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Wednesday 08 December, 2004

Moet Hennessy Invsts

Offer Update

Moet Hennessy Investissements
08 December 2004

Not for release, publication or distribution in whole or in part in, into or
from Canada or Australia





8 December 2004





                        MOET HENNESSY INVESTISSEMENTS SA

                       ('MOET HENNESSY INVESTISSEMENTS')



                  RECOMMENDED CASH OFFERS FOR GLENMORANGIE PLC

                                ('GLENMORANGIE')



                 OFFER DECLARED UNCONDITIONAL AS TO ACCEPTANCES





Moet Hennessy Investissements announces that, as at 3.00 p.m. (London time) on 7
December 2004, being the first closing date of the recommended cash offers for
Glenmorangie (the 'Offers') as set out in the offer document dated 16 November
2004 (the 'Offer Document'), valid acceptances of the Offers had been received
in respect of a total of 11,340,345 Glenmorangie 'A' Shares and 3,745,478
Glenmorangie 'B' Shares, representing approximately 95.71 per cent. of the
Glenmorangie 'A' Share capital and approximately 93.63 per cent. of the
Glenmorangie 'B' Share capital.



Neither Moet Hennessy Investissements nor any person acting, or deemed to be
acting, in concert with Moet Hennessy Investissements held any Glenmorangie
Shares or rights over Glenmorangie Shares prior to the Offer Period.  As at 20
October 2004, the date of announcement of the Offers, Moet Hennessy
Investissements had received irrevocable undertakings to accept (or procure the
acceptance of) the Offers from the Glenmorangie Directors, certain Macdonald
family members, certain trusts, and Voldgade Investment Holdings A/S in respect
of 5,343,982 Glenmorangie 'A' Shares and in respect of 2,827,465 Glenmorangie '
B' Shares, representing approximately 45.1 per cent of Glenmorangie's issued 'A'
share capital and approximately 70.7 per cent of Glenmorangie's issued 'B' share
capital, in total representing 61.2 per cent of the voting rights of
Glenmorangie.  Valid acceptances have been received in respect of all of the
shares that were subject to these irrevocable undertakings, all of which are
included in the totals of valid acceptances referred to above.



Moet Hennessy Investissements announces that, as at 7 December 2004, the
acceptance condition of the Offers as set out in the Offer Document has now been
satisfied.  Accordingly, the Offers are now declared unconditional as to
acceptances. The Offers will remain open for acceptance until further notice.



PRESS ENQUIRIES:

Moet Hennessy                                         Tel:  +33 (1) 44 13 22 22
Chris Hollis

Michel Calzaroni / Olivier Labesse (DGM)              Tel:  +33 (1) 40 70 11 89
Hugh Morrison (M: Communications)                     Tel:  +44 (0) 20 7153 1534

Lazard (Financial adviser to Moet Hennessy)
Paris                                                 Tel:  +33 (1) 44 13 01 11
Georges Ralli
Alexandra Soto

London                                                Tel:  +44 (0) 20 7187 2000
William Rucker
Nicholas Hill




Terms defined in the Offer Document have the same meaning in this announcement.



The Offers, including the Loan Note Alternatives, are not being made in or into,
and are not capable of acceptance in or from, Canada or Australia. Custodians,
nominees and trustees should observe these restrictions and should not send or
distribute documents in or into Canada or Australia.



The Loan Notes have not been, and will not be, registered under the US
Securities Act or under the securities laws of any state or other jurisdiction
of the United States, Canada, Australia, France or Japan. Accordingly, the Loan
Notes may not (unless an exemption under the relevant securities laws is
applicable) be offered, sold, resold, delivered or transferred, directly or
indirectly, in or into the United States, Canada, Australia, France or Japan or
to, or for the account or benefit of, a person located in the United States,
Canada, Australia, France or Japan. In accordance with article L. 211-4 of the
French Code monetaire et financier, securities such as the Loan Notes, which are
governed by French law and are in materialised form, must be issued outside
France. Accordingly, the Loan Notes may not be offered or sold, directly or
indirectly, in France.



Lazard is acting exclusively for Moet Hennessy Investissements and Moet Hennessy
and no-one else in connection with the Offers and will not be responsible to
anyone other than Moet Hennessy Investissements and Moet Hennessy for providing
the protections afforded to clients of Lazard nor for providing advice in
relation to the Offers.



This announcement does not constitute an offer or invitation to purchase any
securities or a solicitation of an offer to buy any securities pursuant to the
Offers or otherwise.


                      This information is provided by RNS
            The company news service from the London Stock Exchange                                                                                                                                                                                                                                          

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