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Tiger Brands - Implementation and results of the odd-lot offer
Tiger Brands Limited
(Incorporated in the Republic of South Africa)
(Registration number 1944/017881/06)
(Share code: TBS ISIN: ZAE000023560)
(Share code: TBSP ISIN: ZAE000023578)
("Tiger Brands")
Implementation and results of the odd-lot offer
1. Implementation of the odd-lot offer
Ordinary shareholders are advised that the odd-lot offer to ordinary
shareholders, who held fewer than 100 ordinary shares in Tiger Brands ("odd-lot
holders") at 16:00 on Friday, 25 October 2002 ("odd-lot holdings"), has been
duly implemented.
2. Results of the odd-lot offer
The total number of ordinary shares, made available by those odd-lot holders who
elected to sell their odd-lot holdings and by those who failed to make an
election and who were therefore deemed to have sold their odd-lot holdings, is
82 603 ordinary shares which have been repurchased by Tiger Brands, in terms of
a specific authority granted at the general meeting held on Tuesday, 8 October
2002, at R70.60 per ordinary share (being the offer price of R67.23 per ordinary
share plus a 5% premium) for a total consideration of R5 831 772. These ordinary
shares will be cancelled, delisted and restored to the status of authorised
ordinary share capital.
The total number of ordinary shares purchased by those odd-lot holders who
elected to purchase sufficient additional ordinary shares to increase their odd-
lot holdings to holdings of 100 ordinary shares is 28 307 ordinary shares which
have been issued by Tiger Brands for a cash consideration of R1 903 080, in
terms of a specific authority granted at the general meeting held on Tuesday, 8
October 2002, at R67.23 per ordinary share. The listing of these ordinary shares
has been approved by the JSE Securities Exchange South Africa.
3. Odd-lot holders who hold certificated ordinary shares
In respect of those odd-lot holders who hold certificated ordinary shares and
who elected to purchase additional ordinary shares, new share certificates (if
requested) will be posted, against surrender of existing documents of title, on
Monday, 28 October 2002. Cheques and electronic transfers in respect of the sale
of odd-lot holdings will be posted to the relevant odd-lot holders or effected
on or from Monday, 28 October 2002, by post or first class mail (United Kingdom)
or electronic banking, at the risk of such odd-lot holders and against surrender
of their relevant documents of title.
All odd-lot holders who elected to sell their odd-lot holdings or who failed to
make an election and who were therefore deemed to have sold their odd-lot
holdings and who have not submitted their relevant documents of title to either
the South African transfer secretaries, Computershare Investor Services Limited,
Ground Floor, 70 Marshall Street, Johannesburg, 2001 (PO Box 1053, Johannesburg,
2000) or the United Kingdom transfer secretaries, Computershare Investor
Services plc, PO Box 82, The Pavilions, Bridgewater Road, Bristol, BS99 7NH, are
reminded to do so in order for their payments, in respect of their sold odd-lot
holdings, to be released or effected. These odd-lot holders are also reminded
that their documents of title will no longer be good for trading after Friday,
25 October 2002.
4. Odd-lot holders who hold dematerialised ordinary shares
Any movement in the number of ordinary shares held and amounts
payable/receivable by an odd-lot holder who has dematerialised his/her ordinary
shares, as a result of the implementation of the odd-lot offer, will be
automatically updated and debited/credited in the odd-lot holder`s account with
the Central Securities Depository Participant or broker selected by that odd-lot
holder on Monday, 28 October 2002.
Sandton
28 October 2002
Financial adviser and transaction sponsor
ING INVESTMENT BANKING
Corporate law advisers and consultants
Edward, Nathan & Friedman
(Registration number 1999/026464/07)
www.enf.co.za
Joint sponsor
CAZENOVE
Date: 28/10/2002 04:00:00 PM Produced by the JSE SENS Department
