Simonds Farsons Cisk plc - Spin-off of the Food Business

On 27 November 2024, Simonds Farsons Cisk plc announced that following the strategic review of opportunities for the further expansion of the Food Business of the Farsons Group (currently carried out by Quintano Foods Limited and Food Chain Limited), the Board of Directors has concluded that the further growth of the Food Business as well as the interests of the Group, its shareholders and other stakeholders would be best served through its reorganisation by way of a Spin-off of the Food Business as a separate legal entity that would be listed on the Malta Stock Exchange.

The Board envisages the number of ordinary shares in the anticipated listed entity that would equate to the same number of ordinary shares in issue under Simonds Farsons Cisk plc. A dividend in specie would then be distributed to the current shareholders of the Company, and hence each shareholder would receive an equivalent number of shares in a newly listed entity.

The Board has authorised executive management to initiate the requisite legal, regulatory, taxation and related processes and measures that would enable this separate listing to take place. The approval of the shareholders in a General Meeting will be required for the implementation of any restructuring, and therefore the matter will be brought before the shareholders in due course, probably at around the second half of 2025.