Tiger Brands Says Old Mutual Stake Has Reached 5.02%

In Short

Tiger Brands says it has received formal notification from Old Mutual Limited that Old Mutual has acquired a 5.02% beneficial interest in Tiger Brands’ issued ordinary share capital.

What Happened

Tiger Brands said it received formal notification from Old Mutual that Old Mutual has acquired a beneficial interest in Tiger Brands securities.

Tiger Brands said the total of all beneficial interests held by Old Mutual now amounts to 5.02% of the company’s total issued ordinary share capital.

The company said the disclosure is made in line with JSE Listings Requirements and section 122(3)(b) of the Companies Act, No. 71 of 2008, as amended.

Tiger Brands also said the required notice under section 122(3)(a) of the Companies Act has been filed with the Takeover Regulation Panel.

The announcement said the board accepts responsibility for the information and that it reflects the information contained in the TRP 121.1 form received from Old Mutual.

Why It Matters

A disclosed holding above 5% is a key threshold in South Africa’s ownership reporting rules. It signals that Old Mutual now has a reportable stake in Tiger Brands.

Tiger Brands did not disclose the purchase price or when the underlying acquisition took place.