Recommended Offer by the Interpublic Group
Brands Hatch Leisure PLC
30 November 1999
Not for release, publication or distribution in or into the
United States of America, Canada, Australia or Japan
RECOMMENDED OFFER
by
THE INTERPUBLIC GROUP OF COMPANIES, INC.
for
BRANDS HATCH LEISURE PLC
The board of Interpublic announces that, as at 3.00pm on 30
November 1999, the initial closing date of the Offer, it had
received valid acceptances of the Offer from shareholders in
Brands Hatch in respect of 19,535,830 Brands Hatch Shares
representing approximately 89.2 per cent of Brands Hatch's
issued ordinary share capital. As at 4.30pm on 30 November
1999, valid acceptances in respect of 19,931,486 Brands
Hatch Shares representing approximately 91.0 per cent of the
company's issued share capital, had been received.
Accordingly, Interpublic is pleased to announce that the
Offer has become wholly unconditional and will remain open
for acceptance until 3.00pm on 14 December 1999. Forms of
Acceptance received after that time will not be accepted.
Following that date, Interpublic intends to issue, in due
course, compulsory acquisition notices pursuant to Section
429 of the Companies Act to all those holders of Brands
Hatch Shares who have not accepted the Offer and to cause
Brands Hatch to make an application for the listing of
Brands Hatch Shares on the London Stock Exchange to be
cancelled.
Prior to 22 October 1999 (the date on which the Offer Period
commenced) neither Interpublic nor any person acting in
concert with Interpublic for the purposes of the Offer held
any Brands Hatch Shares (or rights over such shares) and,
other than pursuant to the Offer, no such persons have
acquired or agreed to acquire any Brands Hatch Shares (or
rights over such shares) since 22 October 1999. Of the
acceptances received by Interpublic, 6,573,804 Brands Hatch
Shares, representing approximately 30.0 per cent of Brands
Hatch's issued ordinary share capital, were the subject of
irrevocable undertakings to accept the Offer.
30 November 1999
ENQUIRIES
The Interpublic Group of Companies, Inc.
Philip Geier, Jr. (Chairman of the Board, President and
Chief Executive Officer)
Eugene Beard (Vice Chairman, Finance and Operations)
Telephone Number: +1 212 399 8000
Website address: www.interpublic.com
Octagon
Frank Lowe (Chairman of the Board and Chief Executive
Officer of Octagon and a director of Interpublic)
Telephone Number: 0171 881 8888 or +1 212 888 8847
Website address: www.octagon.com
PricewaterhouseCoopers
Philip Kendall
Gerry Young
Telephone Number: 0171 583 5000
Brands Hatch Leisure plc
Nicola Foulston (Chief Executive)
Robert Bain (Group Finance Director)
Telephone Number: 0171 466 5010
Website address: www.brands-hatch.co.uk
Pannell Kerr Forster
Nick Whitaker
Hugh Mathew-Jones
Telephone Number: 0171 831 7393
This announcement has been approved by
PricewaterhouseCoopers as an investment advertisement solely
for the purposes of Section 57 of the UK Financial Services
Act 1986.
PricewaterhouseCoopers, which is authorised to carry on
investment business by The Institute of Chartered
Accountants in England and Wales, is acting for Interpublic
and no-one else in connection with the Offer and will not be
responsible to anyone other than Interpublic for providing
the protections afforded to clients of
PricewaterhouseCoopers or for giving advice in relation to
the Offer.
Pannell Kerr Forster, which is authorised to carry on
investment business by The Institute of Chartered
Accountants in England and Wales, is acting for Brands Hatch
and no-one else in connection with the Offer and will not be
responsible to anyone other than Brands Hatch for providing
the protections afforded to clients of Pannell Kerr Forster
or for giving advice in relation to the Offer.
This announcement does not constitute an offer or an
invitation to purchase any securities.
Copies of this announcement are not being, and must not be,
mailed or otherwise distributed or sent in or into the
United States, Canada, Australia or Japan and persons
receiving this announcement (including custodians, nominees
and trustees) must not distribute or send it into or from
the United States, Canada, Australia or Japan.
Not for release, publication or distribution in or into the
United States, Canada, Australia or Japan.
The definitions used in the Offer Document also apply in
this announcement.