Announcement re Molson Coors Brewing Company Financial Disclosures
Molson Coors Brewing Company (Molson Coors) has filed with the Securities and Exchange Commission (the SEC) a Form 8-K/A (Amendment No. 1) (the 8-K/A) in relation to the completion of the MillerCoors LLC (MillerCoors) joint venture with SABMiller plc (SABMiller). The 8-K/A contains:
audited financial statements of Miller Brewing Company (Miller) for the year ended 31 March 2008 expressed in accordance with US GAAP;
unaudited pro forma combined financial information and explanatory notes reflecting the effect of the MillerCoors joint venture transaction on:
Molson Coors' historical financial position as at 30 March 2008, expressed in accordance with US GAAP; and
Molson Coors' historical results of operations for the 13 weeks ended 30 March 2008 and for the 52 weeks ended 30 December 2007, expressed in accordance with US GAAP.
Investors should note that there are a number of differences relating to the treatment of transactions and balances for US GAAP purposes as reported by Molson Coors in this filing compared to the treatment adopted by SABMiller under IFRS.
Investors should also note that the pro forma combined financial information is for illustrative purposes only, is derived from management accounts, has not been audited and relates to the impact of the joint venture on Molson Coors' historical financial results and position. The pro forma combined financial statements are not necessarily indicative of the combined results of operations or financial condition had the joint venture transaction between Miller and Coors Brewing Company (CBC) actually occurred as of these dates, are not intended to demonstrate the impact of the combination of the businesses on operational performance and do not purport to be indicative of the future financial position or operating results.
General Counsel & Group Company Secretary