Simonds Farsons Cisk plc - Farsons Business Park Project Update

On 17 September, Simonds Farsons Cisk plc announced that following a number of meetings with the authorities, advisors and various stakeholders coupled with a number of technical studies, the Board of Directors today approved a concept and design budget for the initial phases of the Farsons Business Park development. Such preparatory work is expected to be completed by mid-2015.

In conjunction, the Board is planning to implement a re-organisation of the corporate structure of the Farsons Group. As previously indicated, the Board will be proposing to spin-off (pro-rata to all existing shareholders at the time of the corporate action) of the Group’s non-core property interests into a separate and distinct public limited company (plc). The Farsons Group will continue to own the core properties used in its beverage business. In this respect, the Farsons Group is expected to convene an Extraordinary General Meeting (EGM) in the last quarter of 2015 asking shareholders to approve this proposed re-organisation.