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
- 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
The effective date financial statements, certified by an auditor, must also be provided by
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
2 August 2021
AcaciaCap Advisors Proprietary Limited
Date: 02-08-2021 05:45:00
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