| Fri 7 Sep 2001, 0:00 | | South African Breweries Plc - Convertible Bond Iss |
|
NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES,
CANADA OR JAPAN
For immediate release
7 September 2001
South African Breweries plc
Convertible Bond Issue
Exercise of Option in respect of US$100,000,000 principal amount of Bonds
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 announces that on 7 September 2001,
JPMorgan, on behalf of the Managers, exercised its option to subscribe, or
procure subscribers for, a further US$100,000,000 in aggregate principal
amount of Bonds (the "Optional Bonds"). Following the issue of the Optional
Bonds, the aggregate principal amount of the Bonds will be US$600,000,000.
It is expected that the issue of and payment for the Optional Bonds will
take place on or about 14 September 2001, and that the Optional 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 17
September 2001.
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 "Securities Act"). 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 Securities Act) unless they are
registered under the Securities Act or exempt from registration thereunder.
Any offering of securities to be made in the United States will be made by
means of an offering circular that will contain detailed information about
SAB, SAB Finance (Cayman Islands) Limited and management, as well as
financial statements.
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
Ends
