African Equity Empowerment Investments Limited (JSE:AEE) made an offer to acquire 6.14% stake in Premier Fishing & Brands Limited (JSE:PFB) for SAR 25.6 million on December 9, 2022. African Equity Empowerment shall be a cash consideration of SAR 1.60 per Share. Currently, African Equity Empowerment hold 56.2% stake in PFB. the Offeror has obtained and delivered to the TRP an irrevocable unconditional confirmation from Adriaans Attorneys Inc. that it holds sufficient cash in its trust account for the total Scheme Consideration. Subsequent to the Scheme becoming operative, PFB shall delist from the securities exchange operated by the JSE Limited (“JSE”) (the Scheme and the delisting hereinafter referred to as the “Proposed Transaction”). PFB has constituted an independent board comprising Rosemary Mosia, Clifford van der Venter and Patrick Mngconkola (“Independent Board”) to consider the terms and conditions, and the merits, of the Scheme and the Offer. Transaction is subject to the conditions set out in the joint circular to be distributed to PFB Shareholders in due course (“Circular”), AEEI and PFB having obtained all such other corporate and regulatory approvals for the Scheme .

African Equity Empowerment Investments Limited (JSE:AEE) cancelled the acquisition of a 6.14% stake in Premier Fishing & Brands Limited (JSE:PFB) on February 13, 2023.