€žh Net Assets Per Share
On 31st October 1999 Jardine Strategic¡¦s Unaudited net assets per share were US$3.61. Of this amount, US$2.83 is attributable to Jardine Strategic¡¦s interests indirectly 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 889.8 million shares outstanding at the end of October 1999, which exclude the cross-holding of 265.5 million shares held by Jardine Matheson and a further 58,668,502 shares then held by a wholly-owned subsidiary of the Company, Wyndham Holdings Inc. (¡§Wyndham¡¨).
Repurchase and Cancellation of Shares in the Company held by Wyndham
On 9th November 1999, Jardine Strategic repurchased and cancelled the 58,668,502 ordinary shares in the Company held by Wyndham. The consideration for the repurchase of US$24.6 million represented the value of such shares in the books of Wyndham and was satisfied by the settlement of an outstanding debt of an equivalent amount. Following the repurchase and cancellation of the shares held by Wyndham, the number of ordinary shares of Jardine Strategic remaining in issue is 1,155,303,192 ordinary shares.