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CBH
CBH
CBH - Country Bird - Evaluation by country bird of strategic alternatives
relating to its shareholding in sovereign food investments limited and further
cautionary announcement
Country Bird Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 2005/008505/06)
Share Code: CBH & ISIN: ZAE000094835
("Country Bird" or "the Company")
EVALUATION BY COUNTRY BIRD OF STRATEGIC ALTERNATIVES RELATING TO ITS
SHAREHOLDING IN SOVEREIGN FOOD INVESTMENTS LIMITED AND FURTHER CAUTIONARY
ANNOUNCEMENT
Shareholders are referred to the Country Bird announcement dated 14 May 2009
wherein the Board of Directors of Country Bird disclosed that the Company had,
through a series of open market transactions, acquired 4 411 540 ordinary shares
in the issued share capital of Sovereign Food Investments Limited ("Sovereign
Foods"), representing an approximate 13.4% interest in Sovereign Foods.
Shareholders are further referred to the joint announcement by Sovereign Foods
and Afgri Limited, detailing a potential transaction between the aforementioned
companies (the "proposed Afgri transaction").
Country Bird wishes to reiterate its current status of diligently evaluating its
strategic alternatives with respect to its shareholding in Sovereign Foods.
As one of a number of strategic alternatives, Country Bird is currently
considering potentially extending an offer to all shareholders of Sovereign
Foods to acquire the entire issued share capital, which offer would potentially
be implemented to the exclusion of the proposed Afgri transaction. The key terms
of a potential offer are in the process of being finalised. In this regard,
Country Bird wishes to act in a responsible manner to the benefit of all
stakeholders and in compliance with all regulatory requirements, which it is in
the process of doing.
Country Bird wishes to reiterate that this announcement does not constitute a
firm intention to make an offer for the purposes of the Securities Regulation
Code on Takeovers and Mergers. Any decision to proceed with an offer is subject
to an internal strategic review by Country Bird and appropriate discussions with
the Board of Directors of Sovereign Foods.
Further to the cautionary detailed in the SENS announcement of 14 May 2009,
shareholders are advised to continue to exercise caution when dealing in the
Company`s securities until a further announcement is made.
20 May 2009
Johannesburg
Investment bank and transaction sponsor
Standard Bank
Sponsor
Investec Bank Limited
Date: 20/05/2009 17:13:04 Produced by the JSE SENS Department.
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