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Jardine Strategic Announces Results of Tender Offer
Hamilton, Bermuda: 8th April 2010 – Jardine Strategic Holdings Limited (‘Jardine Strategic’) today announced the results of the Tender Offer (‘Tender Offer’) made to repurchase its own
Shares. The Tender Offer was announced on 5th March 2010 and closed on 7th April 2010.
Jardine Strategic has received valid tenders for 277,796 Shares under the Tender
Offer. In accordance with the terms of the Tender Offer, the Strike Price has been set
at US$19.00 per Share. As the Tender Offer has not been fully subscribed, all valid
Tenders have been accepted in full and will be repurchased at the Strike Price. The
total consideration payable under the Tender Offer is US$5.28 million.
Payment will be sent on 16th April 2010 in respect of accepted Tenders in accordance
with the terms of the Tender Offer. Balance share certificates in respect of partial
Tenders will be despatched on 23rd April 2010.
The Tender Offer was made pursuant to the share repurchase authority approved by
shareholders at the annual general meeting of Jardine Strategic held in May 2009.
The Shares repurchased pursuant to the Tender Offer will be cancelled.
Jardine Matheson did not tender into the Tender Offer any of its holding of
approximately 900 million Shares. Based on the number of Shares being
repurchased and cancelled Jardine Matheson’s shareholding in Jardine Strategic
remains at approximately 81 per cent. of its issued share capital.
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Jardine Strategic is a holding company which takes long-term strategic investments in
multinational businesses, particularly those with an Asian focus, and in other high quality
companies with existing or potential links with the Group. Its principal attributable interests
are in Jardine Matheson (54%), Hongkong Land (50%), Dairy Farm (78%), Mandarin Oriental
(75%) and Jardine Cycle & Carriage (69%), which in turn has a 50% interest in Astra.
Jardine Strategic is 81%-held by Jardine Matheson. The Company also has a 21% interest
in Rothschilds Continuation.
The primary share listing of the parent company, Jardine Strategic Holdings Limited, is in
London, with secondary listings in Bermuda and Singapore. The Company is incorporated
in Bermuda and its interests are managed from Hong Kong by Jardine Matheson Limited.
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This announcement is not intended to and does not constitute an offer or invitation to
purchase any securities pursuant to the Tender Offer or otherwise. The Tender Offer was
made solely through the Tender Offer Document, which contained the full terms and
conditions of the Tender Offer.
The release, publication or distribution of this announcement in certain jurisdictions may be
restricted by law and therefore any persons who are subject to the laws of any such
jurisdiction should inform themselves about, and observe, any applicable requirements.
For further information, please contact:
Jardine Matheson Limited
Neil M McNamara (852) 2843 8227
GolinHarris
John Morgan (852) 2501 7939
This and other Group announcements can be accessed through the Internet at
‘www.jardines.com’.