We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Name | Symbol | Market | Type |
---|---|---|---|
Wt Batterymetal | LSE:WATT | London | Exchange Traded Fund |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 17.01 | 16.83 | 16.945 | 0 | 12:04:28 |
RNS No 1856v WATTS BLAKE BEARNE & COMPANY PLC 5th February 1999 PART ONE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES, CANADA OR JAPAN S.C.R.-SIBELCO S.A. ------------------------------------------------------------------ -------- UNCONDITIONAL RECOMMENDED CASH OFFERS FOR WATTS BLAKE BEARNE & COMPANY PLC Summary of the Offers --------------------- * The boards of Sibelco and Watts Blake Bearne announce that they have agreed the terms of unconditional recommended cash offers, to be made by Lazard Brothers on behalf of Sibelco or one of its wholly owned subsidiaries, for the whole of the issued and to be issued ordinary and preference share capital of Watts Blake Bearne not already owned by Sibelco. * The Ordinary Offer will be 500 pence in cash for each Watts Blake Bearne Ordinary Share, valuing the whole of the issued ordinary share capital of Watts Blake Bearne at approximately GBP105.2 million and the issued Watts Blake Bearne Ordinary Shares not already owned by Sibelco at approximately GBP48.3 million. * The Ordinary Offer represents a premium of 30.7 per cent. to the Closing Middle Market Price of 382.5 pence per Watts Blake Bearne Ordinary Share on 15th January, 1999, the last business day prior to the announcement that Watts Blake Bearne was in discussions with Sibelco which may or may not lead to an offer by Sibelco or one of its subsidiaries for the outstanding Watts Blake Bearne Ordinary Shares not already owned by Sibelco at a price of 500 pence per Watts Blake Bearne Ordinary Share in cash. * The Preference Offer will be 100 pence in cash for each Watts Blake Bearne Preference Share. * Sibelco currently owns 11,386,824 Watts Blake Bearne Ordinary Shares, representing approximately 54.1 per cent. of the issued ordinary share capital of Watts Blake Bearne. * Sibelco has received irrevocable undertakings from the Independent Directors of Watts Blake Bearne and certain other shareholders to accept the Offers in respect of a total of 5,384,435 Watts Blake Bearne Ordinary Shares, representing 25.6 per cent. of Watts Blake Bearne's issued ordinary share capital, and a total of 109,389 Watts Blake Bearne Preference Shares, representing 74.9 per cent. of Watts Blake Bearne's issued preference share capital. Commenting on the Offers, Stanislas Emsens, Chairman of Sibelco, said: 'As Watts Blake Bearne's major shareholder over the past five years, Sibelco has been fully supportive of Watts Blake Bearne in the pursuit of its strategic objectives. We look forward to working closely with Watts Blake Bearne's management team and employees in the on-going drive to build and develop Watts Blake Bearne's activities within the enlarged Sibelco Group.' Michael Beckett, Chairman of Watts Blake Bearne, said: "The board of Watts Blake Bearne is pleased to be able to recommend the offers from Sibelco, which deliver value to all shareholders. The combination of Sibelco and Watts Blake Bearne has considerable industrial logic, which will benefit both customers and our employees who will have an excellent opportunity to progress within the enlarged group. We very much look forward, therefore, to playing a full part in the enlarged group's future success". This summary should be read in conjunction with the full text of this press release. Enquiries --------- Lazard Brothers & Co., Limited 0171 588 2721 ------------------------------ John Dear Etienne Bottari Watts Blake Bearne ------------------ Michael Beckett 0171 379 1000 Graham Lawson 01626 332 345 Dresdner Kleinwort Benson 0171 623 8000 ------------------------- Rosalind Hedley-Miller Lazard Brothers, which is regulated in the United Kingdom by the Securities and Futures Authority Limited, is acting for Sibelco and for no one else in connection with the Offers and will not be responsible to anyone other than Sibelco for providing the protections afforded to customers of Lazard Brothers nor for giving advice in relation to the Offers. Dresdner Kleinwort Benson, which is regulated in the United Kingdom by the Securities and Futures Authority Limited, is acting for Watts Blake Bearne and for no one else in connection with the Offers and will not be responsible to anyone other than Watts Blake Bearne for providing the protections afforded to customers of Dresdner Kleinwort Benson nor for giving advice in relation to the Offers. The Offers will not be made, directly or indirectly, in or into the United States, Canada or Japan. MORE TO FOLLOW OFFDGGBDDDGCCCS
1 Year Wt Batterymetal Chart |
1 Month Wt Batterymetal Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions