NUTRITIONAL HOLDINGS LIMITED

(Registration number: 2004/002282/06)

(Incorporated in the Republic of South Africa) (Share Code: NUT ISIN Code: ZAE000298568)

("the Company" or "Nutritional Holdings")

FURTHER UPDATE ANNOUNCEMENT REGARDING LIQUIDATION PROCEEDINGS

Shareholders are referred to the previous SENS announcement dated 10 August 2022 regarding the opposition to granting of the final liquidation of the Company as well as the defence of the application for the provisional liquidation of Nutritional Foods Proprietary Limited ("NF").

In order to provide more clarity, shareholders are referred to the table below:

Details

Nutritional Holdings

Nutritional Foods

Former director and

Mr Anthony (Tony) Richard

Mr Anthony (Tony) Richard

shareholder who initiated

Pinfold through Pop-Up

Pinfold through Pop-Up

the Liquidation application

Trading 39 (Pty) Ltd ("Pop-

Up")

High Court and Judge

Kwa-Zulu Natal Local

North-West High Court

Division

Mafikeng

Honourable Mr Justice

Judge Snyman

Lopes

Shareholder contesting the

Mr Nico Oosthuizen

Mr Nico Oosthuizen CA(SA)

Liquidation application

CA(SA) through Ontario

through Ontario Private Equity

Private Equity (Pty) Ltd on

(Pty) Ltd on behalf of NF

behalf of the Company

Terms and Conditions of

Kurt Knoop has been

The court hearing was held on

Liquidation order

appointed as liquidator.

11 August 2022 and the matter

An application is being

was successfully postponed to

made to set aside the final

16 February 2023

liquidation order as

detailed on SENS on 10

August 2022.

Finalisation of Liquidation

The matter is being

As above

opposed and application

made to set the order

aside

Expected distribution to

If successful, no distribution

Unknown at this point in time

shareholders

would be expected to

unsecured creditors or

shareholders.

Assets held

Shares in NF and

Property, Plant and Equipment

Ukusekela

from which the food

manufacturing operations are

conducted as a going

concern

Loan and security

Loan from Pop Up,

Shareholder loan from

secured by a notarial

Nutritional Holdings

bond, procedural

outcome thereto is being

investigated and

challenged at present.

Shareholders will be advised on any further progress regarding the above matters.

By order of the Board

Durban

18 August 2022

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Nutritional Holdings Limited published this content on 18 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 August 2022 15:43:10 UTC.