Bidvest - Cautionary Announcement
The Bidvest Group Limited
("Bidvest")
(Registration number 1946/021180/06)
Share Code: BVT
ISIN Code: ZAE000050449
CAUTIONARY ANNOUNCEMENT
Bidvest, which owns 81% of the shares in Bidvest plc ("Bidplc"), has reached
agreement in principle with certain significant minority shareholders in Bidplc
to acquire, subject to the satisfaction of certain pre-conditions, all of their
shares in Bidplc for a price of A$ 6.00, in cash, per Bidplc share. It is
intended that this would be effected by means of an offer to all shareholders in
Bidplc.
Shareholders are advised that no assurance can be given that an offer will be
made for Bidplc and accordingly shareholders are requested to exercise caution
in their dealings with their Bidvest shares until a further announcement is
made.
Bidplc is listed on the Luxembourg and Australian Stock Exchanges and comprises
3663 First for Foodservice in the United Kingdom, Bidvest First for Foodservice
in Australia and Crean First for Foodservice in New Zealand.
As Bidplc is an Isle of Man incorporated company, any offer by Bidvest to
acquire the minorities in Bidplc will be subject to the UK City Code on
Takeovers and Mergers ("the City Code").
As a result, any person who, alone or acting together with any other person(s)
pursuant to an agreement or understanding whether formal or informal) to acquire
or control securities of Bidplc, owns or controls, or become the owner or
controller, directly or indirectly of one per cent. or more of any class of
securities of Bidplc is generally required under the provision of Rule 8 of the
City Code to notify the London Stock Exchange plc and The Panel on Takeovers and
Mergers of every dealing in such securities until such time as the offer period
ends for the purposes of the City Code.
Dealings by Bidplc or by their respective "associates" (within the definitions
set out in the City Code) in any class of securities of Bidplc must also be
disclosed. Please consult your financial adviser immediately if you believe this
rule may be applicable to you.
March 5 2004
Sandton
CONTACTS
Bidvest: Brian Joffe (Chairman)
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 has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
