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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