Macfarlane Group PLC
18 December 2000
PRESS ANNOUNCEMENT
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE
UNITED STATES,
CANADA, AUSTRALIA, THE REPUBLIC OF IRELAND OR JAPAN
MACFARLANE GROUP INCREASED FINAL* CASH OFFER FOR BRITISH
POLYTHENE INDUSTRIES PLC
ANNOUNCEMENT OF ACCEPTANCE LEVELS AND LAPSE OF OFFER
Macfarlane announces that as at 1.00 p.m. on 16 December 2000
(being the final closing date of the Increased Final Offer)
valid acceptances of the Increased Final Offer had been
received in respect of a total of 8,097,503 BPI shares,
representing approximately 21.9 per cent. of the issued share
capital of BPI.
Together with the 4,872,398 BPI shares owned by Macfarlane
(approximately 13.2 per cent. of the issued share capital of
BPI) of which 325,000 BPI shares were held by Macfarlane
before the start of the offer period (approximately 0.88 per
cent. of the issued share capital of BPI), Macfarlane now owns
or has secured acceptances over 12,969,901 BPI shares
representing approximately 35.1 per cent. of the issued share
capital of BPI.
Accordingly, the Increased Final Offer for BPI has lapsed and
is no longer open for acceptance. Documents of title
accompanying acceptances of the Increased Final Offer will now
be returned as soon as practicable.
Save as disclosed above, neither Macfarlane nor any persons
acting in concert with Macfarlane owned any BPI shares (or
rights over such shares) immediately prior to the commencement
of the Offer Period, nor have acquired or agreed to acquire
any BPI shares (or rights over such shares) during the Offer
Period.
This announcement should be read in conjunction with the
Original Offer Document, the document sent to BPI shareholders
on 2 November 2000, the Increased Final Offer Document, the
letters sent to BPI shareholders on 8 and 12 December 2000 and
the Revised Form of Acceptance. Terms defined in the above
documents have the same meanings when used herein unless the
context requires otherwise.
* Macfarlane reserves the right to revise and/or
increase and/or extend the Increased Final Offer in the
event of a competitive situation (as determined by the
Panel) arising or otherwise with the consent of the
Panel.
Enquiries:
Macfarlane Group PLC
Iain Duffin 0141 333 9666
Noble Grossart Limited
Sir Angus Grossart 0131 226 7011
Todd Nugent
HSBC
John Hannaford 020 7336 9000
Bell Pottinger
David Rydell/ Kate Power 020 7353 9203
Beattie Media
Gordon Beattie 01698 787878
The directors of Macfarlane (whose names are set out in
paragraph 2 of part 7 of the Original Offer Document) accept
responsibility for the information contained in this
announcement and to the best of the knowledge and belief of
the directors of Macfarlane (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.
Noble Grossart Limited, which is regulated in the UK by The
Securities and Futures Authority Limited, is acting for
Macfarlane and no one else in connection with the Increased
Final Offer, and will not be responsible to anyone other than
Macfarlane for providing the protections afforded to customers
of Noble Grossart Limited, or for providing advice in relation
to the Increased Final Offer. The contents of this
announcement have been approved by Noble Grossart Limited for
the purpose only of Section 57 of the Financial Services Act
1986.
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
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