Selecta Group Acceptances

Compass Group PLC 25 April 2001 25 April 2001 COMPASS GROUP PLC HOLDS OR HAS RECEIVED VALID ACCEPTANCES IN RESPECT OF 92.8% OF SELECTA GROUP SHARES Offer period extended until clearance from the European competition authority On 26 March 2001, Compass Group PLC ('Compass Group') published a public purchase offer (the 'Offer') for all publicly held outstanding registered shares in Selecta Group ('Selecta'). Compass Group offered CHF 540.- net per registered share of Selecta with a nominal value of CHF 50.- each, less the gross amount of any dividend or other payments that Selecta might distribute to its shareholders until completion of the Offer. Compass Group announced yesterday an extension of the Offer period until 9 May 2001, 4 p.m. Central European Time (CET), being the day following the expiry of the time limit for the European competition authority to announce its decision as to whether it will clear the proposed combination. By expiry of the initial Offer period on 24 April 2001, Compass Group had received valid acceptances with regard to 1,487,154 Selecta shares representing 89.3 per cent. of the shares to which the Offer extends. Taking into account the 832,000 Selecta shares which Compass Group held prior to the publication of the Offer, Compass Group now holds, or has received valid acceptances in respect of, Selecta shares representing approximately 92.8 per cent. of the outstanding Selecta shares. Consequently, condition (a) (Compass Group holding or having received valid acceptances in respect of more than 67 per cent. of the total number of outstanding Selecta shares)(as set out in section A.6. of the Offer prospectus) to which the Offer is subject is fulfilled. Compass Group will declare following Selecta's general shareholders' meeting of 30 April 2001 whether conditions (b) (amendment of Selecta's articles of incorporation to permit Compass Group to be entered into the share register of Selecta as a shareholder with voting rights in respect of the total number of shares it owns in Selecta) and (c) (renewal of the board of directors of Selecta) (both as set out in section A.6 of the Offer prospectus) to which the Offer is subject have been fulfilled. If conditions (b) and (c) are both fulfilled, the only outstanding condition remaining for the Offer to be declared wholly unconditional will be clearance by the European competition authority. Schroder Salomon Smith Barney is acting as financial adviser to Compass Group. UBS Warburg is acting as financial adviser to Compass Group in respect of the Offer. Compass Group has also commissioned UBS AG for the technical handling of the Offer. For further information please contact: Andrew Lynch, Group Finance Director, Compass Group Ron Morley, Company Secretary, Compass Group Nick Lyon, Hudson Sandler This announcement is issued by and is the responsibility of Compass Group the contents having been approved solely for the purposes of section 57 of the Financial Services Act 1986 by Salomon Brothers International Limited (trading as Schroder Salomon Smith Barney). The extended Offer is not being made directly or indirectly in or by the use of the mails of, or by any means or instrumentality of interstate or foreign commerce of, or any facilities of a national exchange of the United States of America, or in any country or jurisdiction where such Offer would be considered unlawful or in which it would otherwise breach any applicable law or regulation or which would require Compass Group to amend any term or condition of the extended Offer in any way or which would require Compass Group to make any additional filing with, or take any additional action with regards to, any governmental, regulatory or legal authority. Offering materials relating to the Offer may not be distributed in nor sent to such country or jurisdiction and may not be used for the purposes of soliciting the purchases of any securities of Selecta from anyone in such country or jurisdiction.
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