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TBS
TIIH
TBS - Tiger Brands Limited - Competition Commission - Milling
TIGER BRANDS LIMITED
"Tiger Brands" or "the Company"
(Incorporated in the Republic of South Africa)
(Registration number 1944/017881/06)
Share code: TBS
ISIN: ZAE000071080
COMPETITION COMMISSION - MILLING
Shareholders are referred to a report that appeared on Bloomberg this
morning, in which the Deputy Competition Commissioner was quoted as saying
that the Competition Commission has probed South Africa`s grain millers in
relation to market allocation and price fixing and that its findings will be
referred to the Competition Tribunal. The announcement referred to Tiger
Brands as being one of the "targets" of this investigation.
Tiger Brands has been informed by the Competition Commission that its
complaint referral has not yet been made to the Competition Tribunal.
Tiger Brands entered into an agreement with the Competition Commission in
November 2007 in terms of which Tiger Brands was granted conditional immunity
from prosecution before the Competition Tribunal for its involvement in
cartel activities in the milling industry within South Africa, subject to
certain conditions. In the event that the Competition Commission does refer
its milling investigation to the Competition Tribunal for determination with
Tiger Brands cited as a co-respondent, no relief is expected to be sought
against Tiger Brands.
The Competition Commission has undertaken to provide to Tiger Brands a copy
of the complaint referral as soon as it has been referred to the Competition
Tribunal.
Date:
9 March 2010
Sponsor
J.P. Morgan Equities Limited
Date: 09/03/2010 12:36:04 Produced by the JSE SENS Department.
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