TIGER BRANDS LIMITED - Announcement relating to the proposed acquisition by Oceana Group Limited of Daybrook Fisheries

Announcement relating to the proposed acquisition by Oceana Group Limited of Daybrook Fisheries

TIGER BRANDS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1944/017881/06)
Share code: TBS
ISIN: ZAE000071080
(“Tiger Brands”)


ANNOUNCEMENT RELATING TO THE PROPOSED ACQUISITION BY
OCEANA GROUP LIMITED OF DAYBROOK FISHERIES INCORPORATED
(“DAYBROOK FISHERIES”)

Shareholders of Tiger Brands are referred to the announcement released by
Oceana Group Limited (“Oceana”) on the Securitie s Exchange News Service of
the JSE Limited today relating to the acquisition by Oceana of Daybrook
Fisheries (“the Proposed Acquisition”) and a subsequent proposed rights offer
by Oceana (“the Proposed Rights Offer”).

As set out in that announcement, Tige r Brands which owns 50 098 877
ordinary shares in Oceana (“Relevant Oceana Shares”) or 43.8% of the
Oceana ordinary shares eligible to vote at the general meeting of Oceana
shareholders, has signed an irrevocable letter of support to vote in favour of all
necessary special and ordinary resolutions required to approve the Proposed
Acquisition and implement the Proposed Rights Offer.

Tiger Brands has furthermore signed an irrevocable letter of commitment to
follow all of its rights attaching to the Relevant Oceana Shares in the Proposed
Rights Offer. The participation in the rights issue is estimated to cost Tiger
Brands approximately R525 million for its pro -rata share.


Bryanston
19 May 2015

Transaction adviser to Tiger Brands
Deutsche Bank

Sponsor
J.P. Morgan Equities South Africa Proprietary Limited

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