The founder and non-controlling shareholder in Ezee Tile Adhesive Manufacturers Proprietary Limited (“Ezee Tile”), Mike du Plessis, retired with effect from 1 July 2021. As a result, the Group acquired his shareholding in Ezee Tile for R120 million subsequent to year-end, increasing the Group’s stake in this company to 97,54%.

During the social unrest in July 2021 experienced in Gauteng and KwaZulu-Natal (“KZN”), the Group closed all of its 18 stores in KZN for 10 days, as well as 16 stores in other hotspots for shorter periods of time. Although trade was disrupted and two of the Group stores looted, the Group was fortunate to not experience material loss during this time. Business interruption and asset loss insurance claims have been lodged with insurers

The directors are not aware of any other matters or circumstances arising since the end of the reporting period which will significantly affect the financial position at 30 June 2021 or the results of its operations or cash flow for the year then ended.