BRISTOL, U.K. , Oct. 9, 2003 (PRIMEZONE) -- Allied Domecq PLC (Allied Domecq) (NYSE:AED) (Other OTC:ALDQF) today announces that it has declared its Offer for Peter Lehmann Wines Limited (PLW), through its wholly owned subsidiary Allied Domecq Wines Australia Pty. Ltd., free of all remaining conditions. Allied Domecq will also accelerate dispatch of payment to shareholders to within five days after acceptance.
This decision has been made following completion of Allied Domecq's review of the PLW Target's Statement and final due diligence.
The Allied Domecq Offer of $4.00 per PLW share represents a 15 cents per share (3.9%) premium to the $3.85 per share offer by Hess Group Australia Pty Ltd.
Commenting on developments, Allied Domecq Chief Executive Philip Bowman said:
"PLW shareholders can now compare two unconditional offers, which both provide for payment within five days of acceptance. At $4.00 per PLW share, the Allied Domecq offer is 3.9% higher than the Hess offer and guarantees shareholders an extra 15 cents per share.
"We look forward to receiving the endorsement of the PLW Independent Directors and encourage PLW shareholders to accept our Offer without delay."
Further information
Summary information on Allied Domecq can be obtained from its website, www.allieddomecq.com. Original high-resolution photographs are available to the media free of charge at www.newscast.co.uk +44 207 608 1000.
PLW Shareholder Inquiries
Inquiries from Peter Lehmann Wines Limited shareholders will not be taken on the above numbers. All such inquiries should be directed to the Peter Lehmann Wines Offer Information Line on (Australia) 1300 766 699 or (outside Australia) +61 2 9240 7458. For legal reasons calls to these numbers will be recorded.
This information is provided by RNS
The company news service from the London Stock Exchange