REG - TT Electronics PLC - Response to Volex no intention to bid statement

TT electronicsAnnouncement

12/12/2024 18:30

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RNS Number : 9417P  TT Electronics PLC  12 December 2024

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FOR IMMEDIATE RELEASE

12 December 2024

Response to Volex plc no intention to bid statement

TT Electronics plc ("TT Electronics" or the "Company") notes the announcement
made by Volex plc ("Volex") earlier today that it does not intend to make an
offer for TT Electronics. As a result of the announcement, Volex is bound by
the restrictions contained in Rule 2.8 of the City Code on Takeovers and
Mergers.

The Board continues to have confidence in the Company's medium-term financial
framework, including a 12% operating margin by 2026, which assumes a
reasonable recovery in the components market and is underpinned by the good
momentum in our European and Asian businesses, alongside the impact of Project
Dynamo. The outlook for the Company for the year ending 31 December 2024 is
unchanged.

TT Electronics' results for the year ending 31(st) December 2024 will be
announced in March 2025.

Enquiries

MHP
Communications
+44 (0)7817 458804

Tim Rowntree / Ollie
Hoare

 

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