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TBS
TIIH
TBS - Tiger Brands Limited - Update on the separation of the company`s
healthcare interests and renewal of cautionary announcement
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
UPDATE ON THE SEPARATION OF THE COMPANY`S HEALTHCARE INTERESTS AND RENEWAL OF
CAUTIONARY ANNOUNCEMENT
Shareholders are referred to various cautionary announcements with the most
recent one being published on 26 September 2007. In terms of these
announcements, shareholders were advised that Tiger Brands was evaluating all
options with regard to the separation of the Company`s healthcare interests
("Adcock Ingram"), which could include a potential sale, or unbundling and
separate listing of the pharmaceutical and hospital products businesses,
either individually or on a combined basis.
Tiger Brands embarked on a formal sales process in respect of Adcock Ingram.
Several non-binding bids were received for the whole and parts of Adcock
Ingram from both domestic and international parties. Tiger Brands has
considered both the qualitative and quantitative aspects of the non-binding
offers and has decided that an unbundling and separate listing of Adcock
Ingram on the JSE Limited ("JSE") would best serve the interests of its
shareholders.
In the announcement published on 20 April 2007, Tiger Brands stated that it
would consider retaining certain brands that are marketed and sold through the
consumer well-being division of Adcock Ingram. Tiger Brands has now concluded
that these brands will be retained by Adcock Ingram and, consequently, will
form part of the total healthcare interests to be unbundled.
The Company is proceeding with the formalities relating to the unbundling,
including the finalisation of legalities with principals, and expects to
complete the unbundling and listing of Adcock Ingram on the JSE by 31 March
2008.
Shareholders are reminded to continue to exercise caution in their dealings in
the securities of the Company until such time as a further announcement is
made.
Sandton
6 November 2007
Financial advisor and transaction sponsor
UBS South Africa (Pty) Ltd
SponsorJ.P. Morgan Equities Limited
Date: 06/11/2007 16:00:03 Produced by the JSE SENS Department.
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