The Treasurer

Question on Notice – 14 August 2012

Question on Notice – 14 August

I refer the Treasurer, the Hon Wayne Swan MP,  to your decision of the 25 November 2011 to approve the acquisition of Foster’s Group Limited by SABMiller plc via a scheme of arrangement.

As part of the approval process a number of undertakings were made to shareholders, employees and yourself by SABMiller plc on the future conduct of SABMiller plc if approval were to be given for the takeover to proceed.

Might Australian Guardians ask the Treasurer to contact the Chairman of SABMiller plc, Mr Meyer Kahn and to again seek his assurance that SABMiller plc will stand by its commitments given to shareholders, employees and yourself with respect to employees receiving all payments and benefits even if these benefits are “deferred benefits” to be paid when Members attain the Normal Retirement Age of 65 (or voluntarily elect to receive superannuation benefits after attaining the Early Retirement Age of 55 and being no longer in the service of the employer and being properly informed of their rights).

Recent presentation given to employees who are Members of the final salary Defined Benefit fund by an employee of the National Australia Bank who is an employee of the Fund Administrator indicate that employees will not receive their lawful entitlements

Answer: Awaiting

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