SPUR CORPORATION LIMITED - Retirement of Spur Founder and Executive Chairman

Release Date: 23/02/2018 09:00
Code(s): SUR
 
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Retirement of Spur Founder and Executive Chairman

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” or “the company”)


RETIREMENT OF SPUR FOUNDER AND EXECUTIVE CHAIRMAN

Spur Corporation founder and executive chairman Allen Ambor is to retire from
the company and the board with effect from 1 March 2019 after 51 years’ of
service.

Mr Ambor (76) founded Spur when he opened the first restaurant in Newlands,
Cape Town, in 1967 and has served as executive chairman of the board since
the company’s listing on the JSE in 1986.

On behalf of the board, group chief executive, Pierre van Tonder, said: “We
thank Allen for his unrivalled passion, commitment and inspiration over the past
five decades in building Spur Corporation into the market-leading business that it
is today. He has overseen the growth of the business from a single outlet to a
multi-brand franchisor with over 600 restaurants in South Africa and
internationally.”

In terms of his employment conditions Mr Ambor is required to serve a 12-month
notice period. The nominations committee of the board will shortly commence the
process to identify a new board chairman.

Cape Town
23 February 2018


Sponsor
Sasfin Capital
A division of Sasfin Bank Limited

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