Banner Chemicals PLC - Offer Extended/Acceptances
06 8월 1999 - 4:35PM
UK Regulatory
RNS No 6335u
BANNER CHEMICALS PLC
5 August 1999
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES
OF AMERICA OR CANADA
PETROFERM UK LIMITED ("PETROFERM UK")
a wholly owned subsidiary of PETROFERM INC. ("PETROFERM")
RECOMMENDED CASH OFFER
FOR
BANNER CHEMICALS PLC ("BANNER")
LEVEL OF ACCEPTANCES AND EXTENSION OF OFFER
Petroferm UK announces that, as at 3.00 pm on 5 August 1999, Petroferm or
Petroferm UK owned or had received valid acceptances in respect of an
aggregate 50,594,344 Banner Shares, representing approximately 67.1 per
cent. of the issued share capital of Banner. The Offer for Banner has been
extended and will remain open for acceptance until 3.00 p.m. on 26 August
1999.
Immediately prior to the announcement of the Offer, Petroferm UK held
500,000 Banner Shares, representing approximately 0.7 per cent. of Banner's
issued share capital, and Petroferm UK had received irrevocable
undertakings to accept the Offer from certain Banner Shareholders,
including the Banner directors, in respect of a further 7,845,028 Banner
Shares, representing approximately 10.4 per cent. of Banner's issued share
capital. Accordingly, immediately prior to the announcement of the Offer,
Petroferm or Petroferm UK owned or had received irrevocable undertakings to
accept the Offer in respect of a total of 8,345,028 Banner Shares,
representing approximately 11.1 per cent. of Banner's issued share capital.
Since the announcement of the Offer, Petroferm UK has acquired in aggregate
a total of 8,564,125 Banner Shares, representing approximately 12.0 per
cent. of Banner's issued share capital.
By 3.00 pm on 5 August 1999, valid acceptances of the Offer had been
received in respect of a total of 41,530,219 Banner Shares, representing
approximately 55.1 per cent. of Banner's issued share capital. Valid
acceptances in respect of 7,781,480 Banner Shares the subject of the
irrevocable undertakings referred to above, are included in these
acceptances.
Save as disclosed in this announcement, neither Petroferm UK nor any
persons deemed to be acting in concert with Petroferm UK held any Banner
Shares (or rights over such shares) immediately prior to the commencement
of the Offer Period, nor have they acquired or agreed to acquire any Banner
Shares (or rights over such shares) during the Offer Period.
Enquiries:
IDJ Limited John Incledon 0171 499 0355
Charles Sebag-Montefiore
Banner Chemicals Alan Howarth 01928 597000
Tim McInnes
Hawkpoint Partners Tom Bayne 0171 665 4500
Julie Silvester
Binns & Co. John Wade 0171 786 9600
Peter Binns
The definitions set out in the Offer document dated 15 July 1999 apply in
this announcement. The Offer is not being made, directly or indirectly, in
or into the United States, Canada, Australia or Japan. Accordingly, copies
of this announcement are not being, and must not be, mailed or otherwise
distributed or sent in or into the United States, Canada, Australia or
Japan.
The Petroferm Directors accept responsibility for the information contained
in this announcement, and to the best of their knowledge and belief (having
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.
IDJ Limited, which is regulated in the UK by The Securities and Futures
Authority Limited, is acting exclusively for Petroferm and Petroferm UK and
no one else in connection with the Offer and will not be responsible to
anyone other than Petroferm and Petroferm UK for providing the protections
afforded to customers of IDJ, or for giving advice in relation to the
Offer.
END
OFFBCGBILBGCCCU
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