FAMOUS BRANDS LIMITED - Famous Brands disposes of its 49.9% stake in It’s a Matter of Taste (Pty) Ltd
Famous Brands disposes of its 49.9% stake in It’s a Matter of Taste (Pty) Ltd
Famous Brands Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1969/004875/06)
JSE share code: FBR ISIN: ZAE000053328
("Famous Brands" or "the Group")
Famous Brands disposes of its 49.9% stake in It’s a Matter of Taste (Pty)
Ltd.
The Group has sold its 49.9% stake in It’s a Matter of Taste (Pty) Ltd, with
effect from 31 October 2020. The business comprises the By Word of Mouth and
Frozen for You brands.
The sale, to majority shareholders and founders Karen and Adrian Short, is
in line with the Group’s three year-strategic roadmap which includes a
narrower focus of investment of resources in its core offering.
The disposal consideration falls below the threshold of a categorised
transaction in terms of the Listings Requirements of the JSE Ltd. There are
no suspensive conditions.
The financial information on which this announcement is based has not been
reviewed or reported on by the Group’s external auditors.
Midrand
30 November 2020
Sponsor
The Standard Bank of South Africa Limited
Date: 30-11-2020 09:00:00
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