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TTG - TT Electronics News Story

236.04p -2.0  -0.8%

Last Trade - 9:27am

Sector
Technology
Size
Mid Cap
Market Cap £389.2m
Enterprise Value £473.6m
Revenue £473.5m
Position in Universe 619th / 1816

TT Electronics PLC - Post Offer Intention Statements

Thu 18th April, 2019 9:28am
RNS Number : 6184W
TT Electronics PLC
18 April 2019
 

THE FOLLOWING ANNOUNCEMENT IS BEING MADE PURSUANT TO THE REQUIREMENTS OF RULE 19.6(C) OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE"), WHICH, INTER ALIA, REQUIRES A PARTY TO AN OFFER TO MAKE AN ANNOUNCEMENT AT THE END OF A PERIOD OF 12 MONTHS FROM THE DATE ON WHICH THE OFFER PERIOD ENDED CONFIRMING WHETHER IT HAS TAKEN, OR NOT TAKEN, THE COURSE OF ACTION SET OUT IN ITS STATED INTENTIONS.

 

18 April 2019

TT ELECTRONICS PLC

 

Rule 19.6(c) confirmation with respect to stated post-offer intentions with regard to Stadium Group plc

 

TT Electronics plc ("TT") announces that, further to the completion of its recommended cash acquisition of the entire issued and to be issued share capital of Stadium Group plc, which was effected by way of a scheme of arrangement under Part 26 of the Companies Act 2006 on 18 April 2018, it has duly confirmed in writing to The Panel on Takeovers and Mergers in accordance with the requirements of Rule 19.6(c) of the Code that TT has complied with its post-offer statements of intent made pursuant to Rule 24.2 of the Code, as originally detailed in the scheme document published on 15 March 2018, and as subsequently revised in TT's announcement of 28 January 2019.

 

For further information please contact:

 

TT Electronics plc

Tel: +44 (0)1932 825 300

Richard Tyson, Chief Executive Officer

Mark Hoad, Chief Financial Officer

Lynton Boardman, Group General Counsel/Company Secretary

Rothschild & Co (Financial Adviser)

Tel: +44 (0)20 7280 5000

Neil Thwaites

 

Numis (Corporate Broker)

Tel: +44 (0) 20 7260 1000

Luke Bordewich

 

Michael Burke

 

MHP (PR Adviser)

Tel: +44 (0)20 3128 8100

Tim Rowntree 

 

About TT Electronics

TT Electronics is a global provider of engineered electronics for performance critical applications.

The company operates in industries where there are structural growth drivers, working with market-leading customers in industrial, medical, aerospace and defence, and transportation sectors. Products designed and manufactured include sensors, power management devices and connectivity solutions. TT has design and manufacturing facilities in the UK, US, Sweden and Asia.

The company has three divisions. The Sensors and Specialist Components division works with customers to develop standard and customised solutions including sensors and power management devices. Our solutions improve the precision, speed and reliability of critical aspects of our customers' applications. The Power and Connectivity division designs and manufactures power application products and connectivity devices which enable the capture and wireless transfer of data. We collaborate with our customers to develop innovative solutions to optimise their electronic systems. The Global Manufacturing Solutions division provides manufacturing services and engineering solutions for our product divisions and to customers that often require a lower volume and higher mix of different products. We manufacture complex integrated product assemblies for our customers and provide engineering services including designing testing solutions and value-engineering.

 

Important notices relating to financial advisers

N M Rothschild & Sons Limited ("Rothschild & Co"), which is authorised and regulated by the FCA in the United Kingdom, is acting exclusively as financial adviser to TT and for no one else in connection with the matters referred to in this announcement and will not be responsible to anyone other than TT for providing the protections afforded to its clients or for providing advice in relation to the matters referred to in this announcement. Neither Rothschild & Co, nor any of its affiliates, owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Rothschild & Co in connection with this announcement, any statement contained herein or otherwise.

 

Numis Securities Ltd ("Numis"), which is authorised and regulated in the United Kingdom by the FCA, is acting solely for TT as broker and for no one else in relation to the content of this announcement and other matters described in this announcement, and will not be responsible to anyone other than TT for providing the protections afforded to the clients of Numis or for providing advice to any other person in relation to the content of this announcement or any other matters described in this announcement.


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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