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Grand Parade wants to stop speculation

Aug 21 2013 16:11


Company Data


Last traded 3
Change 0
% Change -5
Cumulative volume 299837
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

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Cape Town - Shareholders of Grand Parade Investments [JSE:GPL] (GPI) are referred to the cautionary announcement dated August 15 2013.

In order to avoid any speculation, GPI hereby confirms to shareholders that GPI has entered into negotiations with Peermont Global Limited to acquire a strategic stake in Peermont.

If successfully concluded, this may have a material effect on the price of the company's securities.

It is important to note that although the negotiations are at a fairly advanced stage, there is no guarantee that they will come to fruition or that a transaction will be agreed.

Accordingly, shareholders are advised to exercise caution when dealing in the company's securities until a full announcement is made in this regard.

When GPI issued a cautionary notice to shareholders, it caused its shares to jump as investors were wondering about a possible major deal.

GPI holds a significant minority stake in Sun International’s SunWest.

Grand Parade Investments was in the news towards the end of last year when it confirmed that it had been awarded the master franchise agreement for Burger King in South Africa.

grand parade investments  |  investments


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