Offer Update
07 November 2000 - 11:33PM
UK Regulatory
RNS Number:7045T
Matthews(Bernard) PLC
7 November 2000
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES,
CANADA, JAPAN OR AUSTRALIA
Bernard Matthews Holdings Limited ("BMH")
Recommended Cash Offer for Bernard Matthews PLC
The board of BMH notes the announcement made earlier today by Sara Lee
Corporation that it no longer has any interest in making an offer for Bernard
Matthews PLC.
The Matthews Family and the Management Team reaffirm their commitment to the
BMH Offer which is the only Offer that has been made for Bernard Matthews PLC
and which has the recommendation of the Independent Directors.
To accept the Offer, Forms of Acceptance must be completed and returned as
soon as possible and, in any event, so as to be received by no later than
3.00 p.m. on 22 November 2000.
The board of BMH is continuing to investigate the feasibility of a partial
share alternative to the cash consideration available under the Offer and,
whilst no commitment can be given at this time, further information will be
sent to Bernard Matthews Shareholders in due course.
Comments
Bernard Matthews, Chairman of BMH, commented:
"The BMH Offer represents a 57 per cent. premium to the market price of a
Bernard Matthews Share before it was announced that we were considering an
offer. Acceptances should be received by 22 November 2000."
Enquiries:
Bernard Matthews Holdings Limited 01603 872 611
B T Matthews
David Joll
HSBC 020 7336 9000
Jeremy Prescott
Rupert Faure Walker
Citigate Dewe Rogerson 020 7638 9571
David Nolder
Simon Rigby
The directors of Bernard Matthews Holdings Limited accept responsibility for
the information in this announcement. To the best of the knowledge and
belief of the directors of Bernard Matthews Holdings Limited (who have 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. This
announcement has been approved for the purposes of section 57 of the
Financial Services Act 1986 by HSBC.
HSBC, which is regulated in the United Kingdom by The Securities and Futures
Authority Limited, is acting exclusively for BMH and no one else in relation
to the Offer and will not be responsible to anyone other than BMH for
providing the protections afforded to customers of HSBC, or for providing
advice in relation to the Offer.
This announcement is not being, and must not be, issued, mailed or otherwise
distributed to or sent in, into or from the United States, Canada, Australia
or Japan and persons receiving this announcement (including custodians,
nominees and trustees) must not distribute or send it in, into or from the
United States, Canada, Australia or Japan.
Save for the information herein, as at 6 November 2000 (the latest
practicable date prior to the printing of this document) there has been no
material change to the information contained in the Offer Document.
Terms defined in the offer document dated and dispatched on 1 November 2000
have the same meanings in this announcement.
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