TASTE HOLDINGS LIMITED - Taste Rights Offer Results

Taste Rights Offer Results

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

TASTE RIGHTS OFFER RESULTS

INTRODUCTION

Shareholders are referred to the announcements released by the Company on
19 December 2018 and 29 January 2019 and the circular dated 4 February 2019 relating to
the Taste underwritten renounceable rights offer to raise up to R132 000 000 (“Rights Offer”).
In terms of the Rights Offer, Taste offered of 1 320 000 000 new Taste ordinary shares
(“Rights Offer Shares”) to qualifying shareholders at a subscription price of 10 cents per
Rights Offer Share, in the ratio of 146.42247 Rights Offer Shares for every 100 ordinary shares
held on the Rights Offer record date, being 8 February 2019 (“Record Date”).

Riskowitz Value Fund LP (“RVF”), Rand Group LLC (“Rand Group LLC”) and Eldon Capital
Management Limited (“Eldon Capital”) (the “Underwriters”) agreed to underwrite the total of
the Rights Offer Shares, being up to 1 320 000 000 Rights Offer Shares, to the extent that
Shareholders did not follow their rights in terms of the Rights Offer, in proportion to their
underwriting participation being, 70% as to RVF and 15% as to each of Rand Group and Eldon
Capital.

The results of the Rights Offer, which closed on Friday, 22 February 2019, are as follows:

                                     Number of Rights Offer          % of Rights Offer Shares
                                     Shares
 
 Rights Offer Shares                      1 320 000 000                   100%
 available for subscription
 
 Rights Offer Shares                      239 814 747                     18.17%
 subscribed for by
 Shareholders
 
 Rights Offer Shares to be                1 080 185 253                   81.83%
 issued to the Underwriters

Shareholders who have subscribed for Rights Offer Shares will receive their Rights Offer
Shares today, Monday, 25 February 2019.

Sandton
25 February 2019

Sponsor and Transaction Advisor
PSG Capital

Date: 25/02/2019 02:39:00 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.