Lascelles deMercado Receives Official Offer From Campari

The Board of Directors of Lascelles deMercado & Co. Limited (LAS) has advised that it has received a signed Take-Over Bid Circular from Campari Espana SL stating its intent to acquire 100% of the ordinary shares and 100% of each of the 6% and 15% preference shares in LAS for the price of US$4.32 per ordinary share, US$0.57 for each 6% preference share and US$0.57 for each 15% preference share. The offer is stated to open on November 9, 2012 and will close on November 30, 2012. The Board of LAS indicated that it is evaluating the offer together with its independent professional advisors and will issue a Directors’ Circular to all shareholders containing its recommendation regarding the offer by Campari, in accordance with the law.