Provend Group PLC - Offer Wholly Unconditnl, etc
30 Mars 1999 - 9:30AM
UK Regulatory
RNS No 9149r
PROVEND GROUP PLC
30th March 1999
NOT FOR PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES, CANADA,
AUSTRALIA OR JAPAN
RECOMMENDED CASH OFFER
BY BUNZL PLC ("BUNZL")
FOR PROVEND GROUP PLC ("PROVEND")
OFFER UNCONDITIONAL IN ALL RESPECTS
Bunzl announces that all conditions of its Offer for Provend have now been
satisfied or waived and the Offer has been declared unconditional in all
respects. The Offer will remain open for acceptance until further notice.
As at 3.00 p.m. on 29 March 1999, valid acceptances of the Offer had been
received in respect of 14,928,261 Provend Shares, representing approximately
86.4 per cent. of the issued share capital of Provend. Of these, elections
under the Loan Note Alternative have been received in respect of 1,004,947
Provend Shares, representing approximately 5.8 per cent. of the issued share
capital of Provend. Accordingly Loan Notes will be issued to accepting
Provend Shareholders who have validly elected for the Loan Note Alternative.
Provend Shareholders who wish to accept the Offer but have not yet returned
their Forms of Acceptance should do so as soon as possible.
Prior to making the Offer, Bunzl had received irrevocable undertakings to
accept the Offer from the directors of Provend and certain Provend
Shareholders in respect of 10,698,779 Provend Shares, representing
approximately 61.9 per cent. of the issued share capital of Provend. Save as
disclosed above, neither Bunzl nor any person acting in concert with it held
any Provend Shares (or rights over Provend Shares) prior to the commencement
of the Offer Period, nor has any such person acquired or agreed to acquire any
Provend Shares (or rights over Provend Shares) since that time.
The Offer has not been made, directly or indirectly, in or into, or by use of
the mails of, or by any means or instrumentality (including, without
limitation, electronic mail, facsimile transmission, telex or telephone) of
interstate or foreign commerce of, or any facilities of a national securities
exchange of, the United States of America, nor has it been made in or into
Canada, Japan or Australia and the Offer is not capable of acceptance by any
such use, means, instrumentality or facility or from within the United States
of America, Canada, Japan or Australia.
Terms defined in the offer document dated 8 March 1999 have the same meaning
in this press announcement.
For further information contact:
Bunzl
Anthony Habgood 0171 495 4950
David Williams 0171 495 4950
This announcement, which is the sole responsibility of Bunzl, has been
approved by KPMG Corporate Finance solely for the purposes of Section 57 of
the Financial Services Act 1986.
KPMG Corporate Finance, a division of KPMG which is authorised to carry on
investment business by the Institute of Chartered Accountants in England and
Wales, is acting for Bunzl and no one else in connection with the Offer and
will not be responsible to anyone other than Bunzl for providing the
protections afforded to customers of KPMG Corporate Finance nor for giving
advice in relation to the Offer.
END
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