GRAND PARADE INVESTMENTS LIMITED - Update Regarding The Acquisition By GPI Of A Further 35% Of Mac Brothers

Update Regarding The Acquisition By GPI Of A Further 35% Of Mac Brothers

GRAND PARADE INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 1997/003548/06)
Share code: GPL
ISIN: ZAE000119814
(“GPI” or “the Company”)

UPDATE REGARDING THE ACQUISITION BY GPI OF A FURTHER 35% OF MAC
BROTHERS CATERING EQUIPMENT (PROPRIETARY) LIMITED (“MAC
BROTHERS”)

Shareholders are referred to the SENS announcement dated 20
October 2014, whereby shareholders were advised that GPI had
entered into a sale of shares agreement with, inter alia,
Ranmac Management and Holdings (Proprietary) Limited, Nadesons
Investments (Proprietary) Limited (“Nadesons Investments”) and
Razia Khan (collectively referred to as “the Sellers”), in
terms of which the Sellers agreed to sell 35.00% of the total
issued ordinary share capital of Mac Brothers to the Company
(“the Acquisition”).

Due to one of the Sellers, namely Nadesons Investments, being
an associate of Mr Hassen Adams and Mr Alan Keet, both
directors of GPI, the Acquisition is a small related party
transaction in terms of the Listings Requirements of the JSE
Limited (“JSE”).

Accordingly,   GPI    appointed   Mazars    Corporate   Finance
(Proprietary) Limited (“Mazars”) as the independent expert to
provide written confirmation of the fairness of the Acquisition
to GPI shareholders and to the JSE. The aforementioned fairness
opinion will lie open for inspection at the registered address
of GPI for a period of 28 days from the date of publication of
this announcement.

Shareholders   are  hereby  further   advised  that  all   the
outstanding conditions precedent to the Acquisition have been
fulfilled and accordingly the Acquisition is now unconditional
and will be implemented in terms of the agreements governing
the Acquisition.

Cape Town
13 January 2015

Sponsor and corporate advisor:
PSG Capital (Proprietary) Limited

Independent expert:
Mazars Corporate Finance (Proprietary) Limited

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