| To: Business Editor | For immediate release |
Jardine Matheson Tender Offer Extended
4th September 2000 -- Jardine Matheson Holdings Limited today announced that as at 1st September 2000, it had received tenders for approximately 160 million of its ordinary shares under the Tender Offer announced on 3rd August 2000. In accordance with the terms set out in the circular to shareholders dated 4th August 2000, the Directors have therefore decided to extend the Tender Offer to allow the repurchase of up to a total of 165 million shares (representing approximately 20.4 per cent of the Company's issued share capital).
As the total share repurchase will not fall within the general share repurchase authority given to the Directors at the last Annual General Meeting, it will require shareholder approval. Accordingly, a Special General Meeting will be convened for 10:00 am on 22nd September 2000 to seek specific authority from shareholders for the repurchase of up to 165 million shares under the Tender Offer. A circular to shareholders containing details of the extension of the Tender Offer and the notice of the Special General Meeting will be posted to shareholders shortly.
The Tender Offer will now close at 5:00 pm (London time) on 22nd September 2000. During the extended tender period, shareholders may tender additional shares not previously tendered and they may amend the prices at which they have previously tendered their shares (subject to a minimum price of US$4.80 and a maximum price of US$5.50 per share). Shareholders who have already submitted tenders should note that tenders may not be withdrawn during the extension period. Additional tender forms are being sent together with the circular to shareholders.
Jardine Matheson is a multinational group of seven core businesses focused primarily on the Asia-Pacific region. Its operations employ some 150,000 people and its activities are leaders in the fields of supermarkets, consumer marketing, engineering and construction, insurance broking, motor trading, property and hotels. The Group is building its core businesses largely in Asia Pacific with the goal of enhancing shareholder value for the long term.
For further information, please contact:
| Jardine Matheson Limited Neil McNamara | (852) 2843 8227 |
| Golin/Harris Forrest Anne Forrest Sue Gourlay | (852) 2522 6475 (852) 2501 7936 |
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