June 22, 2017 / 2:07 PM / 2 years ago

BRIEF-Distell announces proposed restructuring of multi-tiered ownership structure

June 22 (Reuters) - Distell Group Ltd:

* Proposed restructuring of Distell’s multi-tiered ownership structure

* Proposed transaction will dismantle multi-tiered ownership structure above Distell

* Leave Distell shareholders with exactly same economic interest in New Distell

* Proposed restructuring increase free float in New Distell on stock exchange operated by Jse Limited

* Proposed transaction will result in control of New Distell vesting in Remgro Limited through issuance of Unlisted Voting B shares in New Distell to Remgro

* Says Remgro is also supportive of proposed transaction, but will not be entitled to vote on proposed transaction Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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