Final Adjustment of Acquisition of Isotek

RNS Number : 8067W

Filtronic PLC

03 February 2012

 



03 February 2012

Filtronic plc ("Filtronic")

Final Adjustment of Acquisition of Isotek

Following completion of the acquisition of Isotek (Holdings) Limited ("Isotek") in November 2010 and agreement on the completion statements for Isotek with the resulting working capital adjustment announced on 2 August 2011, Filtronic announces a final adjustment since agreed with the vendors of Isotek.

As a result, in accordance with the terms of the acquisition, a total of 412,051 existing ordinary shares of Filtronic have been sold by Filtronic on behalf of the vendors of Isotek. As vendors of part of Isotek, Alan Needle and Chris Mobbs are therefore treated as having disposed of, respectively, 67,249 and 83,473 shares in Filtronic, in both cases at 24.5p per share.

As before, the net proceeds of the sale will be retained by Filtronic.

Enquiries: 

Filtronic plc	01325 301111
Hemant Mardia, CEO
Mike Brennan, CFO
Panmure Gordon (UK) Limited	020 7459 3600
Dominic Morley
Brett Jacobs
Walbrook PR Limited	020 7933 8780
Fiona Henson	[e-mail]
Bob Huxford	[e-mail]

 

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