Of the unaudited net assets per share of US$4.21, US$3.59 is attributable to the Company's interests in directly held businesses, other than Jardine Matheson, based on market price. The remainder is attributable to the Company's effective holdings in Jardine Matheson's businesses based on market price and adjusted to exclude its share of the market value of Jardine Strategic's businesses.
These calculations are based on unaudited information and on 913.2 million ordinary shares outstanding at the end of February 1998 which exclude the cross-holding of 242.1 million shares held by Jardine Matheson Holdings Limited and a further 58.7 million shares held by a wholly- owned subsidiary of the Company.
The exercise of all the outstanding 117.3 million call warrants in the Company would not result in a dilution of the net assets per ordinary share.
For further information, please contact:
Jardine Matheson Limited Neil M. McNamara Tel:(852)2843-8227(office)
Ludgate Asia Limited Ann Hung Tel:(852)2543-5413(office)
This announcement can be accessed through the Internet at http://www.irasia.com/listco/sg/jshl and is also available through "First Call".
Issued by:
Jardine Matheson Limited
Incorporated in Bermuda with limited liability
48th Floor, Jardine House, Hong Kong