TIGER Brands shareholders today approved resolutions to permit the unbundling
and independent listing of Tiger's agri-poultry businesses, which have been
placed in a new company named Astral Foods. Astral will be separately listed in
the food sector of the JSE on Monday.
The holders of 103,1-million or 62% of Tiger's 165,6-million shares in issue
voted at today's shareholders' meeting. Of these, 89,16-million favoured the
unbundling, while 13,97-million opposed it. Those in favour represented 86,45%
of the votes cast. This easily surpassed the simple majority required, enabling
the resolutions to be passed.
Tiger Brands chief executive Nick Dennis said he was delighted that the final
hurdle had been overcome by such a convincing margin.
He said Astral Foods would enjoy a bright future under its management team
headed by managing director Nick Wentzel. Meanwhile Tiger Brands looked forward
to completing its transformation into SA's leading brands company in food and
health care.
Ends
Issued by : David Carte, Meropa Communications (Pty) Ltd
Tel 011-784-1008, 082-440-2608
On behalf of : Meropa Communications (Pty) Ltd
Contact : Nick Dennis, managing director
Tel 011-320-0111, 083-252-6624
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