RCL Foods Limited announced the listing of Rainbow Chicken Limited. The listing will occur on the Johannesburg Stock Exchange (JSE). This move comes after the board’s approval on June 4, 2024.
Key Developments
All conditions for the listing and unbundling have been met. The pre-listing statement of Rainbow Chicken Limited is now published. Shareholders can access the statement on both the Rainbow and RCL Foods websites.
Important Dates
Key dates for the listing and unbundling are as follows:
| Date | Event |
|---|---|
| June 10, 2024 | Publication of the Pre-listing Statement on RCL Foods and Rainbow websites |
| June 10, 2024 | Abridged Pre-listing Statement released on SENS |
| June 10, 2024 | Pre-listing Statement distributed to shareholders |
| June 10, 2024 | Unbundling finalisation announcement by RCL Foods on SENS |
| June 25, 2024 | Last day to trade for shareholders to participate in the unbundling |
| June 26, 2024 | RCL Foods shares commence trading “ex” entitlement to Rainbow shares |
| June 26, 2024 | Listing of Rainbow shares on the Main Board of the JSE |
| June 27, 2024 | Announcement of specified ratio to apportion existing cost/base cost for taxation purposes |
| June 28, 2024 | Unbundling record date to receive JSE-listed Rainbow shares |
| June 28, 2024 | Closing price of RCL Foods and Rainbow shares released on SENS |
| July 1, 2024 | Unbundling operative date |
| July 1, 2024 | RCL Foods shareholders’ accounts updated and credited with JSE-listed Rainbow shares |
Listing on the JSE
Rainbow Chicken Limited has met all JSE requirements. Its shares will be listed on the Main Board of the JSE from June 26, 2024. The shares will trade under the code “RBO” and ISIN ZAE000334850 in the “Food Products” sub-sector.
Trade Conditions
Rainbow shares can only be traded in electronic form. Shareholders cannot rematerialize or dematerialize RCL Foods shares between June 26 and June 28, 2024.
Access to Pre-listing Statement
The pre-listing statement is available in English for inspection. Shareholders can visit the registered offices of Rainbow and RCL Foods during normal business hours. The statement is also accessible on the Rainbow and RCL Foods websites.
Independent Analyst Research Report
RCL Foods has commissioned an independent analyst research report for additional information. The report, prepared by VS Research (Pty) Limited, offers a detailed analysis of Rainbow and the poultry industry.
Research Report Details
The report provides comprehensive operational and financial information about Rainbow. It aims to offer shareholders and investors an independent perspective on Rainbow’s business.
Important Notes
The research report is not a substitute for the pre-listing statement. Shareholders should consider all information in the pre-listing statement before making investment decisions. The research report has not been independently audited.
Publication Date of Research Report
The research report will be published on June 11, 2024. It will be available on both the Rainbow and RCL Foods websites.
Summary of Key Points
- RCL Foods announces Rainbow Chicken Limited’s JSE listing and unbundling.
- Pre-listing statement published on June 10, 2024.
- Rainbow shares to be listed on JSE Main Board on June 26, 2024.
- Independent analyst research report to be published on June 11, 2024.
Conclusion
RCL Foods’ strategic move to list and unbundle Rainbow Chicken Limited aims to unlock shareholder value. Shareholders are encouraged to review all provided documents for a comprehensive understanding of the transaction.