TIGER BRANDS LIMITED - Delisting and cancellation of repurchased ordinary shares of Tiger Brands
BUSINESS LIVE / 18 JANUARY 2018 - 13.25 / STAFF REPORTER
TBS Delisting and cancellation of repurchased ordinary shares of Tiger Brands TIGER BRANDS LIMITED ?Tiger Brands? or ?the Company? (Incorporated in the Republic of South Africa) (Registration number 1944/017881/06) Share code: TBS ISIN: ZAE000071080 DELISTING AND CANCELLATION OF THE REPURCHASED ORDINARY SHARES OF TIGER BRANDS Shareholders are referred to the approval at the general meeting held on Monday, 12 October 2009, of the ordinary and special resolutions relating to the Tiger Brands Phase II Black Economic Empowerment Transaction (?the Phase II BEE Transaction?) as set out in the circular to shareholders issued on Monday, 16 September 2009. In terms of the Phase II BEE Transaction, the Tiger Brands Black Managers Trust No. II (?BMT II?) and Brimstone, the latter via a special purpose vehicle, BrimTiger SPV (Pty) Ltd (?BrimTiger?), each acquired a number of Tiger Brands shares.
The shares acquired by the BMT II and BrimTiger were subject to a lock-in period, which expired on 31 December 2017. In terms of the agreements entered into with the BMT II and BrimTiger (and which are summarised in the Circular), the Company was entitled to repurchase a certain number of the Tiger Brands shares held by the BMT II and BrimTiger following expiry of the lock-in period.
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Shareholders are hereby informed that, in terms of the aforementioned agreements, Tiger Brands repurchased 1 389 685 and 861 257 Tiger Brands shares from the BMT II and BrimTiger respectively with effect from 1 January 2018.
The shares were repurchased at a price of R0,10 per share in the case of the BMT II and R7,40 per share in the case of BrimTiger. The repurchased shares represent 1,172% of the issued ordinary share capital of the Company. Tiger Brands confirms that the delisting and cancellation of the repurchased ordinary shares (?the cancellation?) have been approved by the JSE Limited and the shares will be cancelled with effect from today.
Post the cancellation, the issued share capital of Tiger Brands will be 189 818 926 ordinary shares. 18 January 2018 Johannesburg Sponsor: J.P. Morgan Equities South Africa Proprietary Limited Date: 18/01/2018 02:18:00 Produced by the JSE SENS Department.
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