TIGER BRANDS LIMITED - Class action against Tiger Brands is certified

Release Date: 03/12/2018 11:30
Code(s): TBS
 
Wrap Text
Class action against Tiger Brands is certified

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


Class action against Tiger Brands is certified

Shareholders are referred to the SENS announcements issued by
the Company on 14 August 2018 and 22 November 2018
respectively, which provided an update on the progress of the
class action certification process. This further announcement
is to advise shareholders that, on 3 December 2018, the High
Court of South Africa, Johannesburg Local Division granted an
order certifying a class action against Tiger Brands.

The applicants have been directed to give notice of the class
action to members of the classes.

The parties shall share the costs of the publication in
relation to this notice and of a national toll-free call
centre; provided that the Company’s liability in respect of
these costs is limited to a maximum of R1 000 000 (“one
million Rand”). Such contribution is made as a gesture of
goodwill and without any admission of liability.

As previously advised, the class action will be conducted in
two stages. In the first stage, the respondents’ liability, if
any, to the classes will be determined. If any class is
successful in the first stage, then the class action will
proceed to the second stage. Only members of the classes who
opt-in at the second stage will benefit from the class action
against the respondents who are found to be liable.

Now that certification is complete, the applicants will issue
summons to start the class action.

The Company continues to work to ensure that the entire
process is managed as efficiently as possible.

Bryanston
3 December 2018

Sponsor
J.P. Morgan Equities South Africa Proprietary Limited

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