| Tue 2 Sep 2008, 10:37 | | TBS - Tiger Brands Limited - Unbundling of Adcock Ingram Holdings Limited |
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TBS
TIIH
TBS - Tiger Brands Limited - Unbundling of Adcock Ingram Holdings Limited
("Adcock Ingram") - Apportionment ratio for tax purposes
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
UNBUNDLING OF ADCOCK INGRAM HOLDINGS LIMITED ("ADCOCK INGRAM") - APPORTIONMENT
RATIO FOR TAX PURPOSES
Introduction
In the circular issued to Tiger Brands shareholders on 29 July 2008, Tiger
Brands informed its shareholders of the proposed unbundling and distribution of
the ordinary shares in Adcock Ingram ("Adcock Ingram shares") to Tiger Brands
shareholders recorded in the register as at the close of business on Friday, 29
August 2008 (the "unbundling record date"), to be effected by way of a dividend
in specie in terms of section 46 of the Income Tax Act, 1962 (No. 58 of 1962),
as amended ("the Act`), in the ratio of one Adcock Ingram share for every Tiger
Brands share held on the unbundling record date.
The purpose of this announcement is to notify Tiger Brands shareholders of the
closing prices of Adcock Ingram shares and Tiger Brands shares on Monday, 1
September 2008, the first trading day after the unbundling record date, and the
ratio in which the expenditure incurred and/or the valuation of the Tiger Brands
shares must be allocated to the Adcock Ingram shares and the Tiger Brands shares
(the "apportionment ratio") for taxation purposes.
The potential South African taxation considerations for shareholders are set out
in paragraph 19 of the Tiger Brands circular. Shareholders are, however, advised
in all circumstances to seek their own advice regarding taxation.
Apportionment ratio and closing share prices
The apportionment ratio for purposes of section 46 of the Act is 78.79% relating
to a Tiger Brands share and 21.21% to an Adcock Ingram share, based on the
closing share prices of Tiger Brands and Adcock Ingram as at 17:00 on 1
September 2008 of R133.00 and R35.80, respectively.
Bryanston
2 September 2008
Financial adviser
UBS South Africa (Pty) Ltd
Independent SponsorJP Morgan Equities Limited
Date: 02/09/2008 10:37:02 Produced by the JSE SENS Department.
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