| To : Business Editor | For immediate release |
Members' Resolutions to be Proposed at Jardine Strategic
Annual General Meeting
8th May 2000 -- Jardine Strategic Holdings Limited today announced that it had received notice on behalf of certain shareholders of their intention to propose members' resolutions at the Annual General Meeting to be held on 1st June 2000. The notice has been received from Brandes Investment Partners, L.P. ("Brandes"), a US registered investment advisory firm.
The resolutions deal with the role of the Directors of the Company who are also directors of Jardine Matheson Holdings Limited, require the Directors to vote the shares held by the Company in Jardine Matheson in favour of members' resolutions which have been submitted by Brandes for consideration at the annual general meeting of Jardine Matheson and propose an amendment to the Bye-Laws of the Company regarding the Directors' retirement by rotation provision. The members' resolutions are set out in the Addendum to the Notice of Annual General Meeting, which is being sent to shareholders.
The Board of Jardine Strategic is of the opinion that none of the members' resolutions to be proposed at the Annual General Meeting is in the long-term best interests of the shareholders, other stakeholders or the Company. Accordingly, shareholders are being recommended to vote against these resolutions, as the Directors intend to do in respect of their own beneficial shareholdings.
Jardine Strategic is a holding company which takes long-term strategic investments in multinational businesses, particularly those with an Asian focus, and in other high quality companies with existing or potential links with the Group. Its principal interests are in Jardine Matheson (38%), Dairy Farm (55%), Hongkong Land (35%), Mandarin Oriental (58%) and Cycle & Carriage (25%).
For further information, please contact:
Jardine Matheson Limited
| Neil M McNamara | Tel: (852) 2843 8227 (office) |
Forrest International Limited
| Sue Gourlay | Tel: (852) 2501 7936 (office) |
The Annual Report and the Addendum to the Notice of Annual General Meeting will be available on www.jardines.com after 9:00 am tomorrow.
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