Shareholders are referred to the announcement released on the Stock Exchange News Service of the JSE Limited (“SENS”) on 20 February 2015 (“Acquisition Announcement”) regarding the Company’s wholly owned subsidiary, Rhodes Food Group Proprietary Limited (“Rhodes Food”) having concluded an agreement relating to the acquisition by Rhodes Food of the business assets of Deemster from Deemster (“Deemster Acquisition”), which acquisition was subject to the fulfilment or waiver, as the case may be, of certain conditions precedent.
Shareholders are further referred to the announcement released on SENS on 31 July 2015 (“Supplementary Announcement”) regarding Rhodes Food and Deemster having received a notification from the Competition Commission (“Notice”) requesting that, in terms of section 13(3) of the Competition Act
and the Competition Commission Rule 25, Rhodes Food and Deemster are required to notify the Competition Commission of the Deemster Acquisition as a proposed merger, within 20 business days after receipt of the Notice.
Further to the Acquisition Announcement and the Supplementary Announcement, the Company’s board of directors is pleased to advise that the Competition Commission has approved the Deemster Acquisition and the remaining conditions precedent thereto have been fulfilled (or waived, as the case may be), and the Deemster Acquisition has therefore become unconditional. The effective date of the Deemster Acquisition is 1 October 2015.