South African Breweries PLC
13 August 2001
NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES,
CANADA OR JAPAN
South African Breweries plc
Convertible Bond Issue by SAB Finance (Cayman Islands) Ltd
SAB Finance (Cayman Islands) Limited (the 'Issuer') US$500,000,000 4.25 per
cent. Guaranteed Convertible Bonds due 2006 (the 'Bonds') guaranteed by South
African Breweries plc ('SAB') and by South African Breweries International
(Finance) B.V. and convertible into 4.25 per cent. exchangeable redeemable
preference shares of the Issuer which will be either exchanged immediately
upon issuance for, or redeemed and the proceeds applied to subscribe for or
purchase, ordinary shares in SAB
Following the announcements of 9 July 2001 and 11 July 2001 concerning the
launch and the pricing of the Convertible Bond Issue by SAB's wholly owned
subsidiary SAB Finance (Cayman Islands) Limited, SAB announces for the
information of shareholders that the Issue closed on Friday 10 August 2001.
The Bonds have been admitted to the official list of the UK Listing Authority
and to trading on the London Stock Exchange's market for listed securities
today, 13 August 2001. In addition, the Bonds are expected to be eligible for
trading by qualified institutional buyers in The Portal Market TM of the
Nasdaq Stock Market.
The Issuer has granted JPMorgan, on behalf of the Managers, an option
exercisable on one occasion at any time up to and including the date 30 days
after the Closing Date to subscribe, or procure subscribers for, up to a
further US$100,000,000 in aggregate principal amount of Bonds.
In connection with this issue, JPMorgan may effect transactions up to and
including 7 September 2001 which stabilise or maintain the market price of the
Bonds and/or the ordinary shares in SAB at a level which might not otherwise
prevail. Such stabilisation, if commenced, may be discontinued at any time.
The CUSIP number for the Rule 144A Bonds is 783866 AA4. The ISIN for the Rule
144A Bonds is US783866AA44. The common code for the Regulation S Bonds is
013269840 and the ISIN for the Regulation S Bonds is XS0132698407.
This press release does not constitute an offer of the Bonds to any person, or
an invitation by or on behalf of SAB or SAB Finance (Cayman Islands) Limited
to any person to subscribe for or purchase any of the Bonds. The Bonds, the
preference shares and the ordinary shares to be issued in exchange for the
preference shares upon conversion of the Bonds, have not been and will not be
registered under the United States Securities Act of 1933. The Bonds may not
be offered or sold in the United States or to, or for the account or benefit
of, U.S. persons (as such term is defined in Regulation S under the U.S.
Securities Act of 1933) unless they are registered or exempt from
For more information, please contact:
South African Breweries plc:
Chief Financial Officer +44 20 7659 0100
Director of Communications +44 20 7659 0119/+44 7880 502 755
Tim Elliott +44 20 7325 4996