Watts Blake Bearne - Offer Acceptances/Extended

RNS No 1773r
WATTS,BLAKE,BEARNE AND COMPANY PLC
26 April 1999

                                 
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED
STATES, CANADA OR JAPAN
                                 
                       S.C.R. - SIBELCO S.A.
                      ----------------------
             UNCONDITIONAL RECOMMENDED CASH OFFERS FOR
            ------------------------------------------
             WATTS, BLAKE, BEARNE AND COMPANY, P.L.C.
             ----------------------------------------
        LEVEL OF ACCEPTANCES AND EXTENSION OF OFFER PERIOD
        ---------------------------------------------------
                                 
In relation to the unconditional recommended cash offers (the
'Offers') by S.C.R. - Sibelco S.A. ('Sibelco') for Watts, Blake,
Bearne and Company, P.L.C. ('Watts Blake Bearne') Sibelco
announces that:-

          Ordinary Offer
          --------------

          By 3.00 p.m. on Friday, 23 April, 1999, the fourth
          closing date of the Ordinary Offer, valid acceptances of
          the Ordinary Offer had been received by Sibelco in
          respect of a total of 9,532,525 Ordinary Shares,
          representing approximately 45.1 per cent. of Watts Blake
          Bearne's issued ordinary share capital.  These
          acceptances include valid acceptances from the
          Independent Directors of Watts Blake Bearne and certain
          other persons, entities and institutional shareholders,
          in accordance with the irrevocable undertakings to
          accept the Ordinary Offer given by them, in respect of
          an aggregate of 5,384,435 Ordinary Shares, representing
          approximately 25.5 per cent. of Watts Blake Bearne's
          issued ordinary share capital.

          Prior to commencement of the offer period on 18 January,
          1999, Sibelco was beneficially interested in 11,386,824
          Ordinary Shares, representing approximately 53.9 per
          cent. of the issued ordinary share capital of Watts
          Blake Bearne.  Since the commencement of the offer
          period Sibelco has acquired a further 6,500 Ordinary
          Shares, representing approximately 0.03 per cent. of
          Watts Blake Bearne's issued ordinary share capital.

          Accordingly, Sibelco now owns or has received
          acceptances of the Ordinary Offer in respect of a total
          of 20,925,849 Ordinary Shares, representing
          approximately 99.0 per cent. of Watts Blake Bearne's
          issued ordinary share capital.

          Preference Offer
          ----------------

          By 3.00 p.m. on Friday, 23 April, 1999, the fourth
          closing date of the Preference Offer, valid acceptances
          of the Preference Offer had been received by Sibelco in
          respect of a total of 143,819 Preference Shares,
          representing approximately 98.4 per cent. of Watts Blake
          Bearne's issued preference share capital.  These
          acceptances include valid acceptances from the
          Independent Directors of Watts Blake Bearne and certain
          other persons, entities and institutional shareholders,
          in accordance with the irrevocable undertakings to
          accept the Preference Offer given by them, in respect of
          an aggregate of 109,389 Preference Shares, representing
          approximately 74.9 per cent. of Watts Blake Bearne's
          issued preference share capital.


Save as disclosed above and in the Offer Document, neither
Sibelco, nor any persons acting or deemed to be acting in concert
with Sibelco, held any Watts Blake Bearne Shares (or rights over
such shares) on 15 January, 1999, the last dealing day prior to
the commencement of the offer period, nor have any such persons
acquired or agreed to acquire any Watts Blake Bearne Shares (or
rights over such shares) during the offer period other than by way
of acceptance of the Offers and no acceptances of the Offers have
been received from any person acting or deemed to be acting in
concert with Sibelco.

Both of the Offers have been extended and will remain open until
further notice.  Watts Blake Bearne Shareholders who wish to
accept either of the Offers and have not yet done so should return
their completed Forms of Acceptance as soon as possible.

Unless the context requires otherwise, the definitions contained
in the Offer Document dated 19 February, 1999, also apply in this
announcement.


Enquiries
---------

Lazard Brothers & Co., Limited          Tel: 0171 588 2721

John Dear
Etienne Bottari


The Offers are not being made, directly or indirectly, in or into
the United States, Canada or Japan.  Accordingly, copies of this
announcement are not being, and must not be, mailed or otherwise
distributed or sent in or into the United States, Canada or Japan.

Lazard Brothers, which is regulated in the United Kingdom by the
Securities and Futures Authority Limited, is acting for Sibelco
and for no one else in connection with the Offers and will not be
responsible to anyone other than Sibelco for providing the
protections afforded to customers of Lazard Brothers or for
providing advice in relation to the Offers.



END



OFFALLVDSFIVFAA
Wt Batterymetal (LSE:WATT)
過去株価チャート
から 10 2024 まで 11 2024