Shareholders are referred to the Renewal of Cautionary Announcement (“Announcement”) published on SENS on 20 May 2020 relating to the Board of Directors’ (“Board”) decision not to provide any further financial assistance to GBK Restaurants Limited (“GBK”).
Shareholders were furthermore 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.
1 July 2020
The Standard Bank of South Africa Limited