Voluntary update on impact of civil unrest on Lewis group
Voluntary update on impact of civil unrest on Lewis group Lewis Group Limited Incorporated in the Republic of South Africa Registration number: 2004/009817/06 JSE share code: LEW ISIN: ZAE000058236 Bond code: LEWI (“Lewis Group” or “the group”) VOLUNTARY UPDATE ON IMPACT OF CIVIL UNREST ON LEWIS GROUP The widespread violence and looting experienced in KwaZulu-Natal and parts of Gauteng last week has had a significant impact on the group’s store operations. A total of 58 stores were looted and damaged and are currently not able to trade, including 54 stores in the ‘traditional’ segment across the Lewis, Beares and Best Home & Electric brands and four UFO stores. At the height of the unrest last week over 260 stores across the group were closed as a precautionary measure to ensure the safety of employees and customers, and to minimise losses. Management is currently assessing the extent of the vandalism and it is too early to provide an estimate of the damage to the stores. The group has SA Special Risk Insurance Association (SASRIA) cover for losses arising from riot action. The group is working closely with its supply chain partners, landlords and other service providers to restore operations as speedily as possible. Besides the damaged stores, only seven other stores remain closed today, Monday 19 July. Cape Town 19 July 2021 Sponsor UBS South Africa (Pty) Ltd Debt sponsor Absa Bank Limited acting through its Corporate and Investment Banking Division 1 Date: 19-07-2021 04:05:00 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.