FAMOUS BRANDS LIMITED - Famous Brands disposes of its 49.9% stake in Its a Matter of Taste (Pty) Ltd

Famous Brands disposes of its 49.9% stake in It’s a Matter of Taste (Pty) Ltd

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 disposes of its 49.9% stake in It’s a Matter of Taste (Pty)
Ltd.

The Group has sold its 49.9% stake in It’s a Matter of Taste (Pty) Ltd, with
effect from 31 October 2020. The business comprises the By Word of Mouth and
Frozen for You brands.

The sale, to majority shareholders and founders Karen and Adrian Short, is
in line with the Group’s three year-strategic roadmap which includes a
narrower focus of investment of resources in its core offering.

The    disposal   consideration   falls   below   the   threshold   of   a   categorised
transaction in terms of the Listings Requirements of the JSE Ltd. There are
no suspensive conditions.

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

Midrand
30 November 2020


Sponsor
The Standard Bank of South Africa Limited

Date: 30-11-2020 09:00:00
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