How did things go so bad so quickly for Gold Brands Investments?
Listed on the AltX in 2016 and its listing got terminated in 2019.
Gold Brands owned 7 brands with crown jewels being Fish & Chips Co, ChesaNyama and Black Steer which were (all 3) later sold cheaply to stay alive
Listed on the AltX in 2016 and its listing got terminated in 2019.
Gold Brands owned 7 brands with crown jewels being Fish & Chips Co, ChesaNyama and Black Steer which were (all 3) later sold cheaply to stay alive
Gold Brands Investments listed 110million shares at R1 each.
41.02% was in the hands of founders Stelio and Praxia Nathanael,
41.02% held by Circle Food Group and
remaining 17,96% were taken up by the public, franchisees and suppliers in a private placement.
41.02% was in the hands of founders Stelio and Praxia Nathanael,
41.02% held by Circle Food Group and
remaining 17,96% were taken up by the public, franchisees and suppliers in a private placement.
Gold Brands founded the Fish & Chip Co franchise business in 2009.
2012, Gold Brands sold Fish & Chips Co toTaste Holdings for R66m.
Gold Brands also tried to have the deal cancelled after selling it🤣
Taste Holdings later disposed of its food business.
2012, Gold Brands sold Fish & Chips Co toTaste Holdings for R66m.
Gold Brands also tried to have the deal cancelled after selling it🤣
Taste Holdings later disposed of its food business.
https://twitter.com/MaanoMadima/status/1439902424878157832?t=lG7wxyGJU0mlEpnMsWsXKQ&s=19
Black Steer brand was sold to Laudium Future Equity owned by Christopher van Zyl (41%) and Thys Marcel van Zyl (41%) for R3.2m
As at 28 Feb 2018, Black Steer’s net asset value was R3.34m.
Black Steer had ~17-store steakhouse chain.
As at 28 Feb 2018, Black Steer’s net asset value was R3.34m.
Black Steer had ~17-store steakhouse chain.
In 2019, Gold Brands also sold Chesanyama (consisting of a minimum of 84 stores) for R14m to Laudium Future Equity.
ChesaNyama's net assets subjected to the disposal was R4.3m and the
loss attributable to those assets was R16m.
ChesaNyama's net assets subjected to the disposal was R4.3m and the
loss attributable to those assets was R16m.
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