RCL FOODS sets AGM date, extends Siqalo Foods management services deal

RCL FOODS LIMITED has announced the availability of its 2025 annual financial statements and integrated annual report, accessible via the JSE cloudlink and the company's website. The 59th annual general meeting (AGM) is scheduled for Wednesday, November 12, 2025, at 08h30, at 10 The Boulevard, Westway Office Park, Westville. Key dates include a record date of September 19, 2025, for receiving the notice, and November 7, 2025, for determining eligibility to attend and vote. The abridged annual financial statements will be distributed on September 26, 2025.

In a separate development, RCL FOODS has extended its management services agreement with Siqalo Foods Proprietary Limited until October 31, 2027. This constitutes a related party transaction, as Remgro Limited is a material shareholder of both RCL FOODS and Siqalo. The extension aims to ensure continuity and certainty, with RCL FOODS providing services such as finance, sales, and marketing.

In consideration for these services, Siqalo will pay RCL FOODS a market-related fee of R188 million per financial year (exclusive of VAT), which will be adjusted annually for inflation. BDO Corporate Finance Proprietary Limited has provided a fairness opinion, confirming that the terms of the services agreement are fair to RCL FOODS' shareholders. The fairness opinion will be available for inspection at RCL FOODS' registered office for 28 days from September 26, 2025.