DP Eurasia NV - master franchisee of the Domino's Pizza brand in Turkey, Azerbaijan, and Georgia - Expects shares to be cancelled on February 28 following the agreed 110 pence per share bid by Jubilant Foodworks Netherlands BV. Explains Jubilant Foodworks then intends to convert DP Eurasia into a Dutch private company with limited liability and to ultimately acquire 100% of the DP Eurasia shares and/or the business and operations of DP Eurasia. DP Eurasia points out this will significantly reduce the liquidity and marketability for DP Eurasia shareholders, who have not accepted the bid, and their value may be affected as a consequence. Says offer has been accepted by 94% of shareholders to date. Notes remaining DP Eurasia shareholders will become minority investors in a majority controlled private company with limited liability and may therefore be unable to sell their DP Eurasia shares. Further DP Eurasia calls emergency general meeting for April 2. Jubilant Foodworks already holds the master franchise rights from Domino's Pizza to develop and operate its stores across India, Sri Lanka, Bangladesh and Nepal.
Current stock price: 112.00 pence, up 12% in London on Tuesday
12-month change: More than doubled from 49.05p
By Jeremy Cutler, Alliance News reporter
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