Famous Brands Limited recently witnessed a significant development as an associate of one of its directors, Mr. Deon Fredericks, acquired a substantial number of Famous Brands ordinary shares. The on-market purchase, conducted by DJF Investment Trading CC, of which Mr. Fredericks is the sole member, amounted to 15,000 contracts for difference (CFDs), representing an equivalent number of Famous Brands shares.
The acquisition, which received clearance for the director’s indirect beneficial interest, was valued at a total of R871,034.46. The transactions took place on 14 July 2023, with prices per security ranging from R57.80 to R58.20, including the Standard Bank market maker spread. The volume-weighted average price (VWAP) per security was calculated at R58.07.
Below is a breakdown of the transaction details:
| Director | Associate | Class of Securities | Nature of Interest | Clearance Received | Date of Transactions | Nature of Transactions | Number of Securities | Highest Price per Security | Lowest Price per Security | VWAP per Security | Transaction Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Mr. Deon Fredericks | DJF Investment Trading CC | Famous Brands ordinary shares | Indirect beneficial | Yes | 14 July 2023 | On-market purchase of 15,000 contracts for difference representing 15,000 Famous Brands shares | 15,000 | R58.20 | R57.80 | R58.07 | R871,034.46 |
The acquisition of Famous Brands shares by Mr. Fredericks’ associate sends a positive signal to shareholders and potential investors, suggesting confidence in the company’s future prospects. Such investments are often interpreted as a vote of confidence in the company’s growth potential and can influence market sentiment.
Famous Brands Limited, a prominent player in the South African food industry, operates a diverse portfolio of well-known brands, including Steers, Debonairs Pizza, Wimpy, and Mugg & Bean. With an extensive presence in South Africa and an international footprint, the company has established itself as a leading franchisor in the quick-service restaurant sector.
Market observers and investors will closely monitor the impact of this acquisition on Famous Brands’ share price and overall market sentiment. While it is difficult to predict the exact outcome, this transaction may provide valuable insights into the market’s confidence in the company’s performance.
Dealing in securities by company insiders or their associates is subject to strict regulations to ensure transparency and prevent market abuse. The acquisition by DJF Investment Trading CC adhered to all relevant compliance procedures, as stated in the announcement.
