BFG capital return to shareholders – update

CAPITAL RETURN TO SHAREHOLDERS UPDATE NEW DATE FOR HIGH COURT HEARING AND UPDATED TIMETABLE In connection with the proposed scheme of arrangement relating to the return of capital to shareholders as announced on 27 October 2023 and as approved by shareholders at a special shareholder meeting on 14 December 2023 (Scheme), Burger Fuel Group Limited (BFG) advises that the High Court hearing relating to BFG's originating application for final orders approving the Scheme previously scheduled for 5 February 2024 has been adjourned and the hearing is now scheduled for 10am on 8 May 2024 (Hearing Date). The adjournment and re-scheduling of the hearing relates to the notice of opposition to the application that has been filed by a shareholder, as notified to the market on 18 February 2024, as well as a notice of appearance in the application filed by a second shareholder. BFG has not opposed an adjournment to provide those shareholders with further time to review relevant materials. BFG advises shareholders that, in accordance with the direction of the High Court: oany shareholder wishing to be heard on BFG's originating application must file a notice of appearance or a notice of opposition (as applicable and in either case containing an address for service) (Notice) no later than 45 working days before the Hearing Date. oBFG must serve copies of all documents filed in support of its originating application by 5pm on the next working day after service of any Notice. oany shareholder that has filed or files a Notice (the Shareholder Respondents) must file and serve any evidence in support of their appearance or opposition no later than 35 working days prior to the Hearing Date. oBFG must file and serve any evidence in reply to evidence filed by the Shareholder Respondents no later than 20 working days prior to the Hearing Date. oBFG must file and serve its submissions, an indexed and paginated hardcopy bundle of relevant documents (an electronic bundle is not required) and a hardcopy bundle of authorities no later than 10 working days prior to the Hearing Date. othe Shareholder Respondents must file and serve their submissions and a hardcopy bundle of any further authorities no later than five (5) working days prior to the Hearing Date. The Board of BFG continues to believe that the tax free capital return of approximately $4.077 million (as detailed in the 15 November 2023 notice of meeting and related documents), which was approved by shareholders on 14 December 2023, is in the best interests of the company and its shareholders. Below is an updated indicative timetable for the implementation of the scheme of arrangement. This updated indicative timetable replaces the indicative timetable provided at paragraph 2.7 of the Explanatory Notes to the Notice of Special Meeting. BFG will keep the market updated of any changes to this revised indicative timetable. High Court hearing date Wednesday 8 May 2024 Final orders made by High Court Wednesday 29 May 2024 Record Date 5:00pm, Thursday 6 June 2024 (five business days after the date on which the final orders from the High Court are made) Payment to shareholders By Thursday 20 June 2024 (within 10 business days after the Record Date) ENDS Mark Piet Chief Financial Officer, Burger Fuel Group Limited Mark.Piet@Burgerfuel.com Phone 021 453 333 End CA:00425370 For:BFG Type:MKTUPDTE Time:2024-01-26 16:38:11