Offer Update

Greencore Group PLC 16 January 2001 Not for release, publication or distribution in or into Canada, Australia or Japan Greencore Group plc ('Greencore') recommended cash offer ('the Offer') for Hazlewood Foods plc ('Hazlewood') Greencore announces that it is today posting notices to those Hazlewood Shareholders who have not yet accepted the Offer informing them that it intends to apply the provisions of Sections 428-430F of the Companies Act to acquire compulsorily all their outstanding Hazlewood Shares on the terms of the Offer. The Offer will remain open for acceptance until further notice. As at 3.00 p.m. on 16 January 2001, valid acceptances of the Offer had been received in respect of 165,328,903 Hazlewood Shares, representing 72.4 per cent. of the issued ordinary share capital of Hazlewood. Included in the total acceptances referred to above are valid acceptances in respect of 70,915,482 Hazlewood Shares from the directors and certain other shareholders who had given irrevocable undertakings to accept the Offer. Prior to the commencement of the offer period, neither Greencore nor the Offeror owned any Hazlewood Shares. Since the announcement of the Offer, the Offeror has acquired 46,000,000 Hazlewood Shares, representing approximately 20.1 per cent. of the issued ordinary share capital of Hazlewood. Accordingly, as at 3.00 p.m. on 16 January 2001 , the Offeror owned or had received valid acceptances in respect of Hazlewood Shares, representing approximately 90.7 per cent. of the issued ordinary share capital of Hazlewood Shares to which the Offer relates. Save as disclosed above, neither Greencore nor any persons deemed to be acting in concert with Greencore (excluding exempt market makers and exempt fund managers) owns or is interested in, directly or indirectly, any Hazlewood Shares. Terms used in this announcement have the same meaning as in the Offer Document dated 21 November 2000. Enquiries: Greencore +353 1 605 1000 David Dilger Kevin O'Sullivan Ben Power Schroder Salomon Smith Barney +44 20 7986 4000 Peter Smart Mark Todd Financial Dynamics +44 20 7831 3113 Tom Baldock Drury Communications +353 1 260 5000 Billy Murphy Salomon Brothers International Limited, trading as Schroder Salomon Smith Barney ('Schroder Salomon Smith Barney'), which is regulated in the United Kingdom by The Securities and Futures Authority Limited, is acting for Greencore and the Offeror and no one else in connection with the Offer for Hazlewood, and will not be responsible for anyone other than Greencore and the Offeror for providing the protections afforded to customers of Schroder Salomon Smith Barney or for providing advice to any other person in relation to the Offer. Salomon Brothers International Limited (trading as Schroder Salomon Smith Barney) is regulated in the United Kingdom by the Securities and Futures Authority Limited. Salomon Smith Barney is a service mark of Salomon Smith Barney Inc. Schroders is a trademark of Schroders Holdings PLC and is used under licence.
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