Spur Corporation acquires Hussar Grill steakhouse chain Spur Corporation Limited (Incorporated in the Republic of South Africa) (Registration number 1998/000828/06) Share code: SUR ISIN: ZAE 000022653 (“Spur Corporation” or “the group”) SPUR CORPORATION ACQUIRES HUSSAR GRILL STEAKHOUSE CHAIN PRESS RELEASE Spur Corporation has bought the Western Cape-based Hussar Grill steakhouse chain for R35 million in cash. The chain, which comprises six restaurants, was started in 1964 when the first Hussar Grill opened in Rondebosch in Cape Town. Further outlets have been opened in recent years in Camps Bay, Green Point, Stellenbosch, Tygervalley and Constantia. Three of the restaurants are company-owned and three are franchised outlets. Spur Corporation chief executive officer, Pierre van Tonder, said the acquisition will give the group exposure to an upmarket specialist steakhouse chain. “Our heritage and expertise in Spur is managing steak ranches and we bring this experience to a higher segment of the restaurant market which be believe has good growth prospects. “As an experienced multi-brand restaurant franchisor we are excited to incorporate another strong brand into our growing portfolio. The management of the Hussar Grill will be integrated into the Spur franchise operations and enable us to maximise growth opportunities for the chain.” Van Tonder said the Hussar Grill brand is highly regarded in the Western Cape, with the iconic Hussar grill room in Rondebosch having operated for the past 50 years. “We plan to capitalise on this brand equity by expanding the chain in the Western Cape and also extending the presence into other regions to eventually gain a national footprint,” he said. “We have seen high levels of interest from our current Spur franchisees who would also like to own an upmarket steakhouse within the Spur group. The acquisition of the Hussar Grill will create the opportunity for our existing franchisees to invest in their own specialist steakhouses and this will be one of the drivers of the expansion of the new chain.” The effective date of the transaction is 1 January 2014. Cape Town 13 December 2013 Sponsor Sasfin Capital A division of Sasfin Bank Limited Legal advisor Bernadt Vukic Potash & Getz Date: 13/12/2013 09:00:00 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.