TASTE HOLDINGS LIMITED - Acquisition Of Arthur Kaplan Jewellers Amendment To Settlement Terms

Acquisition Of Arthur Kaplan Jewellers – Amendment To Settlement Terms

TASTE HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2000/002239/06)
JSE code: TAS ISIN: ZAE000081162
(“Taste”)

ACQUISITION OF ARTHUR KAPLAN JEWELLERS – AMENDMENT TO SETTLEMENT TERMS

Further to the announcement released on SENS on 21 October 2014 and using the terms defined therein
unless otherwise stated, shareholders are hereby advised that:

1. In terms of the Sale of Shares agreement the purchase consideration of R85 million which was settled in
   cash would additionally be increased by R4.21 for every R1.00 with which the profit after tax of AKJ
   Holdings Proprietary Limited (“Arthur Kaplan Jewellers”) for the period from 1 July 2014 to 30 June 2015
   exceeds R12.386 million, up to a total additional amount of R35 million (“additional purchase
   consideration”). An amendment to the settlement of the additional purchase consideration in the Sale of
   Shares agreement has been signed. This amendment reflects that R5 750 000 of the additional
   purchase consideration be settled by the issue of 1 726 727 Taste ordinary shares and the remainder in
   cash.
2. The current trading performance of Arthur Kaplan Jewellers indicates that the additional purchase
   consideration payable will in all likelihood exceed the R15 million provided for as at the end of February
   2015.
3. The issue of shares is intended to assist in retaining Dean Divaris, Managing Director of Arthur Kaplan
   Jewellers and to align him with the rest of Taste’s executive team who own both personal as well as
   optional equity.
4. In terms of the JSE Listings Requirements the categorisation of the Arthur Kaplan Jewellers acquisition
   has not changed.
5. All other terms of the Sale of Shares agreement remain unchanged.
6. The payment of the cash and the issue of shares will take place in July 2015.

8 June 2015

Sponsor
Merchantec Capital

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