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TIGER BRANDS LIMITED - Completion of sale of shares in Oceana by Tiger Brands

Release Date: 20/03/2019 15:00
Code(s): TBS     PDF:  
 
Wrap Text
Completion of sale of shares in Oceana by Tiger Brands

TIGER BRANDS LIMITED
“Tiger Brands” or “the Company”
(Incorporated in the Republic of South Africa)
(Registration number 1994/017881/06)
Share code: TBS ISIN: ZAE000071080

COMPLETION OF THE SALE OF SHARES IN OCEANA GROUP LIMITED (“OCEANA”) BY
TIGER BRANDS

Shareholders are referred to the announcement released on SENS on 24
January 2019 regarding the proposed sale by Tiger Brands of 8,000,000
ordinary shares in Oceana to Brimstone Investment Corporation (“the
Transaction”), and the updated announcement issued on 1 March 2019 on
SENS wherein shareholders were advised that the conditions precedent in
relation to the Transaction have been duly fulfilled by Brimstone.

Shareholders are further advised that the Transaction was successfully
completed on 20 March 2019.

Pursuant to the above, Tiger Brands will have 49,104,774 remaining
shares in Oceana. Tiger Brands is proceeding with the necessary steps to
complete the unbundling of these shares to its shareholders during the
second quarter of the 2019 calendar year. A further announcement will
be made in due course setting out the detailed terms of the unbundling
and containing important notices and guidance for Tiger Brands
shareholders.

Bryanston
20 March 2019

Sponsor:
J.P. Morgan Equities South Africa Proprietary Limited

Financial Advisor
Standard Chartered Bank

Legal Advisor
Edward Nathan Sonnenbergs

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