Cadbury Schweppes plc (Cadbury Schweppes) announced today that, in connection with the proposed demerger of its American Beverages business to Dr Pepper Snapple Group, Inc. (DPSG), the US Securities and Exchange Commission (SEC) has declared DPSG's Form 10 Registration Statement effective. The document, which was revised and filed on 22 April, 2008 as the sixth filing of the Form 10 Registration Statement, is available on the SEC's website, www.sec.gov and will shortly be sent to shareowners.
As previously announced, the Court Meeting and the General Meeting to seek shareowner approval for the scheme and demerger were held on 11 April 2008. The scheme and all of the resolutions to effect the demerger were overwhelmingly approved by our shareowners.
We have been advised by the New York Stock Exchange (NYSE) that shares of DPSG common stock are expected to begin trading on a "when issued" basis on 28 April 2008 under the symbol "DPS wi" prior to their distribution as explained below. Investors are encouraged to consult with their financial advisors regarding the specific implications of trading in DPSG common stock before the expected distribution and listing date of 7 May 2008.
Once the scheme becomes effective, existing Cadbury Schweppes ordinary shares and ADRs will be cancelled and delisted to be replaced by Cadbury plc (Cadbury) ordinary shares, Cadbury beverage shares and ADRs. We expect Cadbury ordinary shares and ADRs to begin trading on the London Stock Exchange under symbol "CBRY" and on the NYSE under symbol "CBY", respectively on 2 May 2008. We do not expect a "when issued" market for Cadbury ordinary shares or ADRs.
In addition to Cadbury ordinary shares and ADRs, Cadbury Schweppes' shareowners who are on the register as at 6 pm on 1 May 2008 will be entitled to the shares of DPSG common stock when the demerger becomes effective. This is expected to occur on 7 May 2008. This entitlement will be held in the form of unlisted, non-tradable Cadbury beverage shares in the interim period between 2 May and 7 May, 2008 and regular trading in DPSG common stock will commence on 7 May, 2008 on the NYSE under the symbol "DPS".
Summary of Expected Key Dates
28 April - DPSG expected to begin trading on "when issued" basis on the NYSE
6 pm (UK time) 1 May - Record and ex-dividend time for 2007 Cadbury Schweppes final dividend
6 pm (UK time) 1 May - Scheme record time
2 May - Listing of Cadbury ordinary shares on the London Stock Exchange
2 May - Listing of Cadbury ADRs on the NYSE
7 May - Listing of DPSG shares on the NYSE
16 May - Payment of Cadbury Schweppes 2007 final dividend
16 May - Posting of Cadbury plc share certificates and DPSG registration statements
The dates given above are indicative only and may be subject to change.
Additional information about the demerger is available at www.cadburyschweppes.com/demerger
About Cadbury Schweppes
Cadbury Schweppes is the world's largest confectionery company and has strong regional beverages businesses in North America and Australia. With origins stretching back over 200 years, today Cadbury Schweppes' products - which include brands such as Cadbury, Schweppes, Halls, Trident, Dr Pepper, Snapple, Trebor, Dentyne, Bubblicious and Bassett - are enjoyed in almost every country around the world. The Group employs over 70,000 people.
About Cadbury plc
Cadbury plc is the world's largest confectionery business with number one or number two positions in 20 of the world's 50 largest confectionery markets. It also has the largest and most broadly spread emerging markets business of any confectionery company. With origins stretching back over 150 years, Cadbury's brands include many global, regional and local favourites including Cadbury, Creme Egg and Green and Black's in chocolate; Trident, Dentyne, Hollywood and Bubbaloo in gum; and Halls, Cadbury Eclairs, Maynards and the Natural Confectionery Company in candy.
About Dr Pepper Snapple Group, Inc.
Dr Pepper Snapple Group, Inc. (DPSG) is a leading brand owner, bottler and distributor of beverages in the North America market. It is the market leader in the flavoured carbonates soft drinks segment in the US and the number three liquid refreshment beverage business in North America.
Forward Looking Statements
Except for historical information and discussions contained herein, statements contained in these materials may constitute "forward looking statements" within the meaning of Section 27A of the US Securities Act of 1933, as amended, and Section 21E of the US Securities Exchange Act of 1934, as amended. Forward looking statements are generally identifiable by the fact that they do not relate only to historical or current facts or by the use of the words "may", "will", "should", "plan", "expect", "anticipate", "estimate", "believe", "intend", "project", "goal" or "target" or the negative of these words or other variations on these words or comparable terminology. Such forward looking statements include our plans for the separation of the Americas Beverages business. Forward looking statements involve a number of known and unknown risks, uncertainties and other factors that could cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward looking statements. These forward looking statements are based on numerous assumptions regarding the present and future strategies of each business and the environment in which they will operate in the future. In evaluating forward looking statements, you should consider various factors including the risk factors outlined in our Form 20-F filed with the US Securities and Exchange Commission and Circular and Prospectus filed with the UKLA on 19 March, 2008 and posted on Cadbury Schweppes' website www.cadburyschweppes.com/demerger. These materials should be viewed in conjunction with our periodic interim and annual reports, registration statements and other filings filed with or furnished to the Securities and Exchange Commission, copies of which are available from Cadbury Schweppes plc, 25 Berkeley Square, London W1J 6HB, UK and from the Securities and Exchange Commission's website at www.sec.gov. Cadbury Schweppes plc, Cadbury plc or DPSG do not undertake publicly to update or revise any forward looking statement that may be made in these materials, whether as a result of new information, future events or otherwise. All subsequent oral or written forward-looking statements attributable to Cadbury Schweppes, Cadbury plc or DPS or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above.