BRT/BRN - Brimstone Investment Corporation Limited - Voluntary announcement

BRT/BRN - Brimstone Investment Corporation Limited - Voluntary announcement     
regarding Brimstone`s potential investment in Taste Holdings Limited            
BRIMSTONE INVESTMENT CORPORATION LIMITED                                        
(Incorporated in the Republic of South Africa)                                  
(Registration number 1995/010442/06)                                            
Share Code: BRT                                                                 
ISIN Number: ZAE000015277                                                       
Share Code: BRN                                                                 
ISIN Number: ZAE000015285                                                       
("Brimstone")                                                                   
VOLUNTARY ANNOUNCEMENT REGARDING BRIMSTONE`S POTENTIAL INVESTMENT IN TASTE      
HOLDINGS LIMITED ("TASTE")                                                      
Holders of ordinary and "N" ordinary Brimstone shares are advised that Brimstone
has agreed to subscribe for 24 000 000 ordinary shares in the authorised share  
capital of Taste ("Taste ordinary shares") for an aggregate subscription price  
of R36 960 000 being an issue price of R1.54 per share ("Taste subscription").  
Brimstone will hold 12.4% of the Taste ordinary shares in issue pursuant to the 
Taste subscription.                                                             
The Taste subscription is conditional upon the sale of business agreement       
between a wholly owned subsidiary of Taste and The Traditional Fish & Chips     
(Proprietary) Limited ("the Seller") to acquire the business operated by the    
Seller under the name The Fish & Chip Co ("the Acquisition"), becoming          
unconditional. The Taste subscription proceeds will be used by Taste to         
partially fund the Acquisition.                                                 
Taste is a South African based management group that is invested in a portfolio 
of mostly franchised quick service restaurant and retail brands that currently  
include Scooters Pizza, St Elmo`s, Maxi`s and NWJ.                              
Brimstone Chief Executive Mustaq Brey commented: "We are very excited about the 
potential of this investment. There is good growth opportunity, especially on   
the back of the acquisition of The Fish & Chip Co. We`ve been working on this   
transaction for some time and made a good investment at good value." More       
details on the Acquisition can be found in the SENS announcements made by Taste 
on Tuesday, 8 November 2011 and Thursday, 8 December 2011.                      
It should be noted that the value of the transaction for Brimstone is less than 
5% of Brimstone`s market capitalisation and accordingly this announcement is    
made voluntarily.                                                               
Cape Town                                                                       
8 December 2011                                                                 
Investment Bank and Sponsor                                                     
Nedbank Capital                                                                 
Date: 08/12/2011 09:00:02 Supplied by www.sharenet.co.za                     
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