The Directors of Truworths Limited ("Truworths" or "the Company") wish to advise all shareholders and the investing public that the company is engaged in discussions that involve a potential transaction that may have a material impact on the value of the Company's shares. The transaction involves raising capital for the Company's working capital requirements and expansion initiatives through the issuance of shares by way of a rights offer.
Further details of the transaction will be provided in a circular to shareholders that is being finalised.
Shareholders are therefore advised to exercise caution when trading in the Company's shares.
By Order of the Board
B M CHIBANDA
COMPANY SECRETARY
12 May 2023
Directors: M. P. Mahlangu (Chairman), B. Ndebele (C.E.O), B. H. Henderson, F. K. Khan, L. Mabhiza, W. Matsaira, A. B. Miek, S. M. Takaendisa
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Truworths Ltd. published this content on 15 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 May 2023 08:07:08 UTC.
Truworths Limited specializes in the design, manufacturing and marketing of clothes and accessories for men and women. Net sales break down by activity as follows:
- retail distribution of clothes and accessories (98.6%): Nine West, Guess, Ka'yanda, Bertha Jackson, Black Opal, Dior, Pierre Cardin, Thomas & Beno, Daniel Italy, Hi-Tec, Truworths, Bvlgari, Arrow, Caballero and Pringle brands;
- manufacturing of clothes and accessories (1.4%): clothes (pants, shorts, skirts, tops, dresses, suits, jackets, etc.), accessories (bags, shoes, belts, jewelry, watches, perfumes, etc.) and lingerie.