SUR - Spur Corporation Limited - SENS announcement by The Spur Corporation
26 January 2012 10:53
SUR - Spur Corporation Limited - SENS announcement by The Spur Corporation      
Spur Corporation Limited                                                        
(Incorporated in the Republic of South Africa)                                  
(Registration number 1998/000828/06)                                            
Share code: SUR                                                                 
ISIN: ZAE 000022653                                                             
Voluntary announcement                                                          
SENS ANNOUNCEMENT BY THE SPUR CORPORATION                                       
The board of directors is pleased to announce that the disputes between Spur and
certain of its directors on the one hand, and Mr Kapsimalis (the managing       
director of John Dory`s Franchise (Pty) Ltd ("John Dory`s")) and with his family
trust, on the other hand, have been settled.                                    
In terms of the settlement all litigation between the parties has been          
terminated and a wholly-owned subsidiary of Spur has acquired the Kapsimalis    
Family Trust`s 35% interest in John Dory`s with effect from 25 January 2012 for 
the sum of R12.25 million (accordingly, Spur is now the owner of the entire     
issued share capital of John Dory`s). John Dory`s simultaneously declared and   
paid a dividend to Spur in the sum of R3.25 million and to the Kapsimalis Family
Trust in the sum of R1.75 million.                                              
The acquisition is smaller than a category 2 transaction of the JSE Limited     
listing requirements.                                                           
Cape Town                                                                       
26 January 2012                                                                 
Sasfin Capital                                                                  
A division of Sasfin Bank Limited                                               
Legal advisors                                                                  
Bernadt Vukic Potash & Getz Attorneys                                           
Date: 26/01/2012 10:53:00 Produced by the JSE SENS Department.                  
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