15th Apr 2008 07:00
Smiths Group PLC14 April 2008 14 April 2008 SMITHS GROUP PLC B Share Offer and dividend Final Purchase Offer Not for release, publication or distribution in whole or in part into the UnitedStates, Canada, Australia and New Zealand. Smiths Group plc (Smiths) announced on 20 March 2008 that it had sent a letterto the holders of its outstanding B Shares informing them that it is intended,subject to certain conditions, that a final purchase offer will be made for theoutstanding B Shares by JPMorgan Cazenove Limited (JPMorgan Cazenove) on 17April 2008 (the Final Purchase Offer). The B Shares were created in connection with the return of approximately £2.1billion to Smiths shareholders in June 2007, details of which were contained inthe circular to shareholders dated 16 May 2007. The return of cash providedshareholders with three alternatives in relation to their B Shares and, as aresult of elections made by certain shareholders to retain all or some of the BShares to which they became entitled pursuant to the return of cash, 4,926,594 BShares remain issued and outstanding. Forms of acceptance in respect of the Final Purchase Offer have been received inrelation to 4,467,437 B Shares (representing 90.68 per cent. of the outstandingB Shares). It is expected that JPMorgan Cazenove, acting as principal, will make the FinalPurchase Offer to purchase the B Shares in respect of which valid forms ofacceptance have been received by means of a Regulatory News Service announcementon 17 April 2008. Settlement of the Final Purchase Offer is expected to be madeon or about 22 April 2008. B Share Continuing Dividend As previously announced, the non-cumulative preferential dividend payable on theoutstanding B Shares, amounting to 14 pence per B Share, will be paid by Smithson 16 April 2008. For further information:Smiths Group plc: 020 8458 3232Peter Durman JPMorgan Cazenove: 020 7588 2828Edmund ByersMatthew Lawrence JPMorgan Cazenove, which is authorised and regulated in the United Kingdom bythe FSA, is acting for Smiths and no-one else in connection with the FinalPurchase Offer and will not be responsible to anyone other than Smiths forproviding the protections afforded to clients of JPMorgan Cazenove or forproviding advice in relation to the Final Purchase Offer. No offer to purchase B Shares is being or will be made in any territory where itis illegal to do so by Smiths or JPMorgan Cazenove Limited or any person actingon behalf of either of the foregoing. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Smiths Group