Mr Price granted approval for ZAR 130m foreign aid

Mr Price Group Limited (JSE:MRP) has announced that its Board of Directors has authorized the company to provide financial assistance, up to a maximum of ZAR 130 million, to its foreign subsidiary. This authorization is valid from now until the conclusion of the financial period ending March 28, 2026. The company states this action is compliant with Section 45(5) of the Companies Act, 71 of 2008. The board has confirmed due consideration was given to solvency and liquidity requirements. Shareholder approval, according to Section 45(3) of the Act, was obtained at the August 2024 annual general meeting. Investec Bank Limited acted as JSE Equity Sponsor and Corporate Broker for the company.