evaluating the options available to the company, the immediate objective of which is to reduce the volume of commodity chicken produced.

A process of consultation with all affected employees and relevant unions has been initiated. It is RCL FOODS' intention to engage all affected stakeholders including government, customers, suppliers and staff in the related feed and distribution operations. The imperative is to restore the profitability of our chicken business by limiting production of consequential commodity products and continuing to grow the demand-driven portfolio, largely comprising the foodservice market.

The Board of RCL FOODS is committed to managing this process responsibly, and ensuring that all stakeholders are kept informed and the most viable solution implemented.