Jardine Matheson Hldgs Ld
19 September 2007
To: Business Editor For immediate release
Not for release, publication or distribution, in Canada (other than the Province
of Ontario), Japan, Malaysia or South Africa or any other jurisdiction where to
do so would constitute a violation of the relevant laws of such jurisdiction.
Jardine Matheson Announces Results of Tender Offers
19th September 2007 - Jardine Matheson Holdings Limited ('Jardine Matheson')
today announced the results of the Tender Offers made to purchase shares in
Jardine Strategic Holdings Limited ('Jardine Strategic') and to repurchase its
own shares. The Tender Offers were announced on 15th August 2007 and closed on
18th September 2007.
Tender Offer to Purchase Shares in Jardine Strategic
Jardine Matheson has received valid tenders for 8,539,012 shares in Jardine
Strategic under the Tender Offer ('JS Tender Offer') to purchase Jardine
Strategic Shares.
In accordance with the terms of the JS Tender Offer, the Strike Price has been
set at US$14.50 per Jardine Strategic Share. As the JS Tender Offer has not
been fully subscribed, all valid Tenders have been accepted in full and will be
purchased at the Strike Price. The total consideration payable under the JS
Tender Offer is US$123.8 million.
The JS Tender Offer was made pursuant to the share repurchase authority approved
by Jardine Strategic shareholders at the annual general meeting held in May
2007.
Tender Offer to Repurchase Jardine Matheson Shares
Jardine Matheson has received valid tenders for 338,581 Jardine Matheson Shares
under the Tender Offer ('JM Tender Offer') to repurchase Jardine Matheson
Shares.
In accordance with the terms of the JM Tender Offer, the Strike Price has been
set at US$25.00 per Jardine Matheson Share. As the JM Tender Offer has not been
fully subscribed, all valid Tenders have been accepted in full and will be
repurchased at the Strike Price. The total consideration payable under the JM
Tender Offer is US$8.5 million.
The JM Tender Offer was made pursuant to the share repurchase authority approved
by Jardine Matheson shareholders at the annual general meeting held in May 2007.
Settlement
The total consideration payable by Jardine Matheson under both Tender Offers is
approximately US$132.3 million. Payment will be sent on 25th September 2007 in
respect of accepted Tenders in accordance with the terms of the Tender Offers.
Balance share certificates in respect of partial Tenders will be despatched on
2nd October 2007.
The Jardine Matheson Group
With a broad portfolio of market-leading businesses, the Jardine Matheson Group
is an Asian-based conglomerate with extensive experience in the Region. Its
business interests include Jardine Pacific, Jardine Motors Group, Hongkong Land,
Dairy Farm, Mandarin Oriental, Jardine Cycle & Carriage and Jardine Lloyd
Thompson. These companies are leaders in the fields of engineering and
construction, transport services, motor trading, property, retailing,
restaurants, hotels, financial services and insurance broking.
- end -
This announcement is not intended to and does not constitute an offer or
invitation to purchase any securities pursuant to the Tender Offers or
otherwise. The Tender Offers were made solely through the Tender Offer
Documents, which contained the full terms and conditions of the Tender Offers.
The release, publication or distribution of this announcement is prohibited in
Canada (other than the Province of Ontario), Japan, Malaysia or South Africa and
the release, publication or distribution of this announcement in other
jurisdictions may be restricted by law and therefore any persons who are subject
to the laws of any such jurisdiction should inform themselves about, and
observe, any applicable requirements.
For further information, please contact:-
Jardine Matheson Limited
Neil M McNamara
(852) 2843 8227
GolinHarris
Nick Bradbury
(852) 2501 7910
This and other Group announcements can be accessed through the Internet at '
www.jardines.com'.
This information is provided by RNS
The company news service from the London Stock Exchange ID
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