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Cautionary Announcement regarding the Potential Disposal of Murrimo Macadamia Limitada and Murrimo Farming Limitada
Crookes Brothers Limited
(Incorporated in the Republic of South Africa)
(Registration number 1913/000290/06)
Share code: CKS ISIN: ZAE000001434
(Listed in the General Segment of the JSE Main Board)
(“Crookes Brothers” or “the Company” or “the Group”)
CAUTIONARY ANNOUNCEMENT REGARDING THE POTENTIAL DISPOSAL OF MURRIMO
MACADAMIA LIMITADA AND MURRIMO FARMING LIMITADA
Shareholders are referred to the Company’s audited annual financial statements for the year ended
31 March 2026 as published on 26 June 2026 (“Results”), wherein, inter alia, it was advised of the
decision by the board of directors of Crookes Brothers (“Board”) to commence the exit from Murrimo
Macadamia Limitada (“MML”).
Shareholders are advised that the Company has entered into negotiations regarding the potential sale
by the Group of its 100% interest in the issued share capital of MML and Murrimo Farming Limitada
(“MFL”), together with shareholder loans, for an aggregate consideration of US$2.00 (“Potential
Disposal”).
As noted in the Results, MML has a US$8 million 10-year term loan in place (“Loan”). As at the date of
this announcement, the total amount outstanding on the Loan amounts to US$5 million (plus interest of
approximately US$0.4 million), amounting to approximately R86.0 million (based on the prevailing
US$/ZAR exchange rate). Subject to the agreement of terms, implementation of the Potential Disposal
would accordingly result in the Loan being extinguished and derecognised in the consolidated financial
statements of the Group. The financial information contained in this announcement is the responsibility
of the directors of the Company and has not been reviewed by the Company’s auditors.
Negotiations regarding the Potential Disposal are ongoing. Accordingly, shareholders are advised to
exercise caution when dealing in the Company’s securities until a further announcement is made.
Durban
28 August 2026
JSE Sponsor to Crookes Brothers
Questco Corporate Advisory (Pty) Ltd
Date: 28/08/2026 13:41:00
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