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RFM Clarifies Swift Ownership

Disclosure is being made to clarify that Swift Foods Inc. (SFI), the listed company which is into poultry production and processing, is not a subsidiary of RFM Corporation. RFM does not have any significant holdings in SFI. All RFM holdings of SFI shares have been given out as property dividends to RFM shareholders, thus making SFI directly owned by the public and no longer by RFM. The move was undertaken in line with the direction of RFM to focus on its branded products in fast-moving consumer categories.


Furthermore, the Swift name is owned by RFM. Thus, the agreement between RFM and SFI provides that SFI shall cease to use Swift in its company name and chicken products if and when it discontinues its poultry business.


To further clarify, RFM uses and will continue to use the Swift brand for its consumerorientedproducts such as processed meats (e.g., hotdogs, bacon and hams) and for canned meats (e.g., corned beef, corned chicken, luncheon meat and sausages). These are continuing businesses under RFM Corporation.


This disclosure is being made to guide the public in light of the recent report about the possible sale of SFI's property in Mandaluyong and Pasig.

 

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