Tiger Brands Limited - Sanctioning Of The Scheme O
Tiger Brands Limited - Sanctioning Of The Scheme Of Arrangement
Tiger Brands Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1944/017881/06)
Share code: TBS
ISIN: ZAE000023560
("Tiger Brands" or "the Company")
SANCTIONING OF THE SCHEME OF ARRANGEMENT
Further to the announcements dated 14 July 2005, 29 August 2005, 19 September
2005 and 28 September 2005 relating to the Tiger Brands staff empowerment
transaction in terms of which Tiger Brands is to facilitate the acquisition of a
4% direct ownership interest in the ordinary share capital of the Company by a
broad base of employees, Tiger Brands shareholders are advised that the scheme
of arrangement in terms of section 311 of the Companies Act (Act 61 of 1973), as
amended, proposed by the trustees of the Tiger Brands Black Managers Trust,
Thusani Empowerment Investment Holdings (Proprietary) Limited and the trustees
of the Tiger Brands General Staff Share Trust, between Tiger Brands and its
shareholders (other than Tiger Food Brands Limited) ("the scheme"), was
sanctioned by the High Court of South Africa (Witwatersrand Local Division)
today, being Thursday, 29 September 2005.
The remaining condition precedent is that the Order of Court sanctioning the
scheme be registered by the Registrar of Companies. It is expected that the
Order of Court will be lodged and registered with the Registrar of Companies on
Friday, 30 September 2005.
It is anticipated that the scheme will be implemented according to the timetable
contained in the announcements dated 29 August 2005 and 19 September 2005. The
operative date of the scheme is expected to be Monday, 17 October 2005.
Bryanston
29 September 2005
Investment bank and transaction sponsor
Standard Bank
Corporate law advisers
Edward Nathan (Proprietary) Limited
Sponsor
JPMorgan
Independent reporting accountants and auditors
Ernst & Young
Date: 29/09/2005 03:25:10 PM Produced by the JSE SENS Department
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
