Shares move for Associated British Foods subsidiary

Related tags Associated british foods Stock Stock market

UK food, ingredients and retail group Associated British Foods
(ABF) announced on Friday that the minority shareholders of its
Australian subsidiary, George Weston Foods Limited, have voted in
favour of a proposal for a selective capital reduction and the
payment of a special dividend.

UK food, ingredients and retail group Associated British Foods (ABF) announced on Friday that the minority shareholders of its Australian bakery subsidiary, George Weston Foods Limited, have voted in favour of a proposal for a selective capital reduction and the payment of a special dividend.

As a result all shares not already owned by ABF will be cancelled in return for a payment totalling Aus$6.60 per George Weston share.

It is expected that George Weston will become a wholly-owned subsidiary of ABF​ on 20 September 2002 and the shares of George Weston will be delisted from the Australian Stock Exchange on 27 September 2002.

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