St.James BeachHotels - Offer Acceptances,Extension
12 Septembre 1997 - 9:35AM
UK Regulatory
RNS No 8046a
ST JAMES BEACH HOTELS PLC
12th September 1997
Not for release, publication or distribution in or into
the United States, Canada, Australia or Japan.
Elegant Hotels Limited
Recommended offer for St. James Beach Hotels PLC
Acceptances - Offer extended
Elegant announces that, at 3.00 pm on 11 September 1997,
the first closing date of the offer for St. James Beach,
valid acceptances of the Offer had been received in
respect of a total of 22,411,006 St. James Beach Shares,
representing approximately 94.84 per cent. of St. James
Beach's issued ordinary share capital. The Offer was
declared unconditional in all respects on 22 August 1997.
Prior to the commencement of the offer period on 13
August 1997, Elegant received irrevocable undertakings
from West Indies Builders (C.I.) Limited ("WIB") and one
of the directors of St. James Beach to accept the Offer
in respect of 14,001,864 St. James Beach Shares,
representing approximately 59.25 per cent. of St. James
Beach's issued ordinary share capital.
Save as referred to above, neither Elegant nor any person
acting in concert with Elegant held before the offer
period, or during the offer period has acquired or agreed
to acquire, any St. James Beach Shares (or rights over
such shares) and no acceptances of the Offer have been
received from any person acting in concert with Elegant.
Valid acceptances have been received in respect of all
the St. James Beach Shares subject to the undertakings
referred to above and are included in the above total.
Elegant announces that the Offer has been extended and
will remain open until further notice.
Terms defined in the Offer Document, dated 21 August
1997, have the same meaning in this press release unless
the context otherwise requires.
Close Brothers Corporate Finance Limited, which is
regulated by The Securities and Futures Authority
Limited, is acting for Elegant and no one else in
connection with the Offer and will not be responsible to
anyone other than Elegant for providing the protections
afforded to its customers nor for providing advice in
relation to the Offer.
Enquiries:
David Pusinelli 0171 426-4000
Close Brothers Corporate Finance Limited
END
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