SUR - Spur Corporation Limited - SENS announcement by The Spur Corporation
SUR
SUR
SUR - Spur Corporation Limited - SENS announcement by The Spur Corporation
Spur Corporation Limited
(Incorporated in the Republic of South Africa)
(Registration number 1998/000828/06)
Share code: SUR
ISIN: ZAE 000022653
("Spur")
Voluntary announcement
SENS ANNOUNCEMENT BY THE SPUR CORPORATION
The board of directors is pleased to announce that the disputes between Spur and
certain of its directors on the one hand, and Mr Kapsimalis (the managing
director of John Dory`s Franchise (Pty) Ltd ("John Dory`s")) and with his family
trust, on the other hand, have been settled.
In terms of the settlement all litigation between the parties has been
terminated and a wholly-owned subsidiary of Spur has acquired the Kapsimalis
Family Trust`s 35% interest in John Dory`s with effect from 25 January 2012 for
the sum of R12.25 million (accordingly, Spur is now the owner of the entire
issued share capital of John Dory`s). John Dory`s simultaneously declared and
paid a dividend to Spur in the sum of R3.25 million and to the Kapsimalis Family
Trust in the sum of R1.75 million.
The acquisition is smaller than a category 2 transaction of the JSE Limited
listing requirements.
Cape Town
26 January 2012
Sponsor
Sasfin Capital
A division of Sasfin Bank Limited
Legal advisors
Bernadt Vukic Potash & Getz Attorneys
Date: 26/01/2012 10:53:00 Produced by the JSE SENS Department.
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