HANSON STATEMENT ON BEAZER PLC PURCHASE
HANSON STATEMENT ON BEAZER PLC PURCHASE NEW YORK, Nov. 1 /PRNewswire/ -- The board of HB Acquisitions PLC
("HB"), an indirect wholly owned subsidiary of Hanson PLC (NYSE: HAN), announced that, in accordance with the terms of the Offer to Purchase/Prospectus dated Oct. 18, 1991, relating to the Recommended Offer ("Offer") for all outstanding Ordinary Shares and all outstanding American Depositary Shares Evidenced by American Depositary Receipts of Beazer PLC, any adjustment to the terms of its Offer pursuant to the Warrant Adjustment Formula (as therein described) will be wholly satisfied in new Hanson Warrants.
HB has the right to change its election as to how to satisfy any such adjustment. Although it is not anticipated that HB will do so were it subsequently to choose to satisfy any such adjustment in cash rather than in new Hanson Warrants, or a mixture of the two, this will be announced publicly and the Offer will not be capable of being declared unconditional for 10 business days after the date of the announcement thereof. This announcement supplements the Offer to Purchase/Prospectus dated Oct. 18, 1991. -0- 11/1/91 /CONTACT: Robert M. Brier of Hanson Industries, 212-826-0098/ (HAN) CO: Hanson PLC; Beazer PLC ST: New York IN: SU: SH -- NY015 -- 0107 11/01/91 09:54 EST
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|Date:||Nov 1, 1991|
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