Further to the Acquisition Announcement, the Company’s board of directors is pleased to advise that all conditions precedent have been fulfilled and the Acquisition has become unconditional. The effective date of the Acquisition is 1 February 2016.

RFG Foods Holdings produced a strong trading performance in the year to September 2015 and increased normalised diluted headline earnings per share by 136% to 83.9 cents.

In terms of the Listings Requirements of the JSE Limited (“JSE”), companies are required to publish a trading statement as soon as they are satisfied, with a reasonable degree of certainty, that the financial results for the period to be reported on next will differ by at least 20% from the financial results for the previous corresponding reporting period.

Shareholders are advised that the Company’s wholly owned subsidiary, RFG Foods Proprietary Limited (“Rhodes Food“) and Ali Baba have entered into an agreement (“Agreement“) dated 30 October 2015 in terms of which Rhodes Food will acquire the business assets of Ali Baba (“the Acquisition“).

Shareholders are advised that the Company’s wholly owned subsidiary RFG Foods Proprietary Limited (“Rhodes Food” or “the Purchaser”) and General Mills have entered into an agreement (“Agreement”) dated 30 September 2015 in terms of which Rhodes Food will acquire the Foodservice business of General Mills from General Mills (“the Acquisition”).

Rhodes, the brand known for quality, innovation and convenience, announced the launch of its new 100% fruit juice range today. Comprising 13 great tasting flavours, the juice is packaged in a long-life carton that allows it to retain its true flavour, without the need for preservatives or added sugar.

Shareholders are referred to the announcement released on the Stock Exchange News Service of the JSE Limited (“SENS”) on 20 February 2015 (“Acquisition Announcement”) regarding the Company’s wholly owned subsidiary, RFG Foods Proprietary Limited (“Rhodes Food”) having concluded an agreement relating to the acquisition by Rhodes Food of the business assets of Deemster from Deemster (“Deemster Acquisition”), which acquisition was subject to the fulfilment or waiver, as the case may be, of
certain conditions precedent.

Groot Drakenstein – Recently listed RFG Foods Holdings today reported an increase of 117% in normalised headline earnings per share to 36.6 cents in its maiden interim results for the six months to March 2015.