| To : Business Editor | For immediate release |
Offer Document Despatched to Cycle & Carriage Shareholders
7th December 2000 -- Jardine Strategic Holdings Limited today announced that the offer document for the conditional take-over offer of Cycle & Carriage Limited ("C&C") had been despatched to C&C's shareholders and optionholders. The take-over offer is being made by UBS Warburg on behalf of Jardine Strategic's wholly-owned subsidiary, JSH Singapore Investments Limited.
The take-over offer is being made solely to comply with the Singapore regulatory requirements. It is not the intention of Jardine Strategic or parties acting in concert with it to acquire control of C&C. However, Jardine Strategic believes that the share price of S$3.30 (which is the offer price) is sufficiently attractive for it to increase its stake in C&C above 25%, notwithstanding that this has resulted in incurring an obligation to make a take-over offer to comply with the Singapore regulations.
The take-over offer shall remain open to the C&C shareholders until 3:30 pm on 28th December 2000.
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 attributable interests are in Jardine Matheson (50%), Dairy Farm (59%), Hongkong Land (35%), Mandarin Oriental (62%) and Cycle & Carriage (25%).
For further information, please contact:
| Jardine Matheson Limited | |
| Neil M McNamara | (852) 2843 8227 |
| Golin/Harris Forrest | |
| Sue Gourlay | (852) 2501 7936 |
| © Copyright 1996-2008 irasia.com Ltd. All rights reserved. Tel: (852) 2831-9792. |
|
DISCLAIMER: irasia.com Ltd makes no guarantee as to the accuracy or completeness of any
information provided on this website. Under no circumstances shall irasia.com Ltd be liable
for damages resulting from the use of the information provided on this website.
TRADEMARK & COPYRIGHT: All intellectual property rights subsisting in the contents of this website belong to irasia.com Ltd or have been lawfully licensed to irasia.com Ltd for use on this website. All rights under applicable laws are hereby reserved. Reproduction of this website in whole or in part without the express written permission of irasia.com Ltd is strictly prohibited. TERMS OF USE: Please read the Terms of Use governing the use of our website. |