Fthr reSyngentaGlobal Sec Off
AstraZeneca PLC
13 November 2000
Not for distribution or release in whole or in part into or from the United
States, Canada, Australia or Japan
SYNGENTA SHARES PRICED AT CHF 85 FOR GLOBAL SECONDARY OFFERING
AstraZeneca announces that AstraZeneca, Novartis, Syngenta and the Joint
Global Co-ordinators have set a price of CHF 85 per share (equivalent to
approximately £33.65 and 479.88 SEK per share) and USD 9.63 per ADS for the
Global Secondary Offering of Syngenta shares. The price per ADS is based upon
the noon buying rate of the New York Federal Reserve Bank on 10 November 2000
of CHF 1.7657 to USD 1. Trading in Syngenta shares is expected to commence on
the Swiss, London and Stockholm Stock Exchanges, and Syngenta ADSs on the New
York Stock Exchange on 13 November 2000.
The syndicate banks are led by the Joint Global Coordinators, Credit Suisse
First Boston and UBS Warburg. They will allocate 4,500,000 Syngenta shares (in
the form of shares or ADSs) to institutional investors worldwide in the Global
Secondary Offering. Following the commencement of trading, the Joint Global
Co-ordinators will procure the shares in the Global Secondary Offering either
by purchasing Syngenta shares in the open market, or by exercising all or part
of the option granted to them by certain Novartis affiliates and related
entities.
Syngenta intends to implement in the first ten trading days the repurchase of
up to 10% of its issued share capital, in full. Syngenta intends to commence
the repurchase programme at the earlier of (i) such time as the managers of
the Global Secondary Offering have covered their short position by purchasing
in the market Syngenta shares distributed to AstraZeneca shareholders, or (ii)
on the fourth day of trading. This will be subject to market conditions and
all applicable laws and regulations in the relevant jurisdictions, and at the
discretion of the Syngenta board. The share repurchase will be funded by
Novartis and AstraZeneca.
10 November 2000
Contact:
AstraZeneca
Michael Olsson Tel.: +44 207 304 5000
Credit Suisse First Boston
John Owen Tel.: +44 207 888 5270
UBS Warburg
Camilla Brooks Tel.: +44 207 568 2248
The content of this announcement has been approved by each of Credit Suisse
First Boston (Europe) Limited and UBS AG, acting through its business group
UBS Warburg, each of which is regulated in the UK by The Securities and
Futures Authority Limited, solely for the purposes of Section 57 of the
Financial Services Act 1986.
Each of Credit Suisse First Boston (Europe) Limited and UBS AG, acting through
its business group UBS Warburg, are acting for Syngenta AG, Novartis AG and
AstraZeneca PLC and no one else in connection with the transactions and will
not be responsible to anyone other than Syngenta AG, Novartis AG and
AstraZeneca PLC for providing the protections afforded to customers of Credit
Suisse First Boston (Europe) Limited or UBS AG, acting through its business
group UBS Warburg respectively or for providing advice in relation to the
transactions.
Prices and values of, and income from, shares can go down as well as up. Past
performance is not a guide to future performance. Persons needing advice
should consult an independent financial adviser.
This release does not constitute or form part of any offer or invitation to
sell or issue, or any solicitation of any offer to purchase or subscribe for,
any ordinary shares in Syngenta AG or Syngenta ADSs, nor shall it form the
basis of, or be relied on in connection with, any contract therefor.
Securities in the global secondary offering may not be offered or sold in the
United States absent registration or exemption from registration under the
U.S. Securities Act of 1933. Any public offering of securities to be made in
the United States will be made by means of a prospectus that may be obtained
from the Company and that will contain detailed information about Syngenta and
its management, as well as financial statements. Syngenta has filed a
registration statement relating to the offering of securities in the United
States, which is now effective.
The Global Offer Price has been converted into £ at the rate of CHF 2.5258 to
£1 and into SEK at the rate of CHF 0.177129 to SEK1.
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