TIGER BRANDS LIMITED - Delisting and cancellation of repurchased ordinary shares of Tiger Brands

January 22, 2018

BUSINESS DAY / 18 JANUARY 2018 - 14:18 PM / JSE SENS

 

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.

 

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. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

 

 

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LINK : https://www.businesslive.co.za/story/?resource_id=SENSIN_20180118061800_53

 

Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER

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