TWOD Taylor Woodrow

RNS Number:0784Z
Taylor Woodrow PLC
19 February 2001


Taylor Woodrow plc
Recommended Offer for Bryant Group plc
Offer declared unconditional as to acceptances


On 22nd January, 2001, Taylor Woodrow announced the terms of a recommended
Offer for the entire issued and to be issued share capital of Bryant to be
made by ABN AMRO Corporate Finance Limited on behalf of Taylor Woodrow.  On
12th February, 2001, Taylor Woodrow announced that its shareholders had
overwhelmingly approved the resolution relating to the Offer at the
Extraordinary General Meeting held on that day.

Pursuant to Rule 17 of the City Code, Taylor Woodrow announces that by 3.00
p.m. on Friday, 16th February, 2001, being the first closing date of the
Offer, valid acceptances of the Offer had been received in respect of
224,264,963 Bryant Shares, representing approximately 83.07 per cent. of the
current issued ordinary share capital of Bryant.  Accordingly, the Offer has
been declared unconditional as to acceptances and will remain open until
further notice.  Bryant Shareholders who have not yet accepted the Offer are
urged to do so without delay.

The Mix and Match Election shall remain open until further notice.

Bryant Shareholders (other than certain overseas persons) who validly accept
the Offer may continue to elect to receive Loan Notes under the Loan Note
Alternative as an alternative to all or part of the cash consideration which
would otherwise be receivable by them under the Offer, for so long as the
Offer remains open for acceptance.

Taylor Woodrow received irrevocable undertakings from the directors of Bryant
to accept the Offer in respect of 547,426 Bryant Shares, representing
approximately 0.2 per cent. of Bryant's existing issued share capital.  Valid
acceptances in respect of 366,612 of these shares have been received and are
included in the acceptances referred to above.  The further outstanding
180,814 shares will be assented to the Offer when the Offer has been declared
wholly unconditional.

The Taylor Woodrow Pension Fund, who are deemed to be acting in concert with
Taylor Woodrow, own 581,954 Bryant Shares.  A valid acceptance in respect of
all of these shares has been received and is included in the acceptances
referred to above.  Save for this shareholding, neither Taylor Woodrow nor any
person acting, or deemed to be acting, in concert with Taylor Woodrow held any
Bryant Shares or rights over Bryant Shares prior to the Offer period and
neither Taylor Woodrow nor any person acting, or deemed to be acting, in
concert with Taylor Woodrow has acquired or agreed to acquire any Bryant
Shares or rights over Bryant Shares since the Offer period commenced (other
than pursuant to acceptances of the Offer).

Terms defined in the Offer Document dated 26th January, 2001 have the same
meaning in this announcement save where the context requires otherwise.


Enquiries:

Taylor Woodrow   Tony McGarahan           01784 428767
                 Director of Corporate    (direct line)
                 Relations                07796 276342
                                          (mobile)
                                          
Citigate Dewe    Martin Jackson           020 7638 9571
Rogerson


The directors of Taylor Woodrow plc accept responsibility for the information
contained in this announcement.  To the best of the knowledge and belief of
the directors (who have taken reasonable care to ensure that such is the case)
the information contained in this announcement is in accordance with the facts
and does not omit anything likely to affect the import of such information.

ABN AMRO Corporate Finance Limited, which is regulated in the United Kingdom
by The Securities and Futures Authority Limited, is acting for Taylor Woodrow
and no-one else in connection with the Offer and will not be responsible to
anyone other than Taylor Woodrow for providing the protections afforded to
customers of ABN AMRO Corporate Finance Limited or for giving advice in
relation to the Offer.

The Offer is not being made directly or indirectly, in or into, or by use of
the mails of, or by any other means or instrumentality (including, without
limitation, telephonically or electronically) of interstate or foreign
commerce of, or any facility of a national securities exchange of, the United
States, Canada, Australia or Japan, and the Offer should not be accepted by
any such use, means, instrumentality or facility or from within the United
States, Canada, Australia or Japan.  Doing so may render invalid any purported
acceptance of the Offer.  Accordingly, copies of this announcement are not
being mailed or otherwise forwarded, distributed or sent in, into or from the
United States, Canada, Australia or Japan and persons receiving this
announcement, must not forward, distribute or send it in or into or from the
United States, Canada, Australia or Japan.

Neither the New Taylor Woodrow Shares nor the Loan Notes have been, nor will
they be, registered under the Securities Act or under the relevant securities
laws of any state or other jurisdiction of the United States, nor have
relevant clearances been, nor will they be, obtained from any securities
commission or similar authority of any province or territory of Canada, and no
prospectus has been, or will be, lodged with, or registered by, the Australian
Securities and Investments Commission or the Japanese Ministry of Finance and
neither the New Taylor Woodrow Shares nor the Loan Notes have been, nor will
they be, registered under or offered in compliance with applicable securities
laws of any state, province, territory or jurisdiction of Canada, Australia or
Japan.  Accordingly, unless an exemption under relevant securities law is
available, neither the New Taylor Woodrow Shares nor the Loan Notes may be
offered, sold, re-sold or delivered, directly or indirectly, in or into or
from the United States, Canada, Australia or Japan.

ABN AMRO Corporate Finance Limited has authorised the issue of this
announcement solely for the purposes of section 57 of the Financial Services
Act 1986.

This announcement does not constitute an offer or an invitation to purchase
any securities.

Taylor Woodrow (LSE:TWOD)
Historical Stock Chart
From Jun 2024 to Jul 2024

Taylor Woodrow (LSE:TWOD)
Historical Stock Chart
From Jul 2023 to Jul 2024