GRAND PARADE INVESTMENTS LIMITED - Update In Relation To The Competition Commission Decision

Update In Relation To The Competition Commission Decision

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 IN RELATION TO THE COMPETITION COMMISSION DECISION

Shareholders are referred to the Company’s various announcements regarding the proposed
transaction in which the Company’s wholly-owned subsidiaries, Grand Foods Investments 1
Proprietary Limited and Grand Foods Proprietary Limited, will sell all of the shares they hold
in Burger King South Africa (RF) Proprietary Limited (“BKSA”) and Grand Foods Meat Plant
Proprietary Limited (“Grand Foods Meat Plant”), respectively (“Disposal” or “Proposed
Transaction”), to an affiliate of ECP Africa Fund IV LLC and ECP Africa Fund IV A LLC
(collectively, “ECP Africa Fund”) and to the announcement of 2 June 2021 whereby
shareholders were advised of the Competition Commission’s decision to prohibit the Proposed
Transaction on public interest grounds.

Shareholders are hereby advised that, subsequent to the Competition Commission’s decision
to prohibit the Proposed Transaction, BKSA, Grand Foods Meat Plant and ECP Africa Fund
(collectively, the “Merging Parties”) have reached agreement with the Competition
Commission on a revised set of conditions (“Draft Conditions”) that address the Competition
Commission’s public interest concerns regarding the Proposed Transaction. Accordingly, the
Merging Parties submitted a request to the Competition Tribunal to reconsider and approve
the Proposed Transaction, subject to the Draft Conditions.

The hearing to consider the Merging Parties’ request for the Competition Tribunal to approve
the Proposed Transaction, subject to the Draft Conditions takes place today, 18 August 2021
and shareholders will be advised of the outcome of the hearing in due course.

Cape Town
18 August 2021

Sponsor
PSG Capital

Date: 18-08-2021 02:54:00
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