Brent International - Offer Wholly Unconditnl, etc.
September 01 1999 - 12:32PM
UK Regulatory
RNS No 8178d
BRENT INTERNATIONAL PLC
1 September 1999
Not for release, publication or distribution in or into
the United States or Canada
Chemetall GmbH
Recommended Cash Offer for Brent International PLC by
Warburg Dillon Read on behalf of Chemetall GmbH
Offer wholly unconditional
Chemetall GmbH ("Chemetall"), a wholly-owned subsidiary of
Dynamit Nobel AG, announces that the conditions set out in
Part A of Appendix 1 of the offer document dated 21 July
1999 have now been satisfied or waived and that, as a
result, the Offer by Warburg Dillon Read on behalf of
Chemetall for Brent International PLC ("Brent") has become
wholly unconditional.
The Offer will remain open for acceptance until further
notice. Fourteen days' notice will be given prior to the
closing of the Offer. Chemetall intends to procure that
Brent applies for the cancellation of the listing of Brent
Ordinary Shares on the London Stock Exchange.
By 3.00 p.m. on 1 September 1999, valid acceptances of the
Offer had been received in respect of 63,536,989 Brent
Ordinary Shares, representing approximately 93.71 per
cent. of the issued ordinary share capital of Brent. This
includes 22,539,705 shares, equivalent to approximately
33.3 per cent. of the issued ordinary share capital of
Brent, in respect of which Chemetall had received
irrevocable undertakings to accept the Offer.
The Offer will remain open for acceptance until further
notice. Brent Ordinary Shareholders who have already
completed and returned valid acceptances of the Offer will
receive their consideration in cash in pounds sterling
within fourteen days. Shareholders who validly complete
and return their Forms of Acceptance from now on will
receive their consideration in cash within fourteen days
of receipt thereof. Chemetall intends to apply the
statutory provisions to acquire compulsorily the remaining
Brent Ordinary Shares in due course.
Save as disclosed above, neither Chemetall nor any persons
deemed to be acting in concert with Chemetall held any
Brent Ordinary Shares, or any rights over such shares,
immediately prior to, or have acquired any such shares or
rights over shares since the commencement of, the Offer
Period.
Terms defined in the offer document dated 21 July 1999
have the same meanings when used herein unless the context
requires otherwise.
Enquiries:
Chemetall
Ernst-Joachim Molter Tel: +49 69 71650
Warburg Dillon Read
Simon Raynor Tel: +44 171 567 8000
Clive Beattie
Warburg Dillon Read, the investment banking division of
UBS AG, is acting for Dynamit Nobel AG and Chemetall GmbH
and for no one else in connection with the Offer and will
not be responsible to anyone other than Dynamit Nobel AG
and Chemetall GmbH for providing the protections afforded
to customers of Warburg Dillon Read nor for providing
advice in relation to the Offer.
END
OFFUBUQGBBGBGMG
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