March 29, 2022

K.L.E. Group Limited (KLE) has advised that in 2021, the Board of Directors took the decision to pursue T&R Restaurant Systems Limited (t/a Franjam), an associated company in which KLE owns a 49% stake, a restructuring of the Company’s operations with an effective date of July 1, 2021, conditional on obtaining the approval of its bankers. Formal agreement on the terms of the restructuring having been reached between KLE and Franjam, KLE sought and has obtained the approval of its bankers, allowing this announcement to be made.

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