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Grand Parade Investment withdraws Spur cautionary

Nov 27 2016 13:00

Johannesburg - Grand Parade Investments (GPI) advised shareholders that the potential acquisition of additional ordinary shares in Spur Corporation will no longer proceed.

Shareholders are referred to the Sens announcement published on 31 October 2016 in relation to this potential acquisition of additional ordinary shares in Spur Corporation.

The board of GPI has been advised that certain shareholders will not be supporting the proposed transaction and hence will not achieve the requisite shareholder approvals necessary to implement the transaction.

GPI said it remains a committed shareholder of Spur and will continue to seek opportunities to work with Spur to further enhance this relationship.

Given that the proposed transaction will no longer proceed, caution is no longer required to be exercised by shareholders when dealing in the Company's securities.

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