Diageo PLC Close of the PTO for shares in SJF (6309X)

TIDMDGE

RNS Number : 6309X

Diageo PLC

13 August 2018

13 August 2018

Close of the partial tender offer for shares in Sichuan Shuijingfang Company Limited

Subsequent to the announcements made on 25 June 2018 and 10 July 2018, the offer period for the partial tender offer made by Diageo, through its wholly owned subsidiary Grand Metropolitan International Holdings Limited ("GMIHL"), to increase its aggregate equity stake in Sichuan Shuijingfang Company Limited ("SJF") from approximately 39.71% to up to a maximum of 60% (the "PTO") closed on 11 August 2018.

As SJF distributed a cash dividend of RMB0.62 per share (inclusive of tax) during the offer period, the offer price was adjusted in accordance with the applicable local regulations from RMB62.00 per share to RMB61.38 per share with effect from 2 August 2018.

According to the information available to Diageo today, a total of 247,176,244 shares, representing approximately 50.59% of the issued share capital of SJF, have been tendered for acceptance under the PTO. Given that the number of shares tendered is more than the 99,127,820 maximum, GMIHL will purchase the shares tendered on a pro rata basis.

Settlement of the PTO is expected to take place on 17 August 2018. On completion of the PTO, Diageo's aggregate equity stake in SJF will be 60%. SJF will continue to meet the minimum public float requirement of the Shanghai Stock Exchange and its listing status will not be affected.

Further details on settlement are available in the Chinese language on the website of the Shanghai Stock Exchange (http://www.sse.com.cn).

Enquiries:

Investor Relations: Andy Ryan [phone]

[e-mail]

Media Relations: Bianca Agius [phone]

[e-mail]

About SJF

SJF is a China-based and Shanghai-listed company principally engaged in the manufacture and sales of alcoholic products. It mainly provides liquor series products under the brand of "Swellfun" and its wine products include Swellfun Diancang, Swellfun Jingtai, Swellfun Zhenniang No. 8, Swellfun Yuanmingqing, Swellfun Jingcui, Swellfun Hongyun, Swellfun Jindian, Swellfun Meilanjuzhu, Xiaoshuijing, Shuijingshangpin and Tianhaochen. SJF distributes its products within both domestic and overseas markets.

About GMIHL

GMIHL is a wholly owned investment holding company of Diageo, the global leader in beverage alcohol with an outstanding collection of brands across spirits and beer categories

About Diageo

Diageo is a global leader in beverage alcohol with an outstanding collection of brands across spirits and beer categories. These brands include Johnnie Walker, Crown Royal, J B, Buchanan's and Windsor whiskies, Smirnoff, Cîroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Tanqueray and Guinness.

Diageo is a global company, and our products are sold in more than 180 countries around the world. The company is listed on both the London Stock Exchange (DGE) and the New York Stock Exchange (DEO).

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August 13, 2018 07:18 ET (11:18 GMT)