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CBH - Country Bird Holdings Limited - Country Bird Holdings repays shareholder loan Country Bird Holdings Limited (Incorporated in the Republic of South Africa) (Reg. no 2005/008505/06) Share Code: CBH ISIN: ZAE000094835 COUNTRY BIRD HOLDINGS REPAYS SHAREHOLDER LOAN Country Bird Holdings (CBH) has repaid a R200 million loan from its major shareholder, Synapp International. The loan was advanced in 2008 at a time when CBH bought out the remaining 50% in animal feeds company, Nutri Feeds. It enabled the company to operate without the restrictive covenants of commercial banks at the time and facilitated CBH`s positioning to become the fully integrated poultry producer that it is today. Following the financial year ended June 2011, in which substantial cash was generated and the group`s ratios improved significantly, CBH was in a position to approach Investec and obtain replacement funding for the Synapp loan, bringing all borrowings into commercial lending institutions. The replacement loan from Investec is for a five-year term at an interest rate lower than prime, with commercially negotiated security provisions. Commenting on this development, group financial director Robbie Taylor says, "There were background concerns that the Synapp loan would be converted to equity through a share issue, which created unease amongst some minority shareholders. This was despite the fact that we were at pains to explain that it was never the intention of Synapp to follow that route. Therefore, we are really pleased at repaying the loan and removing that uncertainty. However, I cannot over-emphasise how important the Synapp loan has been to the group." Ends/ About Country Bird Holdings Limited (CBH) CBH, which listed on the JSE in May 2007, is an agricultural group comprising integrated poultry, stock feed and beef businesses in South Africa, trading as Supreme Poultry, Nutri Feeds and Long Iron Meats respectively, as well as poultry breeding, broiler and stock feed operations in the southern African region, trading as Ross Africa and Master Farmer. CBH is currently active in South Africa, Botswana and Zambia. Issued for: Country Bird Holdings Limited (CBH) Contact: Robbie Taylor, Group Financial Director: 011 268 5891 / 082 809 9506 Fax No: 011 268 5894 Email: Robbie@countrybird.co.za Website: www.cbh.co.za Issue by: CBH Corporate and Investor Communications Contact: Tish Stewart: 082 4436399 / 011 442 5536 Fax No: 011 447 9317 Email: tishstewart@mweb.co.za Date: 31 October 2011 Sponsor: Investec Bank Limited Date: 31/10/2011 10:21:02 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
