TIDMJDS TIDMJAR
RNS Number : 4185R
Jardine Strategic Hldgs Ltd
08 March 2021
8 March 2021
For immediate release
not for release, publication or distribution in whole or in
part, in, into or from any jurisdiction where to do so would
constitute a violation of the relevant laws of such jurisdiction.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.
RECOMMED CASH ACQUISITION
of
Jardine Strategic Holdings Limited ("Jardine Strategic")
by
Jardine Matheson Holdings Limited ("Jardine Matheson")
(to be implemented by way of an amalgamation under the Bermuda
Companies Act)
Summary
-- Jardine Matheson and Jardine Strategic are pleased to
announce that Jardine Strategic has agreed to a proposal made by
Jardine Matheson on the terms of a recommended cash acquisition by
Jardine Matheson of the 15 per cent. of Jardine Strategic's issued
share capital which Jardine Matheson or its wholly-owned
subsidiaries do not already own (the "Acquisition"). The
Acquisition will be implemented by way of an amalgamation under the
Bermuda Companies Act.
-- Under the Bermuda Companies Act, a special general meeting of
Jardine Strategic will be convened to consider and vote on the
Acquisition ("Special General Meeting") and all shareholders of
Jardine Strategic ("Jardine Strategic Shareholders"), including
Jardine Matheson and its subsidiaries, are entitled to vote at that
Special General Meeting.
-- Under the terms of the Acquisition, Jardine Strategic
Shareholders (other than Jardine Matheson and its wholly-owned
subsidiaries) ("Independent Jardine Strategic Shareholders") shall
be entitled to receive US$33.00 in cash for each Jardine Strategic
Share (the "Acquisition Price"), representing a premium of
approximately:
o 20.2 per cent. to the Closing Price of US$27.45 per Jardine
Strategic Share on 5 March 2021, being the last Business Day prior
to this announcement;
o 29.0 per cent. to the volume-weighted average Closing Price of
US$25.58 per Jardine Strategic Share over the one-month period
ended 5 March 2021, being the last Business Day prior to this
announcement; and
o 40.3 per cent. to the volume-weighted average Closing Price of
US$23.53 per Jardine Strategic Share over the six-month period
ended 5 March 2021, being the last Business Day prior to this
announcement.
-- It is expected that the Acquisition Price will be paid by the end of April 2021.
-- As a number of the directors of Jardine Strategic are also
directors of Jardine Matheson, the board of Jardine Strategic has
delegated responsibility for considering the Acquisition to a
committee of directors, comprising of those Jardine Strategic
Directors who are not also directors of Jardine Matheson (the
"Jardine Strategic Transaction Committee").
-- The Jardine Strategic Transaction Committee, which has been so advised by Evercore Partners International LLP ("Evercore") as to the financial terms of the Acquisition, considers the terms of the Acquisition to be fair and reasonable insofar as Independent Jardine Strategic Shareholders are concerned. In providing financial advice to the Jardine Strategic Transaction Committee, Evercore has taken into account the commercial assessment of the Jardine Strategic Transaction Committee. The Jardine Strategic Transaction Committee is unanimously in favour of the Acquisition.
-- Under Bermuda law and Jardine Strategic's Bye-laws, the
Acquisition must be approved by a majority of at least 75 per cent.
of the votes cast by Jardine Strategic Shareholders. Jardine
Matheson and its subsidiaries are entitled to vote on the
Amalgamation Resolution and Jardine Matheson has undertaken to
Jardine Strategic that it will vote, and will procure that its
wholly-owned subsidiaries vote, the 940,903,135 Jardine Strategic
Shares (representing 84.89 per cent. of the existing issued share
capital of Jardine Strategic) held by Jardine Matheson and its
wholly-owned subsidiaries in favour of the Amalgamation Resolution
at the Special General Meeting. Hence the requisite Jardine
Strategic Shareholders' approval is certain to be secured.
-- A shareholder circular (the "Circular"), setting out the
details of the Acquisition, the procedures to be followed to
approve the Acquisition and the notice of the Special General
Meeting, will be published as soon as practicable after the date of
this announcement. The Circular shall be made available by Jardine
Strategic and Jardine Matheson at www.Jardines.com. The Special
General Meeting is expected to be held in early April 2021, and the
Acquisition is expected to become effective within four Business
Days of the Special General Meeting.
-- The Acquisition will be subject to the Conditions, including
the approval of the Amalgamation Resolution by Jardine Strategic
Shareholders at the Special General Meeting.
-- Under the terms of the Implementation Agreement Jardine
Strategic has undertaken not to declare or pay any dividend prior
to the Acquisition Effective Date.
-- Requests will be made by Jardine Strategic to each of the
Financial Conduct Authority, the London Stock Exchange, the
Singapore Exchange and the Bermuda Stock Exchange to cancel Jardine
Strategic's stock exchange listings.
-- Jardine Matheson and Jardine Strategic will announce their
2020 Preliminary Results on 11 March 2021. Jardine Strategic's
results are expected to be in line with market expectations, with
Jardine Strategic's full year underlying net profit of US$1,094
million(1) .
-- A recording of a presentation to analysts (to be made at 7.45
a.m. (Hong Kong time) on Monday, 8 March 2021) will be available on
the Group website at https://www.jardines.com/en/ir/ir.html from
9:30 a.m. (Hong Kong time) on Monday, 8 March 2021.
Enquiries:
For further information, please
contact:
Brunswick
Tom Burns +44 (0) 20 7404 5959
Tim Payne +852 3512 5000
Advisors
J.P. Morgan Securities plc, which conducts its UK investment
banking business as J.P. Morgan Cazenove ("J.P. Morgan Cazenove"),
and Simon Robertson Associates LLP are acting as lead financial
advisors, and The Hongkong and Shanghai Banking Corporation Limited
("HSBC") is acting as financial advisor, to Jardine Matheson in
connection with the Acquisition. Linklaters LLP is acting as legal
advisor to Jardine Matheson in connection with the Acquisition.
Evercore Partners International LLP ("Evercore") is acting as
financial advisor to the Jardine Strategic Transaction Committee in
connection with the Acquisition. Slaughter and May is acting as
legal advisor to the Jardine Strategic Transaction Committee in
connection with the Acquisition.
Important Notices
J.P. Morgan Cazenove, which is authorised in the United Kingdom
by the Prudential Regulation Authority (the "PRA") and regulated by
the PRA and the Financial Conduct Authority, is acting as financial
adviser exclusively for Jardine Matheson and no one else in
connection with the Acquisition and will not regard any other
person as its client in relation to the Acquisition and will not be
responsible to anyone other than Jardine Matheson for providing the
protections afforded to clients of J.P. Morgan Cazenove or its
affiliates, nor for providing advice in relation to the Acquisition
or any other matter or arrangement referred to herein.
Simon Robertson Associates LLP, which is regulated in the UK by
the Financial Conduct Authority, is acting as financial adviser
exclusively for Jardine Matheson and no one else in connection with
the Acquisition and will not regard any other person as its client
in relation to the Acquisition and will not be responsible to
anyone other than Jardine Matheson for providing the protections
afforded to clients of Simon Robertson Associates LLP or its
affiliates nor for providing advice in relation to the Acquisition
or any other matter or arrangement referred to herein.
HSBC, being a financial adviser to Jardine Matheson in relation
to the Acquisition, is a registered institution under the
Securities and Futures Ordinance (Chapter 571 of the Laws of Hong
Kong) ("SFO"), registered to carry on Type 1 (dealing in
securities), Type 2 (dealing in futures contracts), Type 4
(advising on securities), Type 5 (advising on futures contracts),
Type 6 (advising on corporate finance) and Type 9 (asset
management) regulated activities under the SFO and a licensed bank
under the Banking Ordinance (Chapter 155 of the Laws of Hong
Kong).
Evercore is regulated in the UK by the Financial Conduct
Authority is acting exclusively for the Jardine Strategic
Transaction Committee and no one else in connection with the
Acquisition and shall not be responsible to anyone other than the
Jardine Strategic Transaction Committee for providing the
protections afforded to clients of Evercore nor for providing
advice in connection with the Acquisition or any matter referred to
herein. Neither Evercore nor any of its subsidiaries, branches or
affiliates owes or accepts any duty, liability or responsibility
whatsoever (whether direct or indirect, whether in contract, tort,
under statute or otherwise) to any person who is not a client of
Evercore in connection with the Acquisition or any statement
contained herein or otherwise.
This announcement is for information purposes only and is not
intended to and does not constitute, or form part of, an offer,
invitation or the solicitation of an offer to purchase, otherwise
acquire, subscribe for, sell or otherwise dispose of any securities
or the solicitation of any vote or approval in any jurisdiction in
contravention of applicable law. This announcement does not
constitute a prospectus or prospectus exempted document.
The Circular will contain the full terms and conditions of the
Acquisition, including details of how to vote in respect of the
Amalgamation. Any decision in respect of, or other response to, the
Acquisition should be made only on the basis of the information in
the Circular. Jardine Strategic Shareholders are advised to read
the formal documentation in relation to the Acquisition carefully,
once it has been dispatched.
If the Amalgamation becomes effective, all Jardine Strategic
Shares will be cancelled pursuant to the Amalgamation and each
Independent Jardine Strategic Shareholder will receive payment of
the Acquisition Price.
Notice to United States Holders of Jardine Strategic Shares
The Acquisition relates to the shares of a Bermudian company and
is being made by means of an amalgamation provided for under
Bermudian company law. A transaction effected by means of an
amalgamation is not subject to the tender offer rules or the proxy
solicitation rules under the US Securities Exchange Act of 1934.
Accordingly, the Acquisition is subject to the disclosure
requirements and practices applicable in Bermuda to amalgamations,
which differ from the disclosure requirements of United States
tender offer and proxy solicitation rules. The financial
information included or incorporated by reference in this document
has been prepared in accordance with International Financial
Reporting Standards (as adopted by the European Union) and thus may
not be comparable to financial information of US companies or
companies whose financial statements are prepared in accordance
with generally accepted accounting principles in the United
States.
Jardine Strategic is a company incorporated under the laws of
Bermuda. A majority of the assets of Jardine Strategic are located
outside the United States. As a result, it may not be possible for
Jardine Strategic Shareholders in the United States to effect
service of process within the United States upon Jardine Strategic
or its respective officers or directors or to enforce against any
of them judgments of the United States courts predicated upon the
civil liability provisions of the federal securities laws of the
United States. It may not be possible to sue Jardine Strategic or
its respective officers or directors in a non-US court for
violations of the US securities laws. There is also substantial
doubt as to enforceability in Bermuda, in original actions or in
actions for enforcement, of the judgments of US courts, based on
the civil liability provisions of US federal securities laws.
Overseas Shareholders
The release, publication or distribution of this announcement in
or into certain jurisdictions other than Bermuda, Singapore or the
United Kingdom may be restricted by law and therefore any persons
who are subject to the laws of any jurisdiction other than Bermuda,
Singapore or the United Kingdom should inform themselves about, and
observe, any applicable requirements.
To the fullest extent permitted by applicable law, the companies
and persons involved in the Acquisition disclaim any responsibility
or liability for the violation of such restrictions by any person.
The information disclosed in this announcement has been prepared
for the purposes of complying with Bermudian, Singaporean and
English law and the information disclosed may not be the same as
that which would have been disclosed if this announcement had been
prepared in accordance with the laws and regulations of
jurisdictions outside of Bermuda, Singapore and England and
Wales.
Copies of this announcement and any formal documentation
relating to the Acquisition shall not be, and must not be, directly
or indirectly, mailed or otherwise forwarded, distributed or sent
in, into or from any jurisdiction where to do so would violate the
laws of that jurisdiction and persons receiving such documents
(including custodians, nominees and trustees) should observe these
restrictions and must not mail or otherwise forward, distribute or
send them in, into or from any jurisdiction where to do so would
violate the laws of that jurisdiction.
Forward-looking Statements
This announcement (including information incorporated by
reference in this announcement), oral statements made by or on
behalf of Jardine Matheson and/or Jardine Strategic regarding the
Acquisition, and other information published by or on behalf of
Jardine Matheson and/or Jardine Strategic or their respective
affiliates may contain statements that are, or may be deemed to be,
"forward-looking statements". These forward-looking statements are
prospective in nature and are not based on historical facts, but
rather on current expectations and on numerous assumptions
regarding the business strategies and the environment in which
Jardine Matheson and/or Jardine Strategic shall operate in the
future and are subject to risks and uncertainties that could cause
actual results to differ materially from those expressed or implied
by those statements.
The forward-looking statements contained in this announcement
relate to Jardine Matheson and/or Jardine Strategic 's future
prospects, developments and business strategies, the expected
timing and scope of the Acquisition and other statements other than
historical facts. These forward-looking statements may be
identified by the use of forward-looking terminology, including the
terms "believes", "estimates", "plans", "projects", "anticipates",
"expects", "intends", "may", "will" or "should" or, in each case,
their negative or other variations or comparable terminology, or by
discussions of strategy, plans, objectives, goals, future events or
intentions.
By their nature, forward-looking statements involve risk and
uncertainty because they relate to events and depend on
circumstances that shall occur in the future. These events and
circumstances include changes in the global, political, economic,
business, competitive, market and regulatory forces, future
exchange and interest rates, changes in tax rates and future
business combinations or disposals. If any one or more of these
risks or uncertainties materialises or if any one or more of the
assumptions prove incorrect, actual results may differ materially
from those expected, estimated or projected. Such forward-looking
statements should therefore be construed in the light of such
factors.
Neither Jardine Matheson or Jardine Strategic, nor any of their
respective associates or directors, officers or advisers, provides
any representation, assurance or guarantee that the occurrence of
the events expressed or implied in any forward-looking statements
in this announcement shall actually occur. Given these risks and
uncertainties, potential investors should not place any reliance on
forward-looking statements.
The forward-looking statements speak only at the date of this
announcement. All subsequent oral or written forward-looking
statements attributable to Jardine Matheson or Jardine Strategic or
any of their respective associates, directors, officers, employees
or advisers, are expressly qualified in their entirety by the
cautionary statement above.
Jardine Matheson, Jardine Strategic, J.P. Morgan Cazenove, Simon
Robertson Associates LLP, HSBC, Evercore and their respective
affiliates expressly disclaim any obligation or undertaking to
release publicly any updates or revisions to any forward-looking
statements contained in this announcement or any other
forward-looking statements they may make whether as a result of new
information, future developments or otherwise.
No profit forecasts or estimates
No statement in this announcement is intended as a profit
forecast or estimate for any period and no statement in this
announcement should be interpreted to mean that earnings or
earnings per share for Jardine Matheson or Jardine Strategic, as
appropriate, for the current or future financial years would
necessarily match or exceed the historical published earnings or
earnings per share for Jardine Matheson or Jardine Strategic, as
appropriate.
8 March 2021
For immediate release
not for release, publication or distribution in whole or in
part, in, into or from any jurisdiction where to do so would
constitute a violation of the relevant laws of such jurisdiction.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.
RECOMMED CASH ACQUISITION
for
Jardine Strategic Holdings Limited ("Jardine Strategic")
by
Jardine Matheson Holdings Limited ("Jardine Matheson")
(to be implemented by way of an amalgamation under the Bermuda
Companies Act)
1. Introduction
The boards of Jardine Matheson and Jardine Strategic are pleased
to announce that Jardine Strategic has agreed to a proposal made by
Jardine Matheson on the terms of a recommended cash acquisition by
Jardine Matheson of the 15 per cent. of Jardine Strategic's issued
share capital which Jardine Matheson or its wholly-owned
subsidiaries do not already own (the "Acquisition").
2. The Acquisition
The Acquisition will be implemented by way of an amalgamation
under the Bermuda Companies Act. Under the Bermuda Companies Act, a
Special General Meeting will be convened to consider and vote on
the Acquisition and all Jardine Strategic Shareholders, including
Jardine Matheson and its subsidiaries, are entitled to vote at that
Special General Meeting. Under the terms of the Acquisition, which
will be subject to the Conditions and further terms set out in
Appendix I to this announcement and to be set out in the Circular,
Jardine Strategic Shareholders shall be entitled to receive:
US$33.00 in cash for each Jardine Strategic Share (the
"Acquisition Price")
The Acquisition Price represents a premium of approximately:
-- 20.2 per cent. to the Closing Price of US$27.45 per Jardine
Strategic Share on 5 March 2021, being the last Business Day prior
to this announcement;
-- 29.0 per cent. to the volume-weighted average Closing Price
of US$25.58 per Jardine Strategic Share over the one-month period
ended 5 March 2021, being the last Business Day prior to this
announcement; and
-- 40.3 per cent. to the volume-weighted average Closing Price
of US$23.53 per Jardine Strategic Share over the six-month period
ended 5 March 2021, being the last Business Day prior to this
announcement.
It is expected that the Acquisition price will be paid by the
end of April 2021.
Under the terms of the Implementation Agreement Jardine
Strategic has undertaken not to declare or pay any dividend prior
to the Acquisition Effective Date.
3. Background to and reasons for the Acquisition
Jardine Matheson has today also announced its plans for the
simplification of the parent company structure of the Group. This
will result in a single holding company with a conventional
ownership structure and a further increase in the Group's
operational efficiency and financial flexibility.
In addition to the acquisition by Jardine Matheson, for cash, of
the 15 per cent. of Jardine Strategic's issued share capital that
Jardine Matheson or its wholly-owned subsidiaries do not already
own, Jardine Matheson also announces its intention to subsequently
cancel Jardine Strategic's 59 per cent. shareholding in Jardine
Matheson.
Following the Acquisition, Jardine Matheson will own 100 per
cent. of Jardine Strategic. Jardine Strategic currently owns 59 per
cent. of Jardine Matheson.
Jardine Matheson intends to implement the cancellation of
Jardine Strategic's 59 per cent. shareholding in Jardine Matheson
following completion of the Acquisition (the "Share Cancellation").
The Share Cancellation will involve a separate legal process in
relation to Jardine Matheson and the wholly-owned subsidiaries
through which Jardine Strategic holds its interest in Jardine
Matheson.
The origins of the current structure, in the form of
cross-holdings in dual holding companies and majority interests in
listed subsidiaries, lie in a series of restructurings in the
1980s. Since the formation of the cross-holding structure, Jardine
Matheson has pursued a long term approach to the creation of
shareholder value and further enhancing the Group's ownership
positions through a series of share purchases and buybacks. This
has been achieved while, at the same time, maintaining Jardine
Matheson's financial strength and funding capacity.
The result is that, from a starting point of largely minority
shareholding positions:
-- Jardine Matheson now owns 84.9 per cent. of Jardine Strategic
while Jardine Strategic owns 59.3 per cent. of Jardine Matheson;
and
-- Jardine Strategic owns 50.4 per cent. of Hongkong Land , 77.6
per cent. of Dairy Farm, 79.5 per cent. of Mandarin Oriental and 75
per cent. of Jardine Cycle & Carriage, the majority owner of
Astra.
Both Jardine Matheson and Jardine Strategic have also developed
other material businesses, both directly and indirectly owned.
Against this background, and with the benefits of attractive
long term growth prospects in the Group's core businesses and
strong financial resources, the board of directors of Jardine
Matheson believes that the simplification of the Group's structure
by way of the Acquisition and subsequent Share Cancellation (the
"Simplification") is the next appropriate step in the evolution of
Jardine Matheson's structure.
The board of directors of Jardine Matheson believes that the
acquisition of the minority shareholdings in Jardine Strategic is
the next appropriate step in the evolution of the Group and is in
the interests of Jardine Strategic Shareholders as it will enable
them to realise all of their investment in Jardine Strategic at an
attractive premium in cash.
The Simplification will also bring significant benefits for
Jardine Matheson shareholders by:
-- streamlining the Group's parent company structure to allow
for a more transparent ownership model;
-- delivering a material enhancement in Jardine Matheson's
earnings per share and supporting Jardine Matheson's
dividend-paying capacity; and
-- increasing the Group's financial and operational flexibility
by removing the cross-holding structure.
4. Jardine Strategic Transaction Committee
The Jardine Strategic Transaction Committee, which has been so
advised by Evercore Partners International LLP ("Evercore") as to
the financial terms of the Acquisition, considers the terms of the
Acquisition to be fair and reasonable insofar as Independent
Jardine Strategic Shareholders are concerned. In providing
financial advice to the Jardine Strategic Transaction Committee,
Evercore has taken into account the commercial assessment of the
Jardine Strategic Transaction Committee. The Jardine Strategic
Transaction Committee is unanimously in favour of the
Acquisition.
5. Jardine Matheson's Undertaking
Under Bermuda law and Jardine Strategic's Bye-laws, the
Acquisition must be approved by a majority of at least 75 per cent.
of the votes cast by Jardine Strategic Shareholders. Jardine
Matheson and its subsidiaries are entitled to vote on the
Amalgamation Resolution and Jardine Matheson has undertaken to
Jardine Strategic that it will vote, and will procure that its
wholly-owned subsidiaries vote, the 940,903,135 Jardine Strategic
Shares (representing 84.89 per cent. of the existing issued share
capital of Jardine Strategic), held by Jardine Matheson and its
wholly-owned subsidiaries in favour of the Amalgamation Resolution
at the Special General Meeting. Hence the requisite Jardine
Strategic Shareholders' approval is certain to be secured.
6. 2020 Preliminary Results Announcement
Jardine Matheson and Jardine Strategic will announce their 2020
Preliminary Results on 11 March 2021. Jardine Strategic's results
are expected to be in line with market expectations, with Jardine
Strategic's full year underlying net profit of US$1,094 million(1)
.
The outlook for 2021 is uncertain, given the continuing impact
of the pandemic. The Group's performance in the first part of the
year is expected to be affected in particular by the continuing
headwinds faced by our businesses in Southeast Asia and the ongoing
low levels of Chinese mainland and other visitors to Hong Kong.
While the full year impact on the Group's performance is unclear,
we remain confident of our long term strategy which is rooted in
the growth markets of Asia.
7. Implementation Agreement
Jardine Matheson and Jardine Strategic have entered into an
Implementation Agreement in relation to the implementation of the
Acquisition and other related matters. The Implementation Agreement
contains certain assurances and confirmations between the parties,
including with respect to the implementation of the Amalgamation
and regarding the conduct of the business of the Jardine Strategic
Group in the period prior to the Acquisition Effective Date. The
Implementation Agreement, together with the Amalgamation Agreement
to be entered into between Jardine Strategic, JMH Investments and
JMH Bermuda, also sets out the terms and conditions and means of
effecting the Amalgamation as required by the Bermuda Companies
Act. Completion of the Amalgamation is subject to satisfaction of
the Conditions to the Acquisition set out in Appendix I. Certain
key provisions of the Implementation Agreement are summarised
below:
Conditionality
The Acquisition will be subject to the Conditions, including the
approval of the Amalgamation Agreement by Jardine Strategic
Shareholders at the Special General Meeting. Jardine Matheson and
Jardine Strategic have agreed that if any of the Conditions set out
in paragraph 1 of Appendix I are not satisfied before the Long-Stop
Effective Date the Acquisition will not proceed. There is no
unilateral right for either Jardine Matheson or Jardine Strategic
to terminate the Implementation Agreement.
Pursuant to the Implementation Agreement, each of Jardine
Matheson and Jardine Strategic has agreed, inter alia, to take or
cause to be taken all such steps as are within its power and
necessary to implement the Acquisition in accordance with, and
subject to the terms and conditions of, the Implementation
Agreement and, so far as is reasonably practicable, in accordance
with an agreed indicative timetable.
Undertaking to vote in favour of Amalgamation Resolution
Jardine Matheson has also undertaken to Jardine Strategic that
it will vote, and will procure that its wholly-owned subsidiaries
vote, the 940,903,135 Jardine Strategic Shares (representing 84.89
per cent. of the existing issued share capital of Jardine
Strategic) held by Jardine Matheson and its wholly-owned
subsidiaries in favour of the Amalgamation Resolution at the
Special General Meeting.
8. Financing
Jardine Matheson intends to finance the Acquisition through an
acquisition financing facility that it has put in place, as well as
existing cash resources and available lines of credit.
9. Description of the Amalgamation
The Acquisition will be effected by means of an amalgamation of
JMH Bermuda (being an indirectly wholly-owned subsidiary of Jardine
Matheson) and Jardine Strategic under the Bermuda Companies
Act.
The Amalgamation will be subject to the Conditions and further
terms referred to in Appendix I of this announcement and to be set
out in the Circular.
In order for the Amalgamation to be implemented, the
Amalgamation Resolution must be passed at the Special General
Meeting. Under Bermuda law and Jardine Strategic's Bye-laws, the
Amalgamation Resolution must be approved by a majority of at least
75 per cent. of the voting rights of Jardine Strategic Shareholders
who are on the register of members of Jardine Strategic at the
Special General Meeting Voting Record Time and who are present and
voting (in person or by proxy) at the Special General Meeting (or
at any adjournment of such meeting). The quorum for the Special
General Meeting is no less than three persons present in person or
by proxy and entitled to vote. Under Bermuda law and Jardine
Strategic's Bye-laws, Jardine Matheson and its subsidiaries can be
counted towards satisfying this quorum requirement and will be
entitled to vote their respective shareholdings in Jardine
Strategic at the Special General Meeting. Jardine Matheson has
undertaken to Jardine Strategic that it will vote, and will procure
that its wholly-owned subsidiaries vote, the 940,903,135 Jardine
Strategic Shares (representing 84.89 per cent. of the existing
issued share capital of Jardine Strategic) held by Jardine Matheson
and its wholly-owned subsidiaries in favour of the Amalgamation
Resolution at the Special General Meeting. The approval of JMH
Investments in its capacity as the sole shareholder of JMH Bermuda,
is also required.
The Amalgamation will only become effective upon submission to
the Registrar of Companies of an application for registration of
the Amalgamated Company and the issue by the Registrar of Companies
of a certificate of amalgamation.
At the Effective Time, by virtue of the Amalgamation (and
without any action on the part of JMH Investments, Jardine
Strategic, JMH Bermuda or any of their respective shareholders or
any other person), each Jardine Strategic Share will be cancelled
and each Independent Jardine Strategic Shareholder will have the
right to receive the cash consideration referred to in paragraph 2
above for each such cancelled Jardine Strategic Share.
At the time and date shown in the certificate of amalgamation
issued by the Registrar of Companies in accordance with the Bermuda
Companies Act, the Amalgamation of Jardine Strategic and JMH
Bermuda and their continuance as the Amalgamated Company will
become effective, the property, rights and assets of each of
Jardine Strategic and JMH Bermuda will become the property, rights
and assets of the Amalgamated Company and the Amalgamated Company
will become liable for the obligations and liabilities of each of
Jardine Strategic and JMH Bermuda. In addition, any existing cause
of action, claim or liability to prosecution will be unaffected by
the Amalgamation; a civil, criminal or administrative action or
proceeding pending by or against Jardine Strategic or JMH Bermuda
may be continued to be prosecuted by or against the Amalgamated
Company; a conviction against, or ruling, order or judgment in
favour of or against, Jardine Strategic or JMH Bermuda may be
enforced by or against the Amalgamated Company; and the certificate
of amalgamation will be deemed to be the certificate of
incorporation of the Amalgamated Company.
The Circular containing a notice convening the Special General
Meeting will be despatched to Jardine Strategic Shareholders as
soon as practicable following this announcement. It is currently
anticipated that the Special General Meeting will be held in early
April 2021 and the Acquisition is expected to become effective
within four Business Days of the Special General Meeting subject to
the satisfaction of the Conditions set out in paragraph 1 of
Appendix I to this announcement. Further details on the
implementation of the Amalgamation will be set out in the
Circular.
Under the terms of the Implementation Agreement neither Jardine
Matheson nor Jardine Strategic has the unilateral right to
terminate the Acquisition.
Given Jardine Matheson's 85 per cent. shareholding in Jardine
Strategic, Jardine Matheson and Jardine Strategic do not anticipate
any regulatory clearances will be required to be obtained in order
to effect the Acquisition.
As Jardine Strategic is incorporated and has its registered
office in Bermuda, the UK Takeover Code does not apply to the
Acquisition.
Part II of The Jardine Strategic Holdings Limited Consolidation
and Amendment Act 1998 and The Jardine Strategic Holdings Limited
Regulations 1993, which include provisions relating to takeover
offers, do not apply to the Acquisition as it is being effected by
means of an amalgamation under the Bermuda Companies Act.
As a company with a secondary listing on the Singapore Exchange,
Jardine Strategic is not subject to the Singapore Code on Takeovers
& Mergers, or the listing rules of the Singapore Exchange that
apply to a company with a primary listing on the Singapore
Exchange.
10. Disclosure of Interests
Jardine Matheson is interested indirectly in 940,903,135 Jardine
Strategic Shares (carrying 84.89 per cent. of the voting rights
attaching to Jardine Strategic's issued ordinary share capital).
Jardine Strategic is interested, directly and indirectly, in
426,938,290 shares in Jardine Matheson (carrying 59.31 per cent. of
the voting rights attaching to Jardine Matheson's issued ordinary
share capital).
11. Delisting
Prior to the Amalgamation becoming effective, a request will be
made by Jardine Strategic to: (i) the FCA to cancel the listing of
the Jardine Strategic Shares on the Official List; (ii) the London
Stock Exchange to cancel the admission to trading of the Jardine
Strategic Shares on the London Stock Exchange's Main Market for
listed securities; (iii) the Singapore Exchange to cancel the
listing of the Jardine Strategic Shares on the SGX Mainboard; and
(iv) the Bermuda Stock Exchange to cancel the listing of the
Jardine Strategic Shares on the Bermuda Stock Exchange, so that the
Jardine Strategic Shares will cease to be listed with effect from
the Effective Time. In addition, with effect from the Effective
Time, entitlements to Jardine Strategic Shares held within the
CREST system and the CDP system will be cancelled.
12. General
The Acquisition shall be made subject to the Conditions and
further terms set out in Appendix I to this announcement and to be
set out in the Circular. The bases and sources of certain financial
information contained in this announcement are set out in Appendix
II to this announcement. Certain terms used in this announcement
are defined in Appendix III to this announcement.
The Circular will be despatched to Jardine Strategic
Shareholders as soon as practicable after this announcement and
will include the terms and conditions of the Acquisition, together
with notice of the Special General Meeting and the expected
timetable for the implementation of the Acquisition. In deciding
whether or not to vote to approve the Acquisition, Jardine
Strategic Shareholders should rely on the information contained in,
and follow the procedures described in, the Circular and the forms
of proxy and direction accompanying the Circular.
A recording of a presentation to analysts (to be made at 7.45
a.m. (Hong Kong time) on Monday, 8 March 2021) will be available on
the Group website at https://www.jardines.com/en/ir/ir.html from
9:30 a.m. (Hong Kong time) on Monday, 8 March 2021.
Enquiries:
For further information, please
contact:
Brunswick
+44 (0) 20 7404
Tom Burns 5959
Tim Payne +852 3512 5000
Advisors
J.P. Morgan Securities plc, which conducts its UK investment
banking business as J.P. Morgan Cazenove ("J.P. Morgan Cazenove"),
and Simon Robertson Associates LLP are acting as lead financial
advisors, and The Hongkong and Shanghai Banking Corporation Limited
("HSBC") is acting as financial advisor, to Jardine Matheson in
connection with the Acquisition. Linklaters LLP is acting as legal
advisor to Jardine Matheson in connection with the Acquisition.
Evercore Partners International LLP ("Evercore") is acting as
financial advisor to the Jardine Strategic Transaction Committee in
connection with the Acquisition. Slaughter and May is acting as
legal advisor to the Jardine Strategic Transaction Committee in
connection with the Acquisition.
Important Notices
J.P. Morgan Cazenove, which is authorised in the United Kingdom
by the PRA and regulated by the PRA and the Financial Conduct
Authority, is acting as financial adviser exclusively for Jardine
Matheson and no one else in connection with the Acquisition and
will not regard any other person as its client in relation to the
Acquisition and will not be responsible to anyone other than
Jardine Matheson for providing the protections afforded to clients
of J.P. Morgan Cazenove or its affiliates, nor for providing advice
in relation to the Acquisition or any other matter or arrangement
referred to herein.
Simon Robertson Associates LLP, which is regulated in the UK by
the Financial Conduct Authority, is acting as financial adviser
exclusively for Jardine Matheson and no one else in connection with
the Acquisition and will not regard any other person as its client
in relation to the Acquisition and will not be responsible to
anyone other than Jardine Matheson for providing the protections
afforded to clients of Simon Robertson Associates LLP or its
affiliates nor for providing advice in relation to the Acquisition
or any other matter or arrangement referred to herein.
HSBC, being a financial adviser to Jardine Matheson in relation
to the Acquisition, is a registered institution under the
Securities and Futures Ordinance (Chapter 571 of the Laws of Hong
Kong) ("SFO"), registered to carry on Type 1 (dealing in
securities), Type 2 (dealing in futures contracts), Type 4
(advising on securities), Type 5 (advising on futures contracts),
Type 6 (advising on corporate finance) and Type 9 (asset
management) regulated activities under the SFO and a licensed bank
under the Banking Ordinance (Chapter 155 of the Laws of Hong
Kong).
Evercore is regulated in the UK by the Financial Conduct
Authority is acting exclusively for the Jardine Strategic
Transaction Committee and no one else in connection with the
Acquisition and shall not be responsible to anyone other than the
Jardine Strategic Transaction Committee for providing the
protections afforded to clients of Evercore nor for providing
advice in connection with the Acquisition or any matter referred to
herein. Neither Evercore nor any of its subsidiaries, branches or
affiliates owes or accepts any duty, liability or responsibility
whatsoever (whether direct or indirect, whether in contract, tort,
under statute or otherwise) to any person who is not a client of
Evercore in connection with the Acquisition or any statement
contained herein or otherwise.
This announcement is for information purposes only and is not
intended to and does not constitute, or form part of, an offer,
invitation or the solicitation of an offer to purchase, otherwise
acquire, subscribe for, sell or otherwise dispose of any securities
or the solicitation of any vote or approval in any jurisdiction in
contravention of applicable law. This announcement does not
constitute a prospectus or prospectus exempted document.
The Circular will contain the full terms and conditions of the
Acquisition, including details of how to vote in respect of the
Amalgamation. Any decision in respect of, or other response to, the
Acquisition should be made only on the basis of the information in
the Circular. Jardine Strategic Shareholders are advised to read
the formal documentation in relation to the Acquisition carefully,
once it has been dispatched.
If the Amalgamation becomes effective, all Jardine Strategic
Shares will be cancelled pursuant to the Amalgamation and each
Independent Jardine Strategic Shareholder will receive payment of
the Acquisition Price.
Notice to United States Holders of Jardine Strategic Shares
The Acquisition relates to the shares of a Bermudian company and
is being made by means of an amalgamation provided for under
Bermudian company law. A transaction effected by means of an
amalgamation is not subject to the tender offer rules or the proxy
solicitation rules under the US Securities Exchange Act of 1934.
Accordingly, the Acquisition is subject to the disclosure
requirements and practices applicable in Bermuda to amalgamations,
which differ from the disclosure requirements of United States
tender offer and proxy solicitation rules. The financial
information included or incorporated by reference in this document
has been prepared in accordance with International Financial
Reporting Standards (as adopted by the European Union) and thus may
not be comparable to financial information of US companies or
companies whose financial statements are prepared in accordance
with generally accepted accounting principles in the United
States.
Jardine Strategic is a company incorporated under the laws of
Bermuda. A majority of the assets of Jardine Strategic are located
outside the United States. As a result, it may not be possible for
Jardine Strategic Shareholders in the United States to effect
service of process within the United States upon Jardine Strategic
or its respective officers or directors or to enforce against any
of them judgments of the United States courts predicated upon the
civil liability provisions of the federal securities laws of the
United States. It may not be possible to sue Jardine Strategic or
its respective officers or directors in a non-US court for
violations of the US securities laws. There is also substantial
doubt as to enforceability in Bermuda, in original actions or in
actions for enforcement, of the judgments of US courts, based on
the civil liability provisions of US federal securities laws.
Overseas Shareholders
The release, publication or distribution of this announcement in
or into certain jurisdictions other than Bermuda, Singapore or the
United Kingdom may be restricted by law and therefore any persons
who are subject to the laws of any jurisdiction other than Bermuda,
Singapore or the United Kingdom should inform themselves about, and
observe, any applicable requirements.
To the fullest extent permitted by applicable law, the companies
and persons involved in the Acquisition disclaim any responsibility
or liability for the violation of such restrictions by any person.
The information disclosed in this announcement has been prepared
for the purposes of complying with Bermudian, Singaporean and
English law and the information disclosed may not be the same as
that which would have been disclosed if this announcement had been
prepared in accordance with the laws and regulations of
jurisdictions outside of Bermuda, Singapore and England and
Wales.
Copies of this announcement and any formal documentation
relating to the Acquisition shall not be, and must not be, directly
or indirectly, mailed or otherwise forwarded, distributed or sent
in, into or from any jurisdiction where to do so would violate the
laws of that jurisdiction and persons receiving such documents
(including custodians, nominees and trustees) should observe these
restrictions and must not mail or otherwise forward, distribute or
send them in, into or from any jurisdiction where to do so would
violate the laws of that jurisdiction.
Forward-looking Statements
This announcement (including information incorporated by
reference in this announcement), oral statements made by or on
behalf of Jardine Matheson and/or Jardine Strategic regarding the
Acquisition, and other information published by or on behalf of
Jardine Matheson and/or Jardine Strategic or their respective
affiliates may contain statements that are, or may be deemed to be,
"forward-looking statements". These forward-looking statements are
prospective in nature and are not based on historical facts, but
rather on current expectations and on numerous assumptions
regarding the business strategies and the environment in which
Jardine Matheson and/or Jardine Strategic shall operate in the
future and are subject to risks and uncertainties that could cause
actual results to differ materially from those expressed or implied
by those statements.
The forward-looking statements contained in this announcement
relate to Jardine Matheson and/or Jardine Strategic's future
prospects, developments and business strategies, the expected
timing and scope of the Acquisition and other statements other than
historical facts. These forward-looking statements may be
identified by the use of forward-looking terminology, including the
terms "believes", "estimates", "plans", "projects", "anticipates",
"expects", "intends", "may", "will" or "should" or, in each case,
their negative or other variations or comparable terminology, or by
discussions of strategy, plans, objectives, goals, future events or
intentions.
By their nature, forward-looking statements involve risk and
uncertainty because they relate to events and depend on
circumstances that shall occur in the future. These events and
circumstances include changes in the global, political, economic,
business, competitive, market and regulatory forces, future
exchange and interest rates, changes in tax rates and future
business combinations or disposals. If any one or more of these
risks or uncertainties materialises or if any one or more of the
assumptions prove incorrect, actual results may differ materially
from those expected, estimated or projected. Such forward-looking
statements should therefore be construed in the light of such
factors.
Neither Jardine Matheson or Jardine Strategic, nor any of their
respective associates or directors, officers or advisers, provides
any representation, assurance or guarantee that the occurrence of
the events expressed or implied in any forward-looking statements
in this announcement shall actually occur. Given these risks and
uncertainties, potential investors should not place any reliance on
forward-looking statements.
The forward-looking statements speak only at the date of this
announcement. All subsequent oral or written forward-looking
statements attributable to Jardine Matheson or Jardine Strategic or
any of their respective associates, directors, officers, employees
or advisers, are expressly qualified in their entirety by the
cautionary statement above.
Jardine Matheson, Jardine Strategic, J.P. Morgan Cazenove, Simon
Robertson Associates LLP, HSBC, Evercore and their respective
affiliates expressly disclaim any obligation or undertaking to
release publicly any updates or revisions to any forward-looking
statements contained in this announcement or any other
forward-looking statements they may make whether as a result of new
information, future developments or otherwise.
No profit forecasts or estimates
No statement in this announcement is intended as a profit
forecast or estimate for any period and no statement in this
announcement should be interpreted to mean that earnings or
earnings per share for Jardine Matheson or Jardine Strategic, as
appropriate, for the current or future financial years would
necessarily match or exceed the historical published earnings or
earnings per share for Jardine Matheson or Jardine Strategic, as
appropriate.
APPIX I
CONDITIONS AND certain FURTHER TERMS OF THE Acquisition
1. Conditions of the Acquisition
(a) The Acquisition is subject to the following conditions being
satisfied by no later than the Long Stop Effective Date:
(i) the approval of the Amalgamation Resolution by a majority
vote of at least 75 per cent. of the votes cast by Jardine
Strategic Shareholders present and voting, either in person or by
proxy, at the Special General Meeting (or at any adjournment of
such meeting);
(ii) all material consents, approvals and authorisations (if
any) required from, and all material filings and registrations (if
any) required to be made to, any Regulatory Authority in each case
which is required for the Amalgamation to become effective having
been obtained or made (as the case may be);
(iii) no binding judgment or order having been given, made,
issued or enforced by any Regulatory Authority which prohibits or
prevents the Amalgamation from becoming effective;
(iv) the issue by the Registrar of Companies of a certificate of
amalgamation pursuant to the Bermuda Companies Act in respect of
the Amalgamation; and
(v) the Implementation Agreement otherwise having become
unconditional and not having been terminated.
2. Certain Further Terms of the Acquisition
(a) The availability of the Acquisition to persons not resident
in the United Kingdom, Singapore or Bermuda may be affected by the
laws of the relevant jurisdictions. Persons who are not resident in
the United Kingdom, Singapore or Bermuda should inform themselves
about and observe any applicable requirements.
(b) The Acquisition will be governed by Bermudian law and be
subject to the jurisdiction of the Courts of Bermuda and to the
Conditions set out in this announcement and in the Circular. The
Acquisition will comply with the applicable rules and regulations
of the London Stock Exchange, the FCA, the Bermuda Stock Exchange
and the Singapore Exchange.
APPIX II
SOURCES OF INFORMATION AND BASES OF CALCULATION
(a) As at the close of business on 5 March 2021 (being the last
Business Day prior to publication of this announcement), there were
1,108,408,430 Jardine Strategic Shares in issue. The International
Securities Identification Number for Jardine Strategic Shares is
BMG507641022.
(b) As at the close of business on 5 March 2021 (being the last
Business Day prior to publication of this announcement), there were
719,848,166 Jardine Matheson Shares in issue. The International
Securities Identification Number for Jardine Matheson Shares is
BMG507361001.
(c) Unless stated otherwise, any references to the issued and to
be issued share capital of Jardine Strategic are based on the
1,108,408,430 Jardine Strategic Shares referred to in paragraph (a)
above.
(d) Unless stated otherwise, any references to the issued and to
be issued share capital of Jardine Matheson are based on the
719,848,166 Jardine Matheson Shares referred to in paragraph (b)
above.
(e) The value of the Acquisition based on the Acquisition Price
of US$33.00 per Jardine Strategic Share is calculated on the basis
of a total number of Jardine Strategic Shares in issue of
1,108,408,430 less the 940,903,135 owned by Jardine Matheson and
its wholly-owned subsidiaries.
(f) References to Closing Prices are to the closing middle
market price of a Jardine Strategic Share on a particular trading
day on the Singapore Exchange.
(g) Unless otherwise stated, the financial information relating
to Jardine Strategic is extracted from the unaudited consolidated
financial statements of Jardine Strategic for the year ended 31
December 2020, prepared in accordance with IFRS.
(h) Unless otherwise stated, the financial information relating
to Jardine Matheson is extracted from the unaudited consolidated
financial statements of Jardine Matheson for the year ended 31
December 2020, prepared in accordance with IFRS.
(i) All financial information contained in this announcement for
Jardine Matheson and Jardine Strategic in respect of the year ended
31 December 2020 is unaudited.
(j) Certain figures included in this announcement have been
subjected to rounding adjustments. Accordingly, figures shown for
the same category may vary slightly and figures shown as totals may
not be an arithmetic aggregation of the figures that precede
them.
APPIX III
DEFINITIONS
The following definitions apply throughout this announcement
unless the context requires otherwise.
"Acquisition" means the recommended acquisition
by Jardine Matheson of the 15 per
cent. of Jardine Strategic's issued
share capital which Jardine Matheson
or its wholly-owned subsidiaries do
not already own at the Acquisition
Price to be effected in accordance
with the Implementation Agreement
and the Amalgamation Agreement and
the Bermuda Companies Act by means
of the Amalgamation and shall, where
the context so requires, include any
subsequent revision, variation, extension
or renewal thereof;
"Acquisition Effective means that date upon which the Amalgamation
Date" becomes effective in accordance with
its terms;
"Acquisition Price" means US$33.00 for each Jardine Strategic
Share;
"Act" or "Companies Act" the Companies Act 2006, as amended;
"Amalgamated Company" means the company which will continue
as a Bermuda exempted company with
the name Jardine Strategic Limited
following the Amalgamation;
"Amalgamation" means the proposed amalgamation of
Jardine Strategic and JMH Bermuda
to effect the Acquisition, on the
terms and conditions of the Implementation
Agreement and the Amalgamation Agreement
and in accordance with the Bermuda
Companies Act;
"Amalgamation Agreement" means the agreement to be entered
into between Jardine Strategic, JMH
Investments and JMH Bermuda effecting
the amalgamation of Jardine Strategic
and JMH Bermuda under the Bermuda
Companies Act;
"Amalgamation Resolution means the special resolution of Jardine
" Strategic Shareholders to be proposed
at the Special General Meeting;
"Bermuda Companies Act" means the Companies Act 1981 of Bermuda
(as amended from time to time);
"Business Day" means a day (other than a Saturday
or Sunday) on which banks in Bermuda,
Singapore or the City of London are
generally open for business;
"Circular" means the document to be sent to Jardine
Strategic Shareholders setting out,
among other things, the terms and
conditions of the Acquisition and
containing the notice convening the
Special General Meeting;
"Closing Price" means the closing middle market price
of a Jardine Strategic Share on a
particular trading day on the Singapore
Exchange;
"Conditions" means the conditions of the Acquisition,
set out in paragraph 1 of Appendix
I to this announcement and to be set
out in the Circular, and Condition
means any one of them;
"Effective Time" means the time on the Acquisition
Effective Date at which the Amalgamation
shall become effective pursuant to
the Bermuda Companies Act;
"Group" means the group comprising of Jardine
Matheson and its subsidiaries;
"FCA" or "Financial Conduct means the Financial Conduct Authority
Authority" acting in its capacity as the competent
authority for the purposes of Part
VI of the UK Financial Services and
Markets Act 2000;
"IFRS" means International Financial Reporting
Standards;
"Independent Jardine Strategic means Jardine Strategic Shareholders
Shareholders" (other than Jardine Matheson and its
wholly-owned subsidiaries);
"Implementation Agreement" means the agreement between Jardine
Matheson and Jardine Strategic entered
into on or about the date of this
announcement in relation to the implementation
of the Acquisition;
"Jardine Matheson" means Jardine Matheson Holdings Limited;
"Jardine Matheson Shares" means the ordinary shares of US$0.25
each in the capital of Jardine Matheson;
"Jardine Strategic" means Jardine Strategic Holdings Limited;
"Jardine Strategic's Bye-laws" means the bye-laws of Jardine Strategic
(as amended from time to time);
"Jardine Strategic Directors" means the directors of Jardine Strategic
at the time of this announcement or,
where the context so requires, the
directors of Jardine Strategic from
time to time;
"Jardine Strategic Group" means Jardine Strategic and each (directly
or indirectly) wholly-owned subsidiary
of Jardine Strategic that is: (i)
not listed on a recognised stock exchange;
and (ii) not a subsidiary of an entity
listed on a recognised stock exchange
(other than Jardine Strategic);
"Jardine Strategic Shareholders" means the holders of Jardine Strategic
or "Shareholders" Shares;
"Jardine Strategic Shares" means the ordinary shares of US$0.05
each in the capital of Jardine Strategic;
"Jardine Strategic Transaction means the committee of directors of
Committee" Jardine Strategic established in connection
with the Acquisition, comprising of
those Jardine Strategic Directors
who are not also directors of Jardine
Matheson, appointed by the board of
Jardine Strategic to delegate the
responsibility for considering the
Acquisition;
"JMH Bermuda" means JMH Bermuda Limited;
"JMH Investments" means JMH Investments Limited;
"Long Stop Effective Date" means 5.00 p.m. on 8 June 2021 or
such later date as Jardine Strategic
and Jardine Matheson agree in writing;
"Official List" means the Official List maintained
by the FCA;
"Registrar of Companies" means the Registrar of Companies in
Bermuda;
"Regulatory Authority" means any of the following having
power and jurisdiction over any party
to the Implementation Agreement, the
Amalgamation Agreement and/or the
Amalgamated Company: any court, any
supranational, statutory, governmental
or regulatory body and any stock exchange;
and
"United Kingdom" or "UK" means the United Kingdom of Great
Britain and Northern Ireland.
For the purposes of this announcement, "subsidiary" has the
meaning given thereto by the Bermuda Companies Act.
All references to "US$", "$" and "US Dollars" are to the lawful
currency of the United States.
All the times referred to in this announcement are Bermuda times
unless otherwise stated.
References to the singular include the plural and vice
versa.
__________________________
1 All financial information contained in this announcement for
Jardine Matheson and Jardine Strategic in respect of the year ended
31 December 2020 is unaudited.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
ACQGGGDXLGGDGBI
(END) Dow Jones Newswires
March 08, 2021 02:00 ET (07:00 GMT)
Jardine Strategic Holdin... (LSE:JDSB)
Historical Stock Chart
From Dec 2024 to Jan 2025
Jardine Strategic Holdin... (LSE:JDSB)
Historical Stock Chart
From Jan 2024 to Jan 2025
