| Wed 21 Jul 2004, 16:15 | | SABMILLER / ABI - CAUTIONARY ANNOUNCEMENT |
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SABMILLER / ABI - CAUTIONARY ANNOUNCEMENT
SABMiller plc Amalgamated Beverage Industries
Registered in England & Wales Limited
Registration number 3528416 Incorporated in the Republic of
Share code SAB South Africa
ISIN Number GB0004835483 Registration number 1970/006820/06
(`SABMiller`) Share code ABI
ISIN Number ZAE000000048
(`ABI`)
CAUTIONARY ANNOUNCEMENT
Not for release, publication or distribution, in whole or in part, in, into or
from the United States, Canada, Australia or Japan
The board of directors of ABI has been informed by SABMiller plc that SABMiller
is currently investigating proposals which may lead to it making an offer to
acquire all of the ABI shares that it does not already own for a cash
consideration of approximately R78.00 per ABI share.
The board of directors of ABI has formed a separate independent sub-committee to
ensure appropriate governance throughout any ensuing processes and to consider
any possible offer that may be forthcoming from SABMiller. The board sub-
committee is also in the process of appointing independent advisors to assist it
in its tasks and to provide it with external advice as may be required in terms
of the Securities Regulation Code and by the Rules of the Securities Regulation
Panel.
Shareholders of ABI are therefore advised to exercise caution when dealing in
their shares until further announcements are made.
Johannesburg
21 July 2004
Investment bank to SABMiller
Nedbank Capital
Sponsor to SABMiller and ABI
Cazenove
Attorneys to SABMiller
Werksmans Inc
Barkers Attorneys
Notes to editors:
ABI:
Amalgamated Beverage Industries Limited (ABI) is the leading soft drink business
in the SABMiller plc group of companies. ABI remains one of the largest
producers and trade marketers of The Coca-Cola Company brands in the southern
Africa region. The company`s core skills lie in the manufacture, trade
marketing, sales and distribution of a variety of the world`s leading soft drink
brands, including carbonated soft drinks, sports and energy drinks, bottled
water and fruit juices.
The company was established in 1967 as a result of agreements between the Coca-
Cola Export Corporation of the US, Cadbury Schweppes (SA) Ltd and South African
Breweries Ltd. It became a public company in 1987 and listed on the
Johannesburg Securities Exchange in 1989.
SABMiller plc:
SABMiller plc is one of the world`s largest brewers, with 2003/04 lager sales
volumes in excess of 137 million hectolitres. It has a brewing presence in over
40 countries across four continents and a portfolio of strong brands and leading
market shares in many of the countries in which it has brewing operations.
Outside the USA, SABMiller plc is one of the largest bottlers of Coca-Cola
products in the world.
In the year ended 31 March 2004, the group generated US$1,391million pre-tax
profit from a turnover of US$12,645 million. SABMiller plc is listed on the
London and Johannesburg stock exchanges.
This announcement does not constitute an offer to sell or the solicitation of an
offer to purchase or subscribe for any securities in any jurisdiction.
The release, publication or distribution of this announcement in certain
jurisdictions may be restricted by law and therefore persons in any such
jurisdictions into which this announcement is released, published or distributed
should inform themselves about, and observe, such restrictions.
This announcement contains statements about Amalgamated Beverages Industries
Limited (`ABI`), SABMiller plc (`SABMiller`) and members of the SABMiller group
(together with SABMiller, the `SABMiller Group`) that are or may be forward
looking statements. All statements other than statements of historical facts
included in this announcement may be forward looking statements. Any statements
preceded or followed by or that include the words `targets`, `plans`,
`believes`, `expects`, `aims`, `intends`, `will`, `may`, `anticipates` or
similar expressions or the negative thereof are forward looking statements.
Forward looking statements include statements relating to the following: (i)
future capital expenditures, expenses, revenues, economic performance, financial
condition, dividend policy, losses and future prospects; (ii) business and
management strategies and the expansion and growth of ABI`s or the SABMiller
Group`s operations; and (iii) the effects of government regulation on ABI`s or
the SABMiller Group`s business.
These forward looking statements involve known and unknown risks, uncertainties
and other factors which may cause the actual results, performance or
achievements of any such person, or industry results, to be materially different
from any results, performance or achievements expressed or implied by such
forward looking statements. These forward looking statements are based on
numerous assumptions regarding the present and future business strategies of
such persons and the environment in which each will operate in the future. All
subsequent oral or written forward looking statements attributable to ABI or any
member of the SABMiller Group or any persons acting on their behalf are
expressly qualified in their entirety by the cautionary statement above. ABI
and the SABMiller Group expressly disclaim any obligation or undertaking to
disseminate any updates or revisions to any forward-looking statements contained
herein to reflect any change in their expectations with regard thereto or any
change in events, conditions or circumstances on which any such statement is
based.
21 July 2004
Date: 21/07/2004 04:00:04 PM Produced by the JSE SENS Department
