| Wed 9 Jun 2010, 14:01 | | SAB - SABMiller Plc - Broad-Based Black Economic Empowerment Transaction |
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SAB
SOSAB
SAB - SABMiller Plc - Broad-Based Black Economic Empowerment Transaction
In South Africa
SABMiller Plc
JSEALPHA CODE: SAB
ISSUER CODE: SOSAB
ISIN CODE: GB0004835483
9 June 2010
Broad-Based Black Economic Empowerment transaction in South Africa
SABMiller plc ("SABMiller") is pleased to announce the issue of shares in
the group`s South African subsidiary, The South African Breweries Limited
("SAB") pursuant to the group`s broad-based black economic empowerment
transaction in South Africa ("the Transaction"), which was announced on 1
July 2009 and approved by shareholders on 15 January 2010.
A total of 46,173,000 new shares in SAB, representing 8.45% of SAB`s
enlarged issued share capital, have been issued to the three participant
groups: SAB employees; black-owned licensed liquor retailers and retail
liquor licence applicants, as well as registered black-owned customers of
ABI, the soft drinks division of SAB; and the broader South African
community through a newly established SAB Foundation.
SAB`s employees in aggregate now own 3.39% of SAB through The SAB Zenzele
Employee Trust. Retailers in aggregate own 3.52% of SAB through an
investment entity, SAB Zenzele Holdings Limited ("SAB Zenzele"), and The
SAB Foundation owns 1.54% of SAB.
The offer of SAB Zenzele ordinary shares to qualifying participants (the
"Retailer Offer") closed on 28 April 2010. Qualifying participants were
invited to apply for 19,228,250 ordinary shares in SAB Zenzele. The offer
attracted over 33,000 applications and was 29% oversubscribed. Following
the allocation process, this has resulted in the introduction of a broad
base of 29,542 new black shareholders in SAB Zenzele.
In addition, participation rights in The SAB Zenzele Employee Trust have
been allocated to 9,416 of SAB`s employees and SABMiller group employees
resident in South Africa.
Full details of the transaction structure can be found in the circular
issued to shareholders in December 2009, which is also available at
www.sabmiller.com. Further details of the transaction can also be found
on SAB`s website (www.sablimited.co.za).
SABMiller is being advised in connection with the transaction by Standard
Bank as Investment Bank, and by Bowman Gilfillan (South Africa) and Hogan
Lovells International LLP (UK) as legal advisors.
ENDS
About SABMiller
SABMiller is one of the world`s largest brewers with brewing interests
and distribution agreements across six continents. The group`s wide
portfolio of brands includes premium international beers such as Pilsner
Urquell, Peroni Nastro Azzurro, Miller Genuine Draft and, Grolsch, as
well as leading local brands such as Aguila, Castle, Miller Lite, Snow
and Tyskie. SABMiller is also one of the world`s largest bottlers of Coca-
Cola products.
In the year ended 31 March 2010, the group reported US$3,803 million in
adjusted pre-tax profit and group revenue of US$26,350 million. SABMiller
is listed on the London and Johannesburg stock exchanges.
This announcement is available on the company website and high resolution
images are available for the media to view and download free of charge
from the Image Library in the News and media section of
www.sabmiller.com.
About SAB
SAB was established in 1895 and has in the region of 9,400 permanent
employees, including its soft drinks division, ABI. It owns seven
breweries with a brewing capacity of some 31 million hectolitres. Total
beer volumes during the financial year ended 31 March 2010 were 25.8
million hectolitres. ABI is the largest producer and distributor of Coca-
Cola brands in southern Africa. With five manufacturing plants in South
Africa, ABI accounts for approximately 60% of Coca-Cola`s sales in South
Africa, and total sales volumes of soft drinks in the year ended 31 March
2010 (including sparkling soft drinks, fruit juices and water) were 17
million hectolitres. SAB is a South African subsidiary of SABMiller. For
more information, visit the company`s website: www.sablimited.co.za
SABMiller`s history of Broad-Based Black Economic Empowerment in South
Africa
SABMiller has been actively engaged in the advancement of black economic
empowerment initiatives in South Africa since the 1970`s. The group has
progressed a number of initiatives in all spheres of black economic
empowerment, including: ownership, through the creation of Tsogo Sun
Holdings in a landmark black economic empowerment ownership transaction
in the hotel and gaming industry; enterprise development, through the
establishment of a number of benchmark programmes such as SAB`s Owner-
Driver programme, the SAB KickStart Awards (funding and mentoring of
aspirant businesses), the Taung barley farmers programme, the
establishment of joint ventures with black partners to supply certain key
raw materials; SAB`s Mahlasedi Taverner Training programme; and human
resources development, through the implementation of employment equity
practices.
In addition, SAB has placed significant focus on procurement equity
throughout its value chain. The company embarked an aggressive black
economic empowerment campaign during the 1980s in an effort to place a
considerable portion of its business with black suppliers. Today, in its
procurement, outsourcing and contract-awarding activities, SAB favours
those companies which have demonstrated a tangible and deliverable
commitment to black economic empowerment principles.
Enquiries:
SABMiller Tel: +44 20 7659 0100
Sue Clark Director of Corporate Tel: +44 20 7659 0184
Affairs
Gary Leibowitz Senior Vice Tel: +44 20 7659 0174
President, Investor
Relations
Nigel Fairbrass Head of Media Tel: +44 7799 894265
Relations
SAB
Vincent Maphai Executive Director of Tel: +27 11 881 8503
Corporate Affairs and
Transformation
Robyn Chalmers Communications Tel: +27 11 881 8502
Manager
Date: 09/06/2010 14:01:02 Produced by the JSE SENS Department.
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