F&N breathes sigh of relief with Heineken offer extension

The deadline for acceptance of Heineken offer was moved to 3 August.

In a Fraser and Neave release, it has reached a mutual agreement with Heineken to extend the deadline for acceptance of the Heineken Offer by one week from 27 July 2012. "Shareholders should note that, as at the time of this announcement, there is no agreement between the parties on the terms of the Heineken Offer and there is therefore no certainty that any transaction or agreement will be entered into. The Company will update shareholders in due course and will make appropriate announcements at the relevant time."

"The Company notes that there have been media reports in relation to other possible bids for its interests in APBL. The Company wishes to clarify that, save for the Heineken Offer, the Company has not received any other proposal for its direct and indirect interests in APBL as at the time of this announcement."

"In the meantime, shareholders are advised to refrain from taking any action in relation to their shares of the Company which may be prejudicial to their interests, and to exercise caution when dealing in the shares of the Company."