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Special sectionsIn the news | Franchising news Taste shares down on Fish & Chips disputeShares in diversified franchise company‚ Taste Holdings‚ dropped by as much as 9.38% on Wednesday, 8 August 2012, on news that the dispute of its acquisition of the Fish & Chip Co brand through its wholly-owned subsidiaries‚ Buon Gusto Cuisine could go on until late 2013. At 3:32pm‚ shares in Taste had dropped by 3.13% to R3.10. Over the last twelve months‚ the share price has tripled. The company said in a JSE Sens announcement that its attorneys had advised that they anticipated the matter to be heard in the latter part of 2013. "A dispute arose in regard to the set-off account‚ which consists primarily of deposits paid by prospective franchisees to the sellers. Buon Gusto referred this dispute to its auditors for determination‚ in accordance with the provisions of the agreement‚" Taste said. According to the announcement‚ the sellers thereafter purported to cancel the agreement and had issued summons in this regard. "Buon Gusto does not accept the purported cancellation and deems it to be entirely without foundation. It is defending the action and will file a counterclaim in due course. It is furthermore considering instituting various other actions to safeguard its rights‚" Taste said. SOURCE I-Net BridgeFor more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions. We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field. Go to: http://www.inet.co.za
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