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BRN OCE TBS BRT
BRT OCE TIIH
Oceana/ Brimstone/ Tiger - Proposed waiver of mandatory offer: Ruling by the SRP
OCEANA GROUP LIMITED
(Incorporated in the Republic of South Africa)
Registration Number 1939/001730/06
Share code: OCE
NSX share code: OCG
ISN: ZAE000025284
("Oceana")
BRIMSTONE INVESTMENT CORPORATION LIMITED
(Incorporated in the Republic of South Africa)
Registration Number 1995/010442/06
Share code: BRT; ISIN: ZAE000015277
Share code: BRN; ISIN: ZAE000015285
("Brimstone")
TIGER BRANDS LIMITED
(Incorporated in the Republic of South Africa)
Registration Number 1944/017881/06
Share code: TBS
ISN: ZAE000071080
("Tiger")
PROPOSED WAIVER OF MANDATORY OFFER BY TIGER AND BRIMSTONE TO OCEANA
SHAREHOLDERS: RULING BY THE SECURITIES REGULATION PANEL
Oceana shareholders are referred to an announcement released on the Securities
Exchange News Service of the JSE Limited on 7 July 2006 and published in the
press on 10 July 2006, inviting Oceana shareholders to provide written
submissions to the Executive Director of the Securities Regulation Panel ("SRP")
by 17 July 2006, as to why the SRP should not consent to waive the requirement
that Tiger and Brimstone extend a mandatory offer to minority Oceana
shareholders, as required in terms of the Securities Regulation Code on
Takeovers and Mergers, at a price of R15,21 (fifteen rand and twenty one cents)
per Oceana ordinary share subsequent to the conclusion of a voting pool
agreement between Tiger and Brimstone, a copy of which lay for inspection.
The Executive Director of the SRP has not received any submissions and,
consequently, the SRP has waived the requirement that Tiger and Brimstone extend
a mandatory offer to minority Oceana shareholders.
17 July 2006
Investment bank and sponsor to Oceana
Standard Bank
Corporate law adviser
Edward Nathan
Sponsor to Tiger
J.P. Morgan Equities Limited
Sponsor to Brimstone
Nedbank Capital
Date: 17/07/2006 04:07:11 PM Produced by the JSE SENS Department
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