The Board of the Company advises shareholders that on Friday 22 November 2019, negotiations with a purchaser of the shares in the South African Operations, comprising Choppies Supermarkets S A Proprietary Limited, Choppies Logistics Proprietary Limited, Choppies Warehousing S A Proprietary Limited and Motopi Holdings SA Proprietary Limited were concluded, resulting in agreements being signed by the Company, Choppies Supermarkets S A Proprietary Limited and Kind Investments Proprietary Limited (lithe Transaction”).
The Transaction is subject for its force and effect to the fulfilment of certain conditions, including regulatory approval, i.e. approval of the Competition Authority of South Africa.
A detailed announcement complying with Rule 6.9 of the BSEL Listing Requirements will follow in due course.
The Company’s primary listing is on the BSE Land its secondary listing is on the JSE. The listings on both exchanges are suspended.
By order of the Board