GRAND PARADE INVESTMENTS LIMITED - Update in Relation to the Disposal of Interest in Burger King - Fulfilment of Conditions and Closing

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
ISIN: ZAE000119814
(“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.

Cape Town
12 October 2021

Sponsor
PSG Capital

Legal Advisors
Cliffe Dekker Hofmeyr

Date: 12-10-2021 02:45:00
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