Princes Group Regulatory News (PRN)

25 Nov 2005 07:28

Whitbread PLC25 November 2005 25 November 2005 Whitbread notes announcement of Britvic price range Whitbread PLC ( "Whitbread " ) notes today's announcement from Britvic plc ("Britvic") regarding the offer price range of its initial public offering (the "Global Offer") and the publication of its price range prospectus. Under the Global Offer, Whitbread, InterContinental Hotels Group and PernodRicard ( the "Selling Shareholders") will sell , on a pro rata basis , atotal of 153 million ordinary shares representing approximately 71% of the totalissued share capital of Britvic. In addition , the Selling Shareholders may sellup to 22.9 million further shares in Britvic at the offer price underover-allotment arrangements agreed with the underwriters. The number of sharessold under the Global Offer may be increased or decreased. At the announced price range of 210 pence to 250 pence per share and on thebasis of a 75% sell down of its 23.75% interest in Britvic, Whitbread wouldreceive gross proceeds of approximately £80.3million to £95.6million ( excludingany shares sold under over-allotment arrangements ). The offer price may be setwithin, above or below the offer price range. Full details of the Global Offercan be found in the Britvic announcement and price range prospectus publishedtoday. It is expected that the precise number of shares to be sold in the Global Offerand the offer price will be announced on or around 9 December 2005 and a furtherannouncement will be made when final proceeds have been determined. In addition to the proceeds of sale it is expected that Whitbread will receive aspecial dividend of £23.4million from Britvic on or about 29 November 2005. Thisis in addition to the special dividend of £44.9 million paid in May 2005. Enquiries: Whitbread PLC: Investor Queries: Christopher Rogers Tel : 01582 396335 Media Enquiries: Andrew Honnor Tulchan Tel: 020 7353 4200 Anna Glover Whitbread Tel : 01582 844244 The securities mentioned herein have not been , and will not be, registeredunder the U.S. Securities Act of 1933 ( the "Securities Act" ), and may not beoffered or sold in the United States ( as such term is defined in Regulation Sunder the Securities Act) unless they are registered under the Securities Act orpursuant to an exemption from registration. This information is provided by RNS The company news service from the London Stock Exchange