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India

Tiger Brands Ltd (TBSJ.J)

TBSJ.J on Johannesburg Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Tiger Brands Says First State Investment Management (UK) Now Holds 5.02 Pct Stake
Thursday, 25 Apr 2019 

April 25 (Reuters) - Tiger Brands Ltd ::ACQUISITION OF SECURITIES BY FIRST STATE INVESTMENT MANAGEMENT (UK) LIMITED.FIRST STATE INVESTMENT MANAGEMENT (UK) ACQUIRED AN INTEREST, TOTAL STAKE IN CO HELD NOW AMOUNTS TO 5.02%.  Full Article

Tiger Brands Confirms Co Received Summons Regarding Class Action Lawsuit
Wednesday, 17 Apr 2019 

April 17 (Reuters) - Tiger Brands Ltd ::CLASS ACTION SUMMONS ISSUED AGAINST TIGER BRANDS.CLASS ACTION SUMMONS ISSUED AGAINST TIGER BRANDS.CONFIRM THAT COMPANY RECEIVED SUMMONS IN RESPECT OF CLASS ACTION LAWSUIT ON 16 APRIL 2019.NO SPECIFIC AMOUNT OF DAMAGES BEING CLAIMED IN SUMMONS.INTENDS TO DEFEND CLASS ACTION AND COMPANY IS PREPARING TO FOLLOW DUE LEGAL PROCESS.INSURERS HAVE ADVISED PRODUCT LIABILITY POLICY DOES NOT INCLUDE COVER FOR EXEMPLARY OR PUNITIVE DAMAGES, IF SUCH AWARD MADE BY COURT.ADVISED S. AFRICAN LAW DOES NOT RECOGNISE CLAIM FOR EXEMPLARY/PUNITIVE DAMAGES, OR CONSTITUTIONAL DAMAGES OF EXEMPLARY/PUNITIVE NATURE.  Full Article

Tiger Brands Updates On Proposed Sale Of Share In Oceana Group
Friday, 1 Mar 2019 

March 1 (Reuters) - Tiger Brands Ltd ::UPDATE REGARDING THE PROPOSED SALE OF SHARE IN OCEANA GROUP LIMITED.TRANSACTION IS EXPECTED TO BE COMPLETED ON OR BEFORE 20 MARCH 2019.  Full Article

Brimstone Says Conditions Precedent To Buying Shares In Oceana From Tiger Brands Duly Fulfilled
Friday, 1 Mar 2019 

March 1 (Reuters) - Brimstone Investment Corporation Ltd ::ANNOUNCEMENT REGARDING THE PROPOSED ACQUISITION OF SHARES IN OCEANA FROM TIGER BRANDS.CONDITIONS PRECEDENT TO DEAL REGARDING PROPOSED ACQUISITION OF SHARES IN OCEANA FROM TIGER BRANDS HAVE BEEN DULY FULFILLED.  Full Article

Tiger Brands Sees Trading Environment To Remain Challenging For Remainder Of FY
Wednesday, 20 Feb 2019 

Feb 20 (Reuters) - Tiger Brands Ltd ::4 MONTHS TO 31 JANUARY 2019 GROUP REVENUE FROM CONTINUING OPERATIONS WAS UP 1%.TRADING ENVIRONMENT IS EXPECTED TO REMAIN CHALLENGING FOR REMAINDER OF FINANCIAL YEAR, WITH ONGOING PRESSURE ON CONSUMER SPENDING.COMPANY HAS CEASED TO EQUITY ACCOUNT EARNINGS OF OCEANA GROUP LIMITED WITH EFFECT FROM 1 DECEMBER 2018.  Full Article

PIRC Recommends Vote Against Share Repurchase Authorisation For Paragon Banking
Tuesday, 12 Feb 2019 

Feb 12 (Reuters) - PIRC::PROXY ADVISORY FIRM PIRC RECOMMENDS TO VOTE AGAINST AUTHORISATION OF SHARE REPURCHASE FOR PARAGON BANKING GROUP PLC.PROXY ADVISORY FIRM PIRC RECOMMENDS TO VOTE AGAINST ISSUING SHARES FOR CASH FOR FINANCING ACQUISITION OR OTHER CAPITAL INVESTMENT FOR PARAGON BANKING.PIRC SAYS RECOMMENDS SHAREHOLDERS TO VOTE AGAINST PROPOSAL TO AMEND EXISTING LONG TERM INCENTIVE PLAN FOR TIGER BRANDS.PROXY ADVISORY FIRM PIRC RECOMMENDS SHAREHOLDERS VOTE AGAINST TIGER BRANDS REMUNERATION REPORT AT AGM.PIRC SAYS RECOMMENDS SHARESHOLDERS TO VOTE AGAINST PROPOSAL TO APPROVE FINANCIAL ASSISTANCE FOR TIGER BRANDS.PROXY ADVISORY FIRM PIRC RECOMMENDS SHAREHOLDERS ABSTAIN FROM VOTING ON APPROVAL OF REMUNERATION REPORT FOR PARAGON BANKING GROUP.  Full Article

Brimstone Investment Corp To Buy Oceana Shares For 581.44 Mln Rand
Thursday, 24 Jan 2019 

Jan 24 (Reuters) - Brimstone Investment Corporation Ltd ::ANNOUNCEMENT REGARDING THE ACQUISITION OF OCEANA SHARES.CONDITIONAL BUT BINDING OFFER TO ACQUIRE 8 MILLION OCEANA GROUP LIMITED ORDINARY SHARES FROM TIGER BRANDS.DEAL IS FOR 5.9 PCT OF TOTAL OCEANA SHARES IN ISSUE, TO INCREASE BRIMSTONE'S SHAREHOLDING IN OCEANA FROM 16.98 PCT TO 22.88 PCT.NET ASSET VALUE OF TRANSACTION IS R272.9 MILLION.CONSIDERATION PAYABLE FOR TRANSACTION WILL BE R581.44 MILLION.  Full Article

Tiger Brands Says High Court Certifies Class Action Against Co
Monday, 3 Dec 2018 

Dec 3 (Reuters) - Tiger Brands Ltd ::JSE: TBS - CLASS ACTION AGAINST TIGER BRANDS IS CERTIFIED.TIGER BRANDS LTD - HIGH COURT OF SOUTH AFRICA, JOHANNESBURG LOCAL DIVISION GRANTED AN ORDER CERTIFYING A CLASS ACTION AGAINST TIGER BRANDS.  Full Article

Oceana Group Intends To Form Board Sub-Committee To Consider Implications Of Proposed Unbundling By Tiger Brands
Thursday, 22 Nov 2018 

Nov 22 (Reuters) - Oceana Group Ltd ::ANNOUNCEMENT RELATING TO THE UNBUNDLING BY TIGER BRANDS LIMITED OF ITS ENTIRE SHAREHOLDING IN OCEANA.INTENDS TO FORM A SUB-COMMITTEE OF BOARD TO CONSIDER IMPLICATIONS OF PROPOSED UNBUNDLING.  Full Article

Tiger Brands' VAMP Division Had Material Impact On FY Results Following Suspension Of Operations
Thursday, 22 Nov 2018 

Nov 22 (Reuters) - Tiger Brands Ltd ::JSE: TBS - AUDITED GROUP RESULTS AND DIVIDEND DECLARATION FOR THE YEAR ENDED 30 SEPTEMBER 2018.FY HEPS DOWN 26% TO 1 587 CENTS PER SHARE.FY DIVIDEND UNCHANGED AT 1 080CPS.FY REVENUE DECLINED BY 9% TO R28,5 BILLION.FY GROUP OPERATING MARGIN DOWN 310BPS TO 11,7%.TIGER BRANDS' RESULTS REFLECT DEPRESSED CONSUMER ENVIRONMENT, WHICH DETERIORATED FURTHER IN SECOND HALF OF YEAR.GROUP'S VAMP DIVISION HAD MATERIAL IMPACT ON FY RESULTS FOLLOWING SUSPENSION OF OPERATIONS FOR ENTIRE SECOND HALF OF FINANCIAL YEAR.SUSPENSION OF OPERATIONS AT VAMP CONTRIBUTED 4% TO FY VOLUME DECLINE.TIGER BRANDS - POSITIVE VOLUME PERFORMANCE IN GRAINS WAS NOT REFLECTED IN FY OPERATING INCOME DUE TO CATEGORY DEFLATION & RISE IN COST OF SERVICES.DURING YEAR, ASSET IMPAIRMENTS OF R262 MILLION WERE ACCOUNTED FOR.TIGER BRANDS - FOLLOWING CERTIFICATION OF LISTERIA CLAIM & MEMBERS OF CLASSES, IT IS EXPECTED THAT A QUANTIFIED CLAIM WILL BE INSTITUTED AGAINST CO.ABNORMAL LOSSES OF R422 MILLION INCLUDE SIGNIFICANT IMPACT OF VAMP PRODUCT RECALL IN CURRENT YEAR OF R380 MILLION.BOARD HAS DECIDED TO PURSUE AN UNBUNDLING OF ITS ENTIRE SHAREHOLDING IN OCEANA GROUP LIMITED (OCEANA).APPROXIMATE IMPLEMENTATION DATE OF OCEANA UNBUNDLING IS APRIL 2019.STRUCTURAL REFURBISHMENTS HAVE BEEN COMPLETED AT POLOKWANE FACILITY AND IT IS CURRENTLY BEING ASSESSED BY CAPRICORN MUNICIPALITY.LISTERIA CLASS ACTION REFERRED TO IN COMPANY'S SENS ANNOUNCEMENT DATED 14 AUGUST 2018 HAS NOT YET BEEN CERTIFIED.  Full Article

UPDATE 3-Tiger Brands revenue falls short after challenges at meat unit

* Consumer income under pressure in South Africa (Adds CFO quotes, recasts lead)