Shareholders in fruit group Fyffes have approved the spin-off of its general produce and distribution business to Total Produce.
Following the vote at an EGM this morning, shares in Total Produce will be allotted to Fyffes' shareholders, appearing on the register at 5pm on December 29.
It is expected that trading in Total Produce shares will start on IEX and AIM at 8am on Tuesday January 2.
Shareholders also backed Fyffes' plan to move trading in its shares from the official lists on the Dublin and London stock exchanges. The shares begin trading on the IEX in Dublin and AIM in London on January 10.
Shares in Fyffes closed down three cent at €1.64 in Dublin.
