The take-over offer is being made solely to comply with the Singapore regulatory requirements. It is not the intention of Jardine Strategic or parties acting in concert with it to acquire control of C&C. However, Jardine Strategic believes that the share price of S$3.30 (which is the offer price) is sufficiently attractive for it to increase its stake in C&C above 25%, notwithstanding that this has resulted in incurring an obligation to make a take-over offer to comply with the Singapore regulations.
The take-over offer shall remain open to the C&C shareholders until 3:30 pm on 28th December 2000.
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 (50%), Dairy Farm (59%), Hongkong Land (35%), Mandarin Oriental (62%) and Cycle & Carriage (25%).