14 August, 2008 - The ordinary shareholders of Tiger Brands today approved at a general meeting, with the requisite majority of shareholders, several resolutions that will give rise to the separate listing and unbundling of Adcock Ingram Holdings.
Accordingly, each Tiger Brands shareholder will receive one Adcock Ingram share for every Tiger Brands share held. Adcock Ingram will be listed on the JSE on Monday, 25 August.
Tiger Brands will now be a focussed fast moving consumer goods (FMCG) company.
Peter Matlare, Chief Executive Officer of Tiger Brands, said the approval of the separate listing and unbundling of Adcock Ingram is a demonstration of the commitment to executing Tiger Brands’ strategy.
“Tiger Brands is now well positioned to deliver on its growth strategy as a FMCG company, with an increased focus on expanding our international footprint, especially on the balance of the continent as demonstrated by our recent investments in Kenya and Cameroon.
“I would like to wish our colleagues at Adcock Ingram every success as they embark on their new journey.”