REM - Remgro - Cautionary announcement - Remgro co
REM
REM
REM - Remgro - Cautionary announcement - Remgro considers restructuring
Remgro Limited
(Incorporated in the Republic of South Africa)
(Registration number 1968/006415/06)
ISIN: ZAE000026480
Share code: REM
("Remgro" or "the Company")
CAUTIONARY ANNOUNCEMENT - REMGRO CONSIDERS RESTRUCTURING
Remgro announces that it is considering a restructuring of the group to split
its tobacco assets from its other interests. The group currently holds an
indirect interest of 10,6% in British American Tobacco plc ("BAT"). The
options being considered for the restructuring may entail providing the Remgro
shareholders with the option of becoming direct shareholders in BAT.
The proposed restructuring reflects impending changes in the legal and fiscal
environment in Luxembourg. Remgro holds its interest in BAT through a
Luxembourg "1929" holding company, R&R Holdings SA. The special status of such
"1929" holding companies will be abolished at the end of 2010.
The plans for this possible restructuring remain subject to further review and
regulatory approvals to implement the desired outcome. There can be no
certainty that any such review would lead to a proposal being announced or that
any eventual proposal will have the features outlined above.
A further announcement will be made when appropriate. No further comment will
be made until such time.
Shareholders are advised to exercise caution when dealing in their securities,
until a further announcement is made.
19 November 2007
Cape Town
Merchant bank and sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 19/11/2007 07:00:43 Produced by the JSE SENS Department.
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