TBS
TIIH
TBS - Tiger Brands - Trading update, joint venture and change to the board
TIGER BRANDS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1944/017881/06)
Share code: TBS
ISIN code: ZAE000071080
("Tiger Brands" or "the company")
TRADING UPDATE, JOINT VENTURE WITH MEDREICH AND CHANGE TO THE BOARD OF DIRECTORS
Year to date performance
The trading performance for the year to date is in line with expectations and is
consistent with the outlook for 2007 as reported at the time of release of the
2006 year-end results. The company, accordingly, continues to expect to deliver
another year of real earnings growth in 2007, although the rate of increase in
headline earnings per share will be below the growth achieved for the year-ended
30 September 2006.
Joint Venture - Adcock Ingram and Medreich Limited
Adcock Ingram Holdings (Pty) Limited, a wholly-owned subsidiary of Tiger Brands,
has signed an agreement with the Bangalore-based Medreich Limited to set up a
joint manufacturing initiative in India.
This joint venture solidifies the strong five-year relationship between both
parties. The joint venture will develop a fully fledged state of the art solid
oral dosage pharmaceutical manufacturing facility located in Bangalore.
The joint venture is part of the overall pharmaceutical supply chain strategy,
providing a competitive sourcing route and expansion of operations outside of
South Africa.
Change to the board of directors
SHAREHOLDERS ARE ADVISED THAT, IN TERMS OF SECTION 3.59 OF THE LISTINGS
REQUIREMENTS OF THE JSE LIMITED, MR B H ADAMS, A NON-EXECUTIVE DIRECTOR, RETIRED
AT THE CONCLUSION OF THE ANNUAL GENERAL MEETING OF THE COMPANY HELD ON 14
FEBRUARY 2007. MR ADAMS HAS SERVED ON THE BOARD OF TIGER BRANDS SINCE 1992 AND
WAS THE CHAIRMAN OF THE AUDIT COMMITTEE. MR R M W DUNNE REPLACES MR ADAMS AS
CHAIRMAN OF THE AUDIT COMMITTEE WITH IMMEDIATE EFFECT.
Bryanston
Date: 14 February 2007
Sponsor
JP Morgan Equities Limited
Date: 14/02/2007 16:26:03 Produced by the JSE SENS Department.
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