NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES,
CANADA OR JAPAN
SAB Finance (Cayman Islands) Ltd
9 August 2001
Immediate Release
SAB Finance (Cayman Islands) Ltd
Convertible Bond Issue
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
SAB Finance (Cayman Islands) Limited is pleased to announce that the
offering circular dated 7 August 2001 in relation to the issue (the
"Offering Circular") has been filed with the Registrar of Companies in
England and Wales as required by Section 149 of the Financial Services Act
1986.
Application has been made to the Financial Services Authority in its
capacity as competent authority for the purposes of the Financial Services
Act 1986 (the "UK Listing Authority") for the Bonds to be admitted to the
official list of the UK Listing Authority and for the Bonds to be admitted
to trading on the London Stock Exchange's market for listed securities. In
addition, the Bonds are expected to be eligible for trading by qualified
institutional buyers in The Portal Market T of the Nasdaq Stock Market. It
is expected that closing will take place on or about 10 August 2001 and that
the Bonds will be admitted to the official list of the UK Listing Authority
and to trading on the London Stock Exchange's market for listed securities
on or about 13 August 2001.
The Issuer has granted JP Morgan, 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, JP Morgan 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 and not as stated in the Offering Circular.
The common code for the Regulation S Bonds is 013269840 and the ISIN for the
Regulation S Bonds is XS0132698407.
JP Morgan is the Sole Bookrunner and Lead Manager for the offering. Cazenove
is the Joint Lead Manager. Hawkpoint Partners are Financial Advisers to SAB
regarding the offering.
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 registration.
For more information, please contact:
South African Breweries plc:
Malcolm Wyman
Chief Financial Officer +44 20 7659 0100
Nick Chaloner
Director of Communications +44 20 7659 0119/+44 7880 502 755
JP Morgan:
Tim Elliott +44 20 7325 4996
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
