23 April 2008 - Cadbury Schweppes plc (Cadbury Schweppes) announced today that, in connection with the proposed demerger of its American Beverages business to Dr Pepper Snapple Group, Inc. (DPSG), the US Securities and Exchange Commission (SEC) has declared DPSG's Form 10 Registration Statement effective.
The document, which was revised and filed on 22 April, 2008 as the sixth filing of the Form 10 Registration Statement, is available on the SEC's website and will shortly be sent to shareowners.
As previously announced, the Court Meeting and the General Meeting to seek shareowner approval for the scheme and demerger were held on 11 April 2008. The scheme and all of the resolutions to effect the demerger were overwhelmingly approved by our shareowners.
We have been advised by the New York Stock Exchange (NYSE) that shares of DPSG common stock are expected to begin trading on a "when issued" basis on 28 April 2008 under the symbol "DPS wi" prior to their distribution as explained below. Investors are encouraged to consult with their financial advisors regarding the specific implications of trading in DPSG common stock before the expected distribution and listing date of 7 May 2008.
Once the scheme becomes effective, existing Cadbury Schweppes ordinary shares and ADRs will be cancelled and delisted to be replaced by Cadbury plc (Cadbury) ordinary shares, Cadbury beverage shares and ADRs. We expect Cadbury ordinary shares and ADRs to begin trading on the London Stock Exchange under symbol "CBRY" and on the NYSE under symbol "CBY", respectively on 2 May 2008. We do not expect a "when issued" market for Cadbury ordinary shares or ADRs.
In addition to Cadbury ordinary shares and ADRs, Cadbury Schweppes' shareowners who are on the register as at 6 pm on 1 May 2008 will be entitled to the shares of DPSG common stock when the demerger becomes effective. This is expected to occur on 7 May 2008. This entitlement will be held in the form of unlisted, non-tradable Cadbury beverage shares in the interim period between 2 May and 7 May, 2008 and regular trading in DPSG common stock will commence on 7 May, 2008 on the NYSE under the symbol "DPS".
Summary of Expected Key Dates
28 April - DPSG expected to begin trading on "when issued" basis on the NYSE
6 pm (UK time) 1 May - Record and ex-dividend time for 2007 Cadbury Schweppes final dividend
6 pm (UK time) 1 May - Scheme record time
2 May - Listing of Cadbury ordinary shares on the London Stock Exchange
2 May - Listing of Cadbury ADRs on the NYSE
7 May - Listing of DPSG shares on the NYSE
16 May - Payment of Cadbury Schweppes 2007 final dividend
16 May - Posting of Cadbury plc share certificates and DPSG registration statements
The dates given above are indicative only and may be subject to change.