PHUMELELA have acquired a 50% interest in Supabets for R437 million.

Phumelela shareholders were referred to paragraph 4.1 of the circular posted on 19 August 2016 relating to the acquisition by Phumelela of a 50% interest in Supabets SA Holdings Proprietary Limited from the Anastassopoulos family wherein it was advised that once the sustainable net profit after tax (“Sustainable NPAT”) achieved for the 12 month period from 1 March 2015 to 29 February 2016 had been agreed between Phumelela, KPMG and the AF and the resultant purchase consideration calculated, this would be communicated to Shareholders.

Phumelela can confirm that the Sustainable NPAT has been agreed and is in the amount of R94.5 million.

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