- What is a pure-play company?
A pure-play company has a single business focus. In this case coffee and tea.
- Where are D.E MASTER BLENDERS 1753’s headquarters?
D.E MASTER BLENDERS 1753’s headquarters are situated in Amsterdam, the Netherlands. The address can be found here.
- Who sits on D.E MASTER BLENDERS 1753’s Board of Directors?
D.E MASTER BLENDERS 1753 has a one-tier Board as well as an Executive Committee. Jan Bennink is chairman of the single-tier Board of Directors, consisting of one Executive Director and six Non-Executive Directors. Our sole Executive Director, Michiel Herkemij, was appointed as Chief Executive Officer on February 27th, 2012.
- What are D.E MASTER BLENDERS 1753’s main brands?
D.E MASTER BLENDERS 1753 operates with a portfolio of more than thirty local and international brands. Some of the most recognised brands include Douwe Egberts, Senseo, L’OR, Marcilla, Moccona, Café Pilão, Pickwick and Tea Forté. The Brands section of the website contains summary information and a link to the dedicated brand website where available.
- Where can I find information about the history of D.E MASTER BLENDERS 1753?
Click here to visit the heritage section of our website.
- Where can I find more information about D.E MASTER BLENDERS 1753?
We will add more content to this website as we get closer to becoming an independent company. Please visit us regularly to get the latest information available.
- My question isn’t answered here, how can I get in contact for additional information?
You can find all relevant contact details by clicking here.
- What is a spin-off?
A spin off refers to a type of corporate action where a company "splits off" sections of itself as a separate business. In this case Sara Lee spins off its coffee and tea business from its meat business on June 28 2012.
- What is the rationale for the spin-off or “separation”?
Sara Lee reviewed various strategic alternatives and determined that formation of two pure-play businesses offers the best potential for long-term shareholder and corporate value.
- How does the spin-off process work? What will happen with my Sara Lee share?
In order to execute the spin-off and re-domiciliation, Sara Lee will take the following steps. First, Sara Lee will spin-off all of the shares of its U.S. subsidiary that operates its Coffee & Tea business. Immediately after this spin-off occurs, the U.S. subsidiary will pay a $3.00 per share special dividend to Sara Lee shareholders. We expect that this dividend will be eligible for qualified dividend treatment. Subsequently, a new Dutch company will be established, D.E MASTER BLENDERS 1753, as the parent company for the Coffee & Tea business and its shares will be distributed to Sara Lee shareholders. The U.S. Coffee & Tea company will become a subsidiary of this Dutch public parent and a holding company for the Coffee & Tea operations.
- What is the record date for the $3 dividend?
The record date is June 28.
- Is the $3.00 special dividend a one-time deal?
Yes, this is a one-time deal.
- What will be included in the new company?
The spin-off of D.E MASTER BLENDERS 1753 will create a leading, focused pure-play coffee and tea company that offers an extensive range of high-quality, innovative coffee and tea products well-known in retail and Out of Home markets across Europe, Brazil, Australia and Thailand. We are one of the largest companies (based on sales) operating purely in the coffee and tea industry and generated sales of €2.6 billion in 2011.
- When do you expect D.E MASTER BLENDERS 1753 to spin-off from Sara Lee and become an independently listed company?
D.E MASTER BLENDERS 1753 will be officially listed on the NYSE Euronext Amsterdam on July 9th.
- What will I receive when I buy a D.E MASTER BLENDERS 1753 share? Do I receive any dividend?
You will receive an ordinary share of D.E MASTER BLENDERS 1753 if applicable but no special dividend or dividend over the last year.
- As a registered shareholder, what happens if I just hold my shares?
The $3 dividend is paid to your account, D.E MASTER BLENDER 1753 shares are credited to your account, and Hillshire Brands shares (after the reverse split) will be credited to your account.
- What is D.E MASTER BLENDERS 1753’s debt rating post spin-off?
We expect to have an gross debt rate of approximately €500 million and a net debt of approximately €400 million on June 28th. We expect that D.E MASTER BLENDERS 1753 will have an investment grade debt profile.
- Will D.E MASTER BLENDERS 1753 incur any one-time financial charges?
We expect D.E MASTER BLENDERS 1753 will incur a one-time charge and transaction related expenses as we execute the spin-off. The size and timing of this charge will be determined at a later date.
- How can I get further information on the transaction?
A prospectus with full details about the transaction was published on June 4, 2012 and subsequently sent to shareholders. The prospectus can be downloaded here. If you are a shareholder who is registered with a trustee you will receive detailed instructions from your trustee.
- Why are there several separate trading lines in the beginning?
There is one regular trading line for Sara Lee / Due Bills, an AIW trading line for Hillshire Brands and AIW trading line for D.E MASTER BLENDERS 1753. The Sara Lee trading line represents a combination of one Hillshire Brands, one D.E MASTER BLENDERS 1753 and a $3 dividend. During the spin-off process we have to ensure investors are able to trade the different stocks (through AIW trading). Because there is still a theoretical probability the spin-off will not take place and actual trading / settlement cannot take place.
- What is a Due Bill?
A due bill is provided by the seller of a Sara Lee share to the buyer during the as-if-when-issued period of D.E MASTER BLENDERS 1753 on Euronext and Hillshire Brands on NYSE. The due bill represents the special dividend as well as the share of D.E MASTER BLENDER 1753. The buyer of the due bill will therefore receive the dividend and the share of D.E MASTER BLENDERS 1753 in addition to its SLE shares.
- As of when will D.E MASTER BLENDERS 1753’s shares be traded?
D.E MASTER BLENDERS 1753 shares will start to be officially traded on July 9th. The first official trading day will be preceded by a period of so-called “As, If and When Issued trading”. This period will start on June 12th, 2012.
- What is “As, If and When Issued trading” (AIW)?
This refers to conditional trading in authorised D.E MASTER BLENDERS 1753 shares before the effective listing date. When-issued securities can be bought or sold like ordinary securities except that transactions during AIW trading do not settle until the settlement date, which has been set on the 9th of July, 2012. The transaction remains conditional on the actual issue of the shares. In the unlikely event the transaction does not complete the trades in the AIW trading and the transaction will be cancelled.
- How long is the AIW trading period?
AIW trading starts 12 June 2012 for both D.E MASTER BLENDERS 1753 and Hillshire Brands. AIW trading in D.E MASTER BLENDERS 1753 will end 9 July 2012 as an additional period is required to settle the Due Bills. AIW trading in Hillshire Brands and regular trading in SLE ends 29 June 2012.
- Can I participate in the “As, If and When Issued trading”?
This depends on your stockbroker. Please contact your representative.
- Where is D.E MASTER BLENDERS 1753 listed and traded and what is the ticker symbol and ISIN code?
D.E MASTER BLENDERS 1753 is traded on NYSE Euronext Amsterdam. The ticker symbol is DE and the ISIN code is NL00010157558
- Does D.E MASTER BLENDERS 1753 intend to apply for an ADR program?
No, at this time the company does not plan to trade on a US exchange.
- Will D.E MASTER BLENDERS 1753 do any share buybacks in their first year?
Any decisions on share repurchase strategy will be made by D.E MASTER BLENDERS 1753 board if and when appropriate.
- Is D.E MASTER BLENDERS 1753 fully compliant to the Dutch corporate governance code?
We intend to comply with each of the requirements of the Dutch Corporate Governance Code (except for the provision limiting remuneration in the case of dismissal to no more than one year’s salary).
- Does D.E MASTER BLENDERS 1753 fall under Dutch law?
Yes
- What is the number of outstanding common shares?
The number of outstanding shares is approximately 590 million on the moment of spin off.
- Where can I find information about D.E MASTER BLENDERS 1753’s financial results?
The financial results are available to read in the prospectus, here
- What accounting convention does D.E MASTER BLENDERS 1753 adhere to?
D.E MASTER BLENDERS 1753 adheres to the International Financial Reporting Standards (IFRS) and International Accounting Standards (IAS).
- What is D.E MASTER BLENDERS 1753’s official accounting currency?
D.E MASTER BLENDERS 1753 reports in euros.
- When will D.E MASTER BLENDERS 1753 release its FY12 results?
D.E MASTER BLENDERS 1753 will publish its FY12 results on 29th of August 2012.
- When will D.E MASTER BLENDERS 1753 publish its annual report?
D.E MASTER BLENDERS 1753’s annual report will be published on 26th of September 2012.
- Where can I find historical information and financials on D.E MASTER BLENDERS 1753?
Historical information, including FY2009 – FY2011 financials are available in our prospectus that can be found here.
- What is D.E MASTER BLENDERS 1753’s dividend policy?
D.E MASTER BLENDERS 1753 intends to reach a pay-out ratio of 30% in the mid-term. To read more about the dividend policy, please click here.
- How can I receive automatic notification of your news releases?
You can receive automatic notification of company news by signing up to our news alert service here.
- My question isn’t answered here, how can I get in contact for additional information?
You can find all relevant contact details by clicking here
