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Pioneer issues shares to black investors

20 Mar 2012

Pioneer Food Group said on Monday, 19 March 2012, it had issued 18,091,661 ordinary shares to black investors as part of its broad-based black economic empowerment (B-BBEE) deal following the fulfilment of the conditions precedent.

The implementation of the remainder of the transaction relating to the issuing of 10,599,998 Pioneer Foods shares to a BEE trust founded by the company is currently in progress, the consumer goods group said in a statement.

It is anticipated that these shares will be issued and listed towards the end of March this year.

Source: I-Net Bridge

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