AGM Resolution Proposals
Jardine Matheson Hldgs Ld
8 May 2000
Members' Resolutions to be Proposed at Jardine Matheson
Annual General Meeting
8th May 2000 -- Jardine Matheson Holdings Limited today
announced that it had received notice on behalf of
certain shareholders of their intention to propose
members' resolutions at the Annual General Meeting to be
held on 1st June 2000. The notice has been received from
Brandes Investment Partners, L.P. ('Brandes'), a US
registered investment advisory firm.
The resolutions deal with the role of the Directors of
the Company who are also directors of Jardine Strategic
Holdings Limited, require the Directors to vote the
shares held by the Company in Jardine Strategic in favour
of members' resolutions which have been submitted by
Brandes for consideration at the annual general meeting
of Jardine Strategic, recommend the Board consider making
an offer for Jardine Strategic and propose an amendment
to the Bye-Laws of the Company regarding the Directors'
retirement by rotation provision. The members'
resolutions are set out in the Addendum to the Notice of
Annual General Meeting, which has been sent to
shareholders together with the Company's 1999 annual
report.
'The Board of Jardine Matheson welcomes dialogue with
shareholders on such matters, and remains very conscious
of the need to create shareholder value,' said Managing
Director, Percy Weatherall. 'However, we believe the
stability that the Group structure provides enables our
businesses to compete effectively in their chosen
marketplaces and plan for the long term in what remains a
volatile region.'
The Board of Jardine Matheson is of the opinion that none
of the members' resolutions to be proposed at the Annual
General Meeting is in the long-term best interests of the
shareholders, other stakeholders or the Company.
Accordingly, shareholders are being recommended to vote
against these resolutions, as the Directors intend to do
in respect of their own beneficial shareholdings.
Jardine Matheson is a multinational group of eight prime
businesses focused primarily on the Asia-Pacific Region. Its
operations employ some 150,000 people and its activities are
leaders in the fields of financial services, supermarkets,
consumer marketing, engineering and construction, motor
trading, property and hotels. The Group is building its core
businesses largely in Asia Pacific with the goal of enhancing
shareholder value for the long term.
For further information, please contact:
Jardine Matheson Limited
Neil M McNamara Tel: (852) 2843 8227 (office)
Forrest International Limited
Sue Gourlay Tel: (852) 2501 7936 (office)
Matheson & Co.Limited
Martin Henderson Tel: (44) 0207 816 8135 (office)
Ludgate Communications
Richard Hews Tel: (44) 0207 253 2252 (office)
The Annual Report and the Addendum to the Notice of Annual
General Meeting will be available on www.jardines.com after
9:00 am tomorrow.
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