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Oceana/ Brimstone/ Tiger - Proposed waiver of mandatory offer: Ruling by the SRP OCEANA GROUP LIMITED (Incorporated in the Republic of South Africa) Registration Number 1939/001730/06 Share code: OCE NSX share code: OCG ISN: ZAE000025284 ("Oceana") BRIMSTONE INVESTMENT CORPORATION LIMITED (Incorporated in the Republic of South Africa) Registration Number 1995/010442/06 Share code: BRT; ISIN: ZAE000015277 Share code: BRN; ISIN: ZAE000015285 ("Brimstone") TIGER BRANDS LIMITED (Incorporated in the Republic of South Africa) Registration Number 1944/017881/06 Share code: TBS ISN: ZAE000071080 ("Tiger") PROPOSED WAIVER OF MANDATORY OFFER BY TIGER AND BRIMSTONE TO OCEANA SHAREHOLDERS: RULING BY THE SECURITIES REGULATION PANEL Oceana shareholders are referred to an announcement released on the Securities Exchange News Service of the JSE Limited on 7 July 2006 and published in the press on 10 July 2006, inviting Oceana shareholders to provide written submissions to the Executive Director of the Securities Regulation Panel ("SRP") by 17 July 2006, as to why the SRP should not consent to waive the requirement that Tiger and Brimstone extend a mandatory offer to minority Oceana shareholders, as required in terms of the Securities Regulation Code on Takeovers and Mergers, at a price of R15,21 (fifteen rand and twenty one cents) per Oceana ordinary share subsequent to the conclusion of a voting pool agreement between Tiger and Brimstone, a copy of which lay for inspection. The Executive Director of the SRP has not received any submissions and, consequently, the SRP has waived the requirement that Tiger and Brimstone extend a mandatory offer to minority Oceana shareholders. 17 July 2006 Investment bank and sponsor to Oceana Standard Bank Corporate law adviser Edward Nathan Sponsor to Tiger J.P. Morgan Equities Limited Sponsor to Brimstone Nedbank Capital Date: 17/07/2006 04:07:11 PM Supplied by www.sharenet.co.za Produced by the JSE SENS Department
