Macfarlane Group PLC
15 December 2000
PRESS RELEASE
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES,
CANADA, AUSTRALIA, THE REPUBLIC OF IRELAND OR JAPAN
15 December 2000
FOR IMMEDIATE RELEASE
MACFARLANE GROUP INCREASED FINAL* CASH OFFER FOR BRITISH POLYTHENE INDUSTRIES
PLC
Support for Macfarlane's Increased Final Cash Offer
The board of Macfarlane announces that Macfarlane now owns or has received
acceptances in respect of 11,691,015 BPI shares representing approximately
31.7 per cent. of the issued share capital of BPI. Macfarlane owns 4,872,398
BPI shares (representing approximately 13.2 per cent. of the issued share
capital of BPI). As at 3.00 pm on Thursday 14 December Macfarlane had secured
valid acceptances in respect of 6,818,617 BPI shares (representing
approximately 18.5 per cent. of the issued share capital of BPI).
Macfarlane urges all BPI shareholders now to accept its Increased Final Offer
of 310 pence for every BPI share.
This announcement should be read in conjunction with the Original Offer
Document, the document sent to BPI shareholders on 2 November 2000, the
Increased Final Offer Document, the letters sent to BPI shareholders on 8
December 2000 and 12 December 2000, and the Revised Form of Acceptance.
Definitions contained in these documents apply in this announcement save where
the context requires otherwise.
* Macfarlane reserves the right to revise and/or increase and/or extend the
Increased Final Offer in the event of a competitive situation (as
determined by the Panel) arising or otherwise with the consent of the
Panel.
Enquiries:
Macfarlane Group PLC 0141 333 9666
Iain Duffin
Noble Grossart Limited 0131 226 7011
Sir Angus Grossart
Todd Nugent
HSBC 020 7336 9000
John Hannaford
Bell Pottinger 020 7353 9203
David Rydell
Kate Power
Beattie Media 01698 787878
Gordon Beattie
Copies of the Original Offer Document, the document sent to BPI shareholders
on 2 November 2000, the Increased Final Offer Document, the lettesr sent to
BPI shareholders on 8 December 2000 and 12 December 2000, and the Revised Form
of Acceptance are available free of charge from Lloyds TSB Registrars,
Antholin House, 71 Queen Street, London EC4N 1SL (telephone 0870 600 2027).
The directors of Macfarlane (whose names are set out in paragraph 2 of part 7
of the Original Offer Document) accept responsibility for the information
contained in this announcement. To the best of the knowledge and belief of the
directors of Macfarlane (who have taken all reasonable care to ensure that
such is the case), the information contained in this announcement is in
accordance with the facts and does not omit anything likely to affect the
import of such information.
Noble Grossart, which is regulated in the UK by The Securities and Futures
Authority Limited, is acting for Macfarlane and no one else in connection with
the Increased Final Offer, and will not be responsible to anyone other than
Macfarlane for providing the protections afforded to customers of Noble
Grossart, or for providing advice in relation to the Increased Final Offer.
The contents of this announcement have been approved by Noble Grossart for the
purpose only of Section 57 of the Financial Services Act 1986.
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
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