REG - Fisher (James) - Completion of RMSpumptools Disposal

James Fisher And SonsAnnouncement

08/07/2024 10:15

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RNS Number : 5013V  Fisher (James) & Sons plc  08 July 2024

 

Completion of RMSpumptools Disposal

 

James Fisher and Sons plc (FSJ.L) ("James Fisher" or the "Company" and,
together with its subsidiaries, the "Group"), is pleased to announce that it
has completed the sale of RMSpumptools Limited ("RMS") to ChampionX UK
Limited, a wholly-owned subsidiary of ChampionX Corporation ("ChampionX")
following the satisfaction of all applicable conditions, including receipt of
merger control clearance from the Saudi Arabia General Authority for
Competition (the "Disposal").

The Continuing Group continues to trade in line with its expectations and the
outlook for 2024 is unchanged.

Jean Vernet, Chief Executive Officer of James Fisher, said:

"The completion of the sale of RMS is a key inflection point for James
Fisher.  It significantly strengthens our balance sheet and will enable us to
continue to deliver the business turnaround, investing in our core portfolio
and the innovative new technologies that will deliver future growth.

"I would like to thank the RMS team for their contribution over the past 20
years and wish them every success in their new future with ChampionX."

 

 Enquiries
 James Fisher and Sons plc
 Jean Vernet, Karen Hayzen-Smith  +44 20 7614 9503

 FTI Consulting                   (PR Adviser)
 Richard Mountain, Susanne Yule   +44 20 3727 1340

 

Notes:

Any capitalized terms not expressly defined herein shall have the meanings
ascribed to them in the circular relating to the Disposal, dated 24 May 2024,
which is hereby incorporated by reference.

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