Shareholders are referred to the Cautionary Announcement (“Announcement”) published on SENS on 2 April 2020, in which the Board of Directors (“Board”) advised that the Group had reviewed its investment in GBK Restaurants Limited (“GBK”) and had taken the decision to not provide any further financial assistance to GBK. Accordingly, the Board of GBK would consider the options available to the business.
Shareholders were also cautioned that the Board’s decision to withhold further financial support for GBK may result in an impairment of the full value of Famous Brands’ investment in GBK, the precise valuation of which impairment would be determined in due course.
As deliberations in respect of this matter are still in progress, shareholders are advised to continue exercising caution when dealing in the Company’s securities until a further announcement is made in this regard.
The financial information on which this announcement is based has not been reviewed or reported on by the Group’s external auditors.
20 May 2020