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PREMIER FISHING PARENT IN NEW BBBEE INVESTMENT

Black economic empowerment company, Sekunjalo Investments, announced in December it had acquired a R95 million (0.75%) stake in listed Pioneer Foods Group Limited, of which Premier Fishing is one of its subsidiaries.  The deal is 90% vendor financed – 10% of the funds coming from Sekunjalo Investments and 90% from RMB and Pioneer Foods. There is a lock-in period of seven years. Sekunjalo Investments chairman, Iqbal Survé has been a member of the Pioneers Foods Group board for several years.