Compass Group Extends DAKA Tender Offer And Sets Proposed Closing Date.CHARLOTTE, N.C.--(BUSINESS WIRE)--July 9, 1997--Compass Group PLC announced today that Compass Holdings Inc., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Compass Group The British company Compass Group LSE: CPG is one of the largest food service businesses in the world. It provides catering services to many types of institutions, for example schools, hospitals, companies and nursing homes. , is extending its offer to purchase all outstanding shares of common stock of DAKA International, Inc. (Nasdaq National Market: DKAI) for $7.50 per share in cash until midnight, New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. time, on July 14, 1997. The terms of the extended offer are identical to the terms of the original offer announced on May 29, 1997. Compass Group also noted that DAKA International has announced that DAKA International has moved the record date for the distribution of shares of Unique Casual Restaurants, Inc. ("UCRI UCRI Unión Cívica Radical Intransigente (Spanish: radical civil union) UCRI Upland Crops Research Institute (China) "), a recently formed corporation that will operate the restaurant business of DAKA International, from July 8, 1997 to July 11, 1997. As previously announced, immediately prior to the consummation CONSUMMATION. The completion of a thing; as the consummation of marriage; (q.v.) the consummation of a contract, and the like. 2. A contract is said to be consummated, when everything to be done in relation to it, has been accomplished. of Compass Holdings' tender offer, one share of common stock of UCRI is to be distributed for each DAKA International share. The tender offer has been extended to allow UCRI to complete the registration under the Securities Exchange Act of 1934 of its common stock, which is a condition to the tender offer. Compass Group currently expects that the tender offer will not be extended beyond July 14, 1997, although it is possible that another extension could occur if all of the conditions of the offer are not then satisfied. If all of the conditions of the offer are satisfied when the offer period expires on July 14, 1997, Compass Group expects that The Bank of New York The Bank of New York, abbrieviated to BNY, was a global financial services company that existed until its merger with the Mellon Financial Corporation on July 2, 2007.[1] The bank now continues under the new name of The Bank of New York Mellon Corporation. , the Depositary DEPOSITARY, contracts. He with whom a deposit is confided or made. 2. It is, the essence of the contract of deposits that it should be gratuitous on the part 'of the depositary. 9 M. R. 470. for the offer, will begin making payment on Thursday, July 17, 1997 for all DAKA International shares that have been validly tendered. As of 5:00 pm, New York City time, on Wednesday, July 9, 1997, approximately 9,816,349 shares of DAKA International common stock, representing approximately 88 percent of the shares then outstanding, had been validly tendered. For more information contact Ginger Smith, director of marketing and communications, Compass Group, USA Division at 704/329-4018 or Ron Morley, Compass Group PLC at (011) 44-193-257-3005. CONTACT: Compass Group PLC Ginger Smith, 704/329-4018 |
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