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

Release Date: 18/01/2018 14:18
Code(s): TBS     PDF:  
Wrap Text
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

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