Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

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For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

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In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

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We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

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SouthAfricanBrewerie (SAB)

  Print      Mail a friend       Annual reports

Monday 31 July, 2000

SouthAfricanBrewerie

AGM Statement

South African Breweries PLC
31 July 2000


South African Breweries plc
Incorporated in England & Wales - Registered number 3528416


LETTER TO THE COMPANY ANNOUNCEMENTS OFFICE OF THE LONDON STOCK EXCHANGE

FROM THE COMPANY SECRETARY, SOUTH AFRICAN BREWERIES PLC

AT THE ANNUAL GENERAL MEETING OF SOUTH AFRICAN BREWERIES PLC HELD TODAY AT THE
MILLENNIUM BRITANNIA MAYFAIR HOTEL, GROSVENOR SQUARE, LONDON, THE CHAIRMAN
REPORTED, INTRODUCING A REVIEW FROM THE  CHIEF EXECUTIVE, AS FOLLOWS:


Ladies and Gentlemen, it is with pleasure that I welcome you to this Second
Annual General Meeting of South African Breweries plc, which marks the
completion of the first financial year following the listing of the Company on
the London Stock Exchange on 8th March 1999, and the second year it has
reported results since it became the successor parent Company of The South
African Breweries Limited Group.

The year under review was one of the most memorable in SAB's history. The
results turned out better than we had originally expected.  All of our South
African businesses performed well, overcoming subdued economic growth,
exceptionally poor weather and consequentially lower beverage volume sales.

We also saw rapid growth in the size and scope of our international business.
Our acquisition of the Pilsner Urquell Group, the major brewer in the Czech
Republic, with its well-known brands, became effective on 1st January. We
achieved some excellent trading results, most notably Poland, Russia, China
and Botswana. Our worldwide, total beverage volume rose 9% to 77 million
hectolitres. 

Adjusted earnings were up 8%, translating to 14% at constant exchange rates.
Adjusted earnings per share were 56.6 US cents per share, up from 54 US cents
in the previous year.

In my statement to shareholders in last year's Annual Report, I recorded that
the Board's newly adopted dividend policy would move the dividend cover over
the medium term from approximately 1.8 times for Financial 1999 to a range of
2.2 to 2.5 times. In considering the levels of the interim and final
dividends, the Board took the view that it was in the interests of all
shareholders to achieve the targeted cover range sooner rather than later. 
Accordingly, Resolution 3 proposes to this meeting that shareholders approve
the final dividend of 18.5 US cents per share proposed by the Board, for
payment on 4th August 2000. Together with the interim dividend of 6.5 US cents
per share, this makes a total of 25 US cents per share for the year, resulting
in a dividend covered 2.3 times by adjusted earnings per share.

The Group wishes to retain flexibility to amend the mix of debt and
shareholders' funds to optimum levels for the long-term benefit of all
shareholders. Accordingly, resolution No. 7 being proposed today is to seek
updated shareholder approval to purchase the Company's own shares as and when
appropriate. Your directors have no immediate plans to use this facility. 

I now call upon the Chief Executive, Mr Graham Mackay, to report on recent
developments and on current trading.

'Overall, the Group's financial performance was ahead of prior year and in
line with our expectations for the first quarter. Importantly, the growth, and
increasing significance, of our international operations is offsetting a
slower performance in South Africa.

SAB International's total volumes were up 30% for the quarter, aided by fine
early summer weather in Europe, before including  our new acquisition in the
Czech Republic. There, the Pilsner Urquell Group was ahead of projections and
our management efforts are clearly starting to take effect. In Poland, and
further afield in China, our sales volumes kept up their strong growth rates.

However, growth in South Africa has not yet resumed. Beer volumes were down 1%
in the first three months, although margins remain on target. Soft drink
volumes were behind last year by some 3%. The hotel and gaming operations are
doing well in a competitive environment with advances in revenue per 
available room and gaming's net revenues.

The next trading update will be given at the time of the Company's half-year
interim report in November.'

AOC TONKINSON
COMPANY SECRETARY: SOUTH AFRICAN BREWERIES PLC
25 GROSVENOR STREET, LONDON W1X 9FE
31 JULY 2000