Innscor Africa Ltd. (ZMSE:INN) agreed to spin off Quick service restaurant business on October 12, 2015. Innscor Africa will separately list its restaurants unit on November 6, 2015 under the name Simbisa Brands Ltd. The transaction is subject to approval of the shareholders of Innscor, will be effected through a distribution of the entire issued share capital of Simbisa, being 541.59 million ordinary shares. The ratio comprises one ordinary share in Simbisa for every one existing Innscor ordinary share held.

Innscor Africa Limited's Board of Directors has approved the transaction.