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TASTE HOLDINGS LIMITED - Cautionary Announcement

Release Date: 29/09/2017 11:35
Code(s): TAS     PDF:  
Wrap Text
Cautionary Announcement

Taste Holdings Limited
Incorporated in the Republic of South Africa
(Registration number 2000/002239/06)
Share code: TAS ISIN: ZAE000081162
(“Taste” or “the Company” or “the Group”)

CAUTIONARY ANNOUNCEMENT

Shareholders are referred to the announcement released by the Company on 4 April 2017 wherein the board
of directors of Taste (“the Board”) concluded that each of its food and luxury goods divisions would be better
served as standalone businesses and that it would sell its luxury goods division in due course.

Part of this intended restructure would see Taste settle its long-term bond debt of R225 million and fund
future growth of Starbucks and Domino’s stores through a combination of equity and debt more suited to the
start-up nature of the food division. Having initiated a process for the sale of the luxury goods division the
Company has concluded that it is not the opportune time to execute such a sale. This is due to the current
prevailing macro-economic environment and generally tough retail trading conditions. Taste is therefore
evaluating alternatives to settle its debt which may have a material effect on the price of the Company’s
securities.

Accordingly, shareholders are advised to exercise caution when dealing in the Company’s securities, until a
further announcement is made.


Johannesburg
29 September 2017

Sponsor
Merchantec Capital

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