PREMIER FISHING AND BRANDS LIMITED - Cautionary Announcement: Transactional Banking Facilities

Cautionary Announcement: Transactional Banking Facilities

Premier Fishing and Brands Limited
(Incorporated in the Republic of South Africa)
Registration number: 1998/018598/06
Share code: PFB
ISIN: ZAE000247516
("Premier" or “the Company”)

CAUTIONARY ANNOUNCEMENT: TRANSACTIONAL BANKING FACILITIES

Shareholders are advised that the Company’s current bankers, Nedbank Limited (“Nedbank”) have
given the Company notice to close its transactional banking facility with effect from 9 May 2022. The
Company does not have any lending facilities with Nedbank.

Despite the Company’s best efforts, Nedbank has not provided PFB with what it regards as valid
reasons for the termination. The Company believes that it is entitled to fair treatment and as a result,
the Company instituted legal proceedings at the High Court, Western Cape, through an interdict
against Nedbank for its decision to close the Company’s transactional banking facility.

Handing down judgement on Monday 14 February 2022 and an order late on Tuesday, the judge ruled
that this matter is best suited to the Equality Court and indicated that is an important matter for
transformational constitutionalism.

PFB has reviewed the judgement. Accordingly, PFB is in discussion with its legal counsel to file an
urgent interdict with the Equality Court, which will have jurisdiction over this matter.

PFB is, however, pleased that the judge noted the conduct of the banks, and in particular Nedbank, in
attempting to delay the hearing of the matter.

PFB has made arrangements for alternative payment methods in the interim and is in the process of
reviewing its options for transactional banking facilities.

Cautionary Announcement

As a result of Nedbank’s decision to close the Company’s transactional banking facilities in May,
shareholders are advised to exercise caution when dealing in the Company’s securities until a further
announcement is made.


Cape Town
16 February 2022

Sponsor
Vunani Sponsors

Date: 16-02-2022 11:32:00
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