The Farsons group said today that it will launch a reorganisation of its corporate structure next year, spinning off  (pro-rata to existing shareholders) the Group’s
property interests to a new company.

In a company announcement the company said its board of directors at a meeting today discussed the proposed Farsons Business Park project and approved a
concept and design budget for the initial phases of the development.

It is expected that this work will be finalised in the middle of next year.

"The Board believes that it would then be the appropriate time to seek to commence the implementation of the re-organisation of the corporate structure of the Farsons Group, and to ‘spin-off’ (pro-rata to then existing shareholders) the
Group’s property interests (other than those properties which will continue to be
used in the core beverage business) from the other business activities into a separate and distinct p.l.c." Farsons said.

It expected the ‘spin-off’ would serve to enhance shareholder value. An extraordinary shareholders’ meeting will be convened.