Deprecated: Function is_staging_site is deprecated since version 3.3.0! Use in_safe_mode instead. in /home/dubeshephard/public_html/wp-includes/functions.php on line 6078
RCL Foods Lists Rainbow Chicken on JSE After Meeting All Conditions | Rateweb
Deprecated: Function is_staging_site is deprecated since version 3.3.0! Use in_safe_mode instead. in /home/dubeshephard/public_html/wp-includes/functions.php on line 6078

RCL Foods Lists Rainbow Chicken on JSE After Meeting All Conditions

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:

DateEvent
June 10, 2024Publication of the Pre-listing Statement on RCL Foods and Rainbow websites
June 10, 2024Abridged Pre-listing Statement released on SENS
June 10, 2024Pre-listing Statement distributed to shareholders
June 10, 2024Unbundling finalisation announcement by RCL Foods on SENS
June 25, 2024Last day to trade for shareholders to participate in the unbundling
June 26, 2024RCL Foods shares commence trading “ex” entitlement to Rainbow shares
June 26, 2024Listing of Rainbow shares on the Main Board of the JSE
June 27, 2024Announcement of specified ratio to apportion existing cost/base cost for taxation purposes
June 28, 2024Unbundling record date to receive JSE-listed Rainbow shares
June 28, 2024Closing price of RCL Foods and Rainbow shares released on SENS
July 1, 2024Unbundling operative date
July 1, 2024RCL 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.