| Fri 24 Jun 2022, 10:30 | | PREMIER FISHING AND BRANDS LIMITED - Update on Transactional Banking Facilities and Withdrawal of Cautionary Announcement |
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Update on Transactional Banking Facilities and Withdrawal of Cautionary Announcement
Premier Fishing and Brands Limited
(Incorporated in the Republic of South Africa)
Registration number: 1998/018598/06
Share code: PFB
ISIN: ZAE000247516
("Premier" or “the Company”)
UPDATE ON TRANSACTIONAL BANKING FACILITIES AND WITHDRAWAL OF CAUTIONARY
ANNOUNCEMENT
1. UPDATE ON TRANSACTIONAL BANKING FACILITIES
Shareholders are referred to the cautionary announcement dated 16 February 2022, regarding the
Company’s current bankers, Nedbank Limited (“Nedbank”), giving the Company notice to close its
transactional banking facility with effect from 9 May 2022.
Shareholders are further advised that, the Company as a co-applicant, joined in launching an urgent
interdict application with the Equality Court in respect of Nedbank's decision to close the Company's
banking facilities. The interdict was granted and as such the Company’s transactional banking facilities
remains active.
The matter pertaining to the closure of Premier’s accounts was heard at the Equality Court on Tuesday,
19 April 2022.
Judgement on the matter was delivered electronically on Friday, 17 June 2022 with such judgement
being:
• Granting Premier’s interim interdict in terms of the provisions of Section 21(5) of the Promotion
of Equality and Prevention of Unfair Discrimination Act, Act 4 of 2000;
• Prohibiting Nedbank Limited and Nedbank Private Wealth Stockbrokers (Pty) Ltd from closing the
bank accounts of Premier pending the final determination of the proceedings instituted at the
Equality Court; and
• Ordering any bank accounts held by Premier which have been closed, to be reopened with
immediate effect pending the final determination of the proceedings instituted at the Equality
Court.
2. WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT
As stated above, the relief granted by the Equality Court in terms of the interim interdict, is subject to
the final determination of the proceedings instituted at the Equality Court.
As no such date has been set for such proceedings, and the envisioned length of time that will pass
before such proceedings occur, shareholders are advised that caution is no longer required to be
exercised when dealing in their Premier shares.
Cape Town
24 June 2022
JSE Sponsor
Vunani Sponsors
Date: 24-06-2022 10:30:00
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