UK: W&DB breaks 90% Jennings holding

By just-drinks.com editorial team | 15 June 2005

Wolverhampton & Dudley Breweries has control of over 90% of Jennings Bros.' ordinary shares. The company said today (15 June) that, as at 3.00pm yesterday, valid acceptances have been received in respect of 9,120,415 Jennings ordinary shares, representing approximately 85.6% in value of the issued ordinary share capital of Jennings.

W&DB holds 6.37% of Jennings ordinary shares by virtue of market purchases, the company said. In addition, W&DB owns 0.09% of Jennings ordinary shares through a subsidiary.

The company also said that it will give notice today to those Jennings ordinary shareholders who have not accepted the offer, informing them that it will compulsorily acquire their Jennings shares by applying sections 428 to 430F of the Companies Act 1985.

The offers will remain open for acceptance until further notice, except that the Loan Note Alternative will close at 3.00pm on 30 June.

Sectors: Beer & cider