FAMOUS BRANDS LIMITED - Famous Brands Sells Controlling Stake In Tashas*

Famous Brands Sells Controlling Stake In Tashas™*

Famous Brands Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1969/004875/06)
JSE share code: FBR    ISIN: ZAE000053328
("Famous Brands" or "the Group")

Famous Brands Sells Controlling Stake In Tashas™*

Famous Brands has announced that the Group has sold its controlling
51% stake in boutique café brand, tashas™, to the founding Sideris
family, who hold the remaining 49%.

The sale is in line with the Group’s three year-strategic roadmap
which includes a narrower focus of investment of resources in the
Signature brands portfolio, which includes tashas™.

tashas™ was founded in 2005 by Natasha Sideris, partnered by Savva
Sideris, her brother. In 2008 the Group acquired a 51% stake in the
business, which comprised two restaurants. As at 30 July 2020, the
network comprises 18 restaurants in South Africa and eight in the
United Arab Emirates.

The acquisition consideration falls below the threshold of a
categorised transaction in terms of the Listings Requirements of the
JSE Ltd. There are no suspensive conditions and the deal is effective
1 August 2020.

The financial information on which this announcement is based has not
been reviewed or reported on by the Group’s external auditors.

* the tashas™ brand is held in the legal entities Mountain Rush 4
(Pty) Ltd and Tashas Group Limited.


Midrand
24 August 2020

Sponsor
The Standard Bank of South Africa Limited

Date: 24-08-2020 08:30:00
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