36ONE Asset Management has acquired a significant holding in Famous Brands Limited. The acquisition pushes its stake to 8.89%. This transaction was completed on 2 July 2024. The company has complied with all regulatory requirements.
Key Details
- Company: Famous Brands Limited
- JSE Share Code: FBR
- ISIN Code: ZAE000053328
- Acquisition Date: 2 July 2024
- Acquiring Entity: 36ONE Asset Management
- New Stake: 8.89%
Compliance with Regulatory Requirements
Famous Brands Limited followed the necessary legal protocols. In compliance with Section 122(3)(b) of the Companies Act, the company made the required disclosures. The Listings Requirements of the JSE also mandated this disclosure.
Details of the Acquisition
36ONE Asset Management, on behalf of its clients, acquired a beneficial interest in Famous Brands securities. This acquisition increased its total beneficial interest to 8.89%. This substantial holding reflects confidence in the company’s future performance.
Conclusion
The acquisition of a significant stake by 36ONE Asset Management is a noteworthy development for Famous Brands. It reflects confidence in the company’s potential and future growth. Famous Brands has adhered to all regulatory requirements, ensuring transparency. The increased stake by 36ONE is expected to have a positive market impact. This development bodes well for the company’s future prospects.