Business
Acknowledgement of Announcement
Acknowledgement of Announcement.
About this update from Zambeef Products Plc
[{"type":"text","content":"\n \nRNS Number : 2113T Zambeef Products PLC 24 March 2016 \n\n 24 March 2016 \n \nZambeef Products plc\n(\"Zambeef\" or \"the Group\") \n \nAcknowledgement of Announcement on JSE\n \nZambeef notes the following announcement released today by RCL Foods to the Johannesburg Stock Exchange regarding the put options concerning Zam Chick and Zamhatch.\n \n---\nRelease Date: 24/03/2016 12:18:00 Code(s): RCL \nAnnouncement of the exercise of the put options granted to RCL Foods Limited by Zambeef Products plc\n \nRCL FOODS LIMITED\n(Incorporated in the Republic of South Africa)\n(Registration number: 1966/004972/06)\nISIN: ZAE000179438\nShare Code: RCL\n \n \nANNOUNCEMENT OF THE EXERCISE OF THE PUT OPTIONS GRANTED\nTO RCL FOODS LIMITED BY ZAMBEEF PRODUCTS PLC\nIN RESPECT OF ZAM CHICK LIMITED AND ZAMHATCH LIMITED\n \n \n1. Background\n \nDuring 2013, RCL Foods Limited (\"RCL FOODS\"), through its wholly owned subsidiary, Rainbow Farms Investments Proprietary Limited, entered into agreements with Zambeef Products PLC (\"Zambeef\") regarding investments in its broiler business, Zam Chick Limited (\"Zam Chick\"), and a greenfield hatchery investment, Zamhatch Limited (\"Zamhatch\").\n \nRCL FOODS has a 49% interest in Zam Chick and a 51% interest in Zamhatch. Shareholders' agreements were entered into between RCL FOODS and Zambeef in respect of Zam Chick on 1 February 2013 (\"the Zam Chick Shareholders' Agreement\") and Zamhatch on 29 May 2013 (\"the Zamhatch Shareholders' Agreement\") (collectively, \"the Shareholders' Agreements\").\n \nIn terms of the Shareholders' Agreements RCL FOODS, as a standard protection mechanism, was ...