Update in Relation to the Disposal of Interest in Burger King - Fulfilment of Conditions and Closing
GRAND PARADE INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number: 1997/003548/06)
Share code: GPL
(“GPI” or the “Company”)
UPDATE IN RELATION TO THE DISPOSAL OF INTEREST IN BURGER KING -
FULFILMENT OF CONDITIONS AND CLOSING
Shareholders are referred to the Company’s various announcements regarding the proposed
transaction in which the Company’s wholly-owned subsidiaries, Grand Foods Investments 1
Proprietary Limited and Grand Foods Proprietary Limited, will sell all of the shares they hold
in Burger King South Africa (RF) Proprietary Limited and Grand Foods Meat Plant Proprietary
Limited, respectively, to an affiliate of ECP Africa Fund IV LLC and ECP Africa Fund IV A LLC
(“Disposal”) and in particular to the announcement of 5 October 2021 whereby shareholders
were advised of the extension of the date for fulfilment or waiver of the outstanding conditions
precedent to 11 October 2021.
GPI is pleased to advise that all conditions to the Disposal capable of being fulfilled or waived
prior to the closing date of the Disposal have been fulfilled or waived, as the case may be. The
remaining outstanding conditions are required to be fulfilled or waived on the closing date.
The parties have agreed that the closing date of the Disposal will be Wednesday,
3 November 2021 on which date the buyer is required to make payment to the sellers.
12 October 2021
Cliffe Dekker Hofmeyr
Date: 12-10-2021 02:45:00
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.