Wrap Text
Response to press speculation
SABMiller plc
JSEALPHA CODE: SAB
ISIN CODE: SOSAB
ISIN CODE: GB0004835483
16 September 2015
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO, OR FROM ANY
JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF
THAT JURISDICTION
THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND
MERGERS (THE “CODE”) AND DOES NOT CONSTITUTE AN ANNOUNCEMENT OF A FIRM INTENTION TO
MAKE AN OFFER UNDER RULE 2.7 OF THE CODE. THERE CAN BE NO CERTAINTY THAT ANY FIRM
OFFER WILL BE MADE OR AS TO THE TERMS ON WHICH ANY FIRM OFFER MIGHT BE MADE
Response to press speculation
The Board of SABMiller notes the recent press speculation and confirms that Anheuser-Busch InBev SA/NV
(“ABInBev”) has informed SABMiller that it intends to make a proposal to acquire SABMiller. No proposal has yet
been received and the Board of SABMiller has no further details about the terms of any such proposal.
The Board of SABMiller will review and respond as appropriate to any proposal which might be made.
There can be no certainty that an offer will be made or as to the terms on which any offer might be made.
In the interim, shareholders are strongly advised to retain their shares and to take no action.
Accordingly, in accordance with Rule 2.6(a) of the Code, SABMiller announces that, by not later than 5.00 pm on
14 October 2015, ABInBev must either announce a firm intention to make an offer for SABMiller under Rule 2.7
of the Code or announce that it does not intend to make an offer for SABMiller, in which case the announcement
will be treated as a statement to which Rule 2.8 of the Code applies. This deadline will only be extended with the
consent of the Takeover Panel in accordance with Rule 2.6(c) of the Code.
ENDS
Notes to editors
SABMiller plc
SABMiller is in the beer and soft drinks business, bringing refreshment and sociability to millions of people all
over the world who enjoy our drinks. The company does business in a way that improves livelihoods and helps
build communities.
SABMiller is passionate about brewing and has a long tradition of craftsmanship, making superb beer from high
quality natural ingredients. Our local beer experts brew more than 200 beers from which a range of special
regional and global brands have been carefully selected and nurtured.
SABMiller is a FTSE-20 company, with shares trading on the London Stock Exchange, and a secondary listing
on the Johannesburg Stock Exchange. The group employs around 69,000 people in more than 80 countries,
from Australia to Zambia, Colombia to the Czech Republic, and South Africa to the USA. Every minute of every
day, more than 140,000 bottles of SABMiller beer are sold around the world.
In the year ended 31 March 2015, SABMiller sold 324 million hectolitres of lager, soft drinks and other alcoholic
beverages, generating group net producer revenue of US$26,288 million and EBITA of US$6,367 million.
This announcement is available on the company website: www.sabmiller.com
Further information is also available on:
www.sabmiller.com
www.facebook.com/sabmiller
www.twitter.com/sabmiller
www.youtube.com/sabmiller
Enquiries
SABMiller plc Gary Leibowitz Christina Mills Richard Farnsworth
t: +44 20 7659 0100 Director, Investor Director, Group Business Media Relations
Engagement Communication Manager
SABMiller plc SABMiller plc SABMiller plc
t: +44 20 7659 0119 t: +44 7825 275605 t: +44 7734 776 317
Robey Warshaw +44 (0) 20 7317 3900
Simon Robey
Simon Warshaw
J.P. Morgan Cazenove +44 (0) 20 7777 2000
John Muncey
Dwayne Lysaght
Morgan Stanley +44 (0) 20 7425 8000
Henry Stewart
Paul Baker
Important notices relating to financial advisers
Robey Warshaw LLP (“Robey Warshaw”), which is authorised and regulated by the Financial Conduct Authority, is acting as
joint financial adviser to SABMiller and no one else in connection with the contents of this announcement and will not be
responsible to anyone other than SABMiller for providing the protections afforded to its clients or for providing advice in
connection with the contents of this announcement or any matter referred to in this announcement.
SABMiller plc
J.P. Morgan Limited, which conducts its UK investment banking businesses as J.P. Morgan Cazenove ("J.P. Morgan
Cazenove"), is authorised and regulated in the United Kingdom by the Financial Conduct Authority. J.P. Morgan Cazenove is
acting as joint financial adviser exclusively for SABMiller and no one else in connection with the matters set out in this
announcement and will not regard any other person as its client in relation to the matters in this announcement and will not
be responsible to anyone other than SABMiller for providing the protections afforded to clients of J.P. Morgan Cazenove, nor
for providing advice in relation to any matter referred to herein.
Morgan Stanley & Co. International plc ("Morgan Stanley") which is authorised by the Prudential Regulation Authority and
regulated by the Financial Conduct Authority and the Prudential Regulation Authority in the UK is acting as joint financial
adviser to SABMiller and no one else in connection with the matters set out in this announcement. In connection with such
matters, Morgan Stanley, its affiliates and their respective directors, officers, employees and agents will not regard any other
person as their client, nor will they be responsible to any other person for providing the protections afforded to their clients or
for providing advice in relation to the contents of this announcement or any other matter referred to herein.
Disclosure requirements of the Takeover Code (the “Code”)
Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree
company or of any securities exchange offeror (being any offeror other than an offeror in respect of which it has been
announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the
commencement of the offer period and, if later, following the announcement in which any securities exchange offeror is first
identified. An Opening Position Disclosure must contain details of the person’s interests and short positions in, and rights to
subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s). An
Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm (London time)
on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 pm
(London time) on the 10th business day following the announcement in which any securities exchange offeror is first
identified. Relevant persons who deal in the relevant securities of the offeree company or of a securities exchange offeror
prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.
Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of
the offeree company or of any securities exchange offeror must make a Dealing Disclosure if the person deals in any
relevant securities of the offeree company or of any securities exchange offeror. A Dealing Disclosure must contain details of
the dealing concerned and of the person’s interests and short positions in, and rights to subscribe for, any relevant securities
of each of (i) the offeree company and (ii) any securities exchange offeror, save to the extent that these details have
previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no
later than 3.30 pm (London time) on the business day following the date of the relevant dealing.
If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or
control an interest in relevant securities of an offeree company or a securities exchange offeror, they will be deemed to be a
single person for the purpose of Rule 8.3.
Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must
also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1,
8.2 and 8.4).
Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and
Dealing Disclosures must be made can be found in the Disclosure Table on the Takeover Panel’s website at
http://www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the offer period
commenced and when any offeror was first identified. If you are in any doubt as to whether you are required to make an
Opening Position Disclosure or a Dealing Disclosure, you should contact the Panel’s Market Surveillance Unit on +44 (0)20
7638 0129.
Publication on Website
SABMiller plc
A copy of this announcement will be made available on www.sabmiller.com by no later than 12 noon (London time) on 17
September 2015.
You may request a hard copy of this announcement by contacting SABMiller’s company secretary on +44 (0) 1483 264000.
You may also request that all future documents, announcements and information to be sent to you in relation to the offer
should be in hard copy form.
Sponsor: J.P. Morgan Equities South Africa (Pty) Ltd
SABMiller plc
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