Further Announcement on the Disposal of Nutritional Foods (Pty) Ltd and Associated Resignation of Director
Further Announcement on the Disposal of Nutritional Foods (Pty) Ltd and Associated Resignation of Director NUTRITIONAL HOLDINGS LIMITED (Registration number: 2004/002282/06) (Incorporated in the Republic of South Africa) (Share Code: NUT ISIN Code: ZAE000156485) (“Nutritional Holdings” or “the Company”) FURTHER ANNOUNCEMENT ON THE DISPOSAL OF NUTRITIONAL FOODS (PTY) LIMITED (“NUTRITIONAL FOODS”) AND ASSOCIATED RESIGNATION OF DIRECTOR RESIGNATION OF DIRECTOR In compliance with section 3.59 of the Listings Requirements of the Johannesburg Stock Exchange (“JSE”), shareholders are advised that Mr MM Suping (“Oupa”) has notified the Board of his resignation as a non-executive director, with effect from 31 July 2021. Shareholders are advised that Oupa would still remain as a director and the CEO of Nutritional Foods. The Board wishes to thank Oupa for his services to Nutritional Holdings. UPDATE ON DISPOSAL OF NUTRITIONAL FOODS Shareholders are referred to the announcement published on SENS on 18 June 2021 regarding the sale of the shares in and claims against Nutritional Foods to Mr MM Suping, the current CEO of Nutritional Foods, for an amount of R15.2 million (“the Disposal”). REMAINING CONDITIONS PRECEDENT The following conditions precedent remain as at date of this announcement: - Written confirmation of no legal claims, or full and final settlement thereof, on the effective date; - The Purchaser confirming a satisfactory due diligence in writing; - Payment of the balance of the purchase consideration; - Board approval by the Seller; - Any other regulatory and shareholder approval, if required; and - Any other written confirmation required in terms of the change in shareholding of Nutritional Foods. The effective date financial statements, certified by an auditor, must also be provided by the Seller. FINANCIAL INFORMATION The board has not yet been able to satisfy itself with the quality and reliability of the figures drawn from the unaudited draft trial balance of Nutritional Foods as at 28 February 2021. Updated financial information may need to be published in due course once the audit has been finalised. By order of the Board Durban 2 August 2021 Designated Advisor AcaciaCap Advisors Proprietary Limited Date: 02-08-2021 05:45:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.