FILTRONIC PLC
24 September 1999
Filtronic plc ('Filtronic')
The Executive Chairman made the following statement at the Annual General
Meeting of Filtronic today:
'On 2 September 1999, the Company announced a 1 for 6 Rights Issue to raise
£71.2 million, net of expenses, to fund expansion related to establishing an
advanced 6 inch gallium arsenide compound semiconductor fabrication facility
at Newton Aycliffe, County Durham. I am delighted to report that the Rights
Issue has been well received by institutional shareholders. The work necessary
to commission the Newton Aycliffe facility is underway and the recruitment of
senior staff to co-ordinate and manage the project is continuing.
'The Rights Issue does not close until 13 October 1999. At the Extraordinary
General Meeting held on 20 September 1999 resolutions were passed increasing
the authorised share capital and authorising the directors to allot shares
under the Rights Issue.
'As far as the Company's trading is concerned, I can add no more to my
statement on 2 August 1999 and that contained in the Rights Issue prospectus
dated 2 September 1999. In summary, the Board remains confident in the
Company's ability to achieve further significant growth'.
Professor J. David Rhodes OBE FREng FRS
Enquiries
Filtronic plc
Professor J. David Rhodes 01274 530622
John Samuel
WestLB Panmure Limited
Tim Linacre 0171 638 4010
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