REG - Volex PLC - Deferred Consideration for Acquisition

VolexAnnouncement

03/01/2025 07:00

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RNS Number : 9954R  Volex PLC  03 January 2025

3 January 2025

LEI: 213800HBLQNH5FXXGE63

Volex plc

("Volex", or the "Company")

Deferred Consideration for Murat Ticaret Acquisition

Volex (AIM: VLX), the specialist integrated manufacturer of critical power and
data transmission products, is pleased to announce that, further to the
announcements dated 22 June 2023 and 1 September 2023 regarding the
acquisition of Murat Ticaret Kablo Sanayi A.Ş. ("Murat Ticaret") (the
"Acquisition"), Murat Ticaret has exceeded the EBITDA targets set out under
the acquisition agreement for the first 12 months immediately following the
Acquisition.

As a result, the first tranche of deferred consideration for the Acquisition
is now due to four former owners of Murat Ticaret. In accordance with the
terms of the acquisition agreement, the Company will satisfy 50% of the
deferred consideration in ordinary shares, such that the deferred
consideration comprises:

·    €10m of cash, in aggregate; and

·    2,878,830 ordinary shares of 25 pence each in the capital of Volex
(the "New Shares").

Application has been made to London Stock Exchange plc for the New Shares to
be admitted to trading on AIM ("Admission"). It is expected that Admission
will become effective and that dealings will commence at 8.00 a.m. on 8
January 2025.

Following Admission, the issued share capital of Volex will comprise
184,529,938 Ordinary Shares of 25 pence each, with one vote per share. There
are no shares held in treasury. Therefore, following Admission, this figure of
184,529,938 may be used by shareholders in the Company as the denominator for
the calculations by which they will determine if they are required to notify
their interest in, or a change to their interest in, the share capital of the
Company.

The announcement dated 22 June 2023 sets out further details on the remainder
of the deferred consideration in respect of the Acquisition.

For further information please contact:

 Volex plc                                       +44 (0) 12 5644 2570

 Lord Rothschild, Executive Chairman             investor.relations@volex.com (mailto:investor.relations@volex.com)

 Jon Boaden, Chief Financial Officer
 Peel Hunt LLP - Nominated Adviser & Broker      +44 (0)20 7418 8900

 Ed Allsopp

 Dom Convey

 Tom Graham
 Sodali & Co (Media Enquiries)                   +44 (0)78 5543 2699

 James White

 Nicholas Johnson

 

About Volex

Volex plc (AIM:VLX) is a driving force in integrated manufacturing for
mission-critical applications and a global leader in power and data
connectivity solutions. Our diverse operations support international blue-chip
customers in five key sectors: Electric Vehicles, Consumer Electricals,
Medical, Complex Industrial Technology and Off-Highway. Headquartered in the
UK, we orchestrate operations across 28 advanced manufacturing facilities,
uniting 14,000 dynamic individuals from 25 different nations. Our
extraordinary products find their way to market through our localised sales
teams and authorised distributor partners, supporting Original Equipment
Manufacturers and Electronic Manufacturing Services companies across the
globe. In a world that grows more digitally complex by the day, customers
trust us to deliver power and connectivity that drives everything from
household essentials to life-saving medical equipment. Learn more
at www.volex.com (http://www.volex.com/) .

 

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