- Premier Fishing and Brands Limited (PFB) withdraws cautionary announcement regarding the Proposed Transaction.
- Circular detailing the Proposed Transaction circulated to PFB shareholders on 5 May 2023.
- Shareholders advised that caution is no longer necessary when dealing in PFB securities.
Premier Fishing and Brands Limited (PFB), a leading fishing and brands company based in South Africa, has officially withdrawn its cautionary announcement following significant developments in the Proposed Transaction. The company had previously notified shareholders of Sekunjalo Investment Holdings’ firm intention to acquire all ordinary shares in PFB, excluding those held by African Empowerment Equity Investments Limited and shareholders acting in concert with Sekunjalo.
In a series of cautionary announcements, PFB initially alerted shareholders to Sekunjalo’s interest on 9 November 2022, with subsequent renewals, the latest of which was issued on 27 March 2023. However, the landscape has shifted as the circular detailing the Proposed Transaction was recently distributed to shareholders on Friday, 5 May 2023.
As a result, PFB has informed its shareholders that exercising caution is no longer necessary when engaging in transactions involving PFB securities. This significant update implies that the Proposed Transaction is progressing positively and is gaining momentum.
PFB, with its operations centered around the fishing industry in South Africa, is an essential player in the market. The withdrawal of the cautionary announcement indicates a step forward in the potential acquisition of PFB shares by Sekunjalo, pending shareholder approval and support.
As the Proposed Transaction unfolds, shareholders eagerly await further updates and guidance from PFB. The withdrawal of the cautionary announcement suggests that the company is confident in the progress being made, potentially leading to a successful acquisition.
Market analysts and investors will be closely monitoring the situation, seeking detailed information regarding the terms and conditions outlined in the circular that was distributed to PFB shareholders. PFB’s management, in collaboration with its JSE Sponsor, Vunani Sponsors, is expected to provide additional clarity and support to shareholders throughout the process.
Transparency and shareholder value are core principles for Premier Fishing and Brands Limited. The withdrawal of the cautionary announcement exemplifies the company’s commitment to keeping shareholders well-informed during the acquisition process. PFB will continue engaging with shareholders and stakeholders to ensure a seamless transition, should the acquisition receive approval.
Premier Fishing and Brands Limited, listed on the Johannesburg Stock Exchange under the share code PFB and the ISIN ZAE000247516, is a vital contributor to South Africa’s fishing industry. The company’s commitment to its shareholders’ interests will remain at the forefront as the Proposed Transaction progresses.