Spur, John Dory’s settle legal dispute

The legal disputes between Spur and certain of its directors (on one hand) and Stamatis Kapsimalis, the MD of John Dory’s Franchise (Pty) Ltd, and his family trust (on the other hand) have been settled.
In terms of the settlement announced today all litigation between the parties has been terminated and a wholly-owned subsidiary of Spur has acquired the Kapsimalis Family Trust’s 35% interest in John Dory’s with effect from yesterday for R12.25-million.
Spur is now the owner of the entire issued share capital of John Dory’s.
John Dory’s simultaneously declared and paid a dividend to Spur of R3.25-million and to the Kapsimalis Family Trust of R1.75-million.