Share Purchase Agreement re LK Products Oy

Filtronic PLC 8 February 2000 FILTRONIC plc Filtronic plc announced today that it has consented to the waiver of certain of the terms of the Share Purchase Agreement relating to its acquisition of LK Products Oy dated 6 August 1998 ('The Agreement') from Nokia Mobile Phones Ltd ('Nokia'). Under the terms of the Agreement, 3,789,584 10p ordinary shares in Filtronic plc were issued to Nokia in part satisfaction of the purchase price payable. These shares were the subject of certain restrictions on sale as set out in the Agreement. Nokia has notified the Company that it holds 2,120,000 shares. Under the terms of the Agreement, 1,136,875 of these shares could not be sold prior to 28 February 2000 and 757,917 before 18 September 2000 without the Company's prior consent. Filtronic plc has consented to the waiver of these restrictions on sale. Filtronic plc Chairman, Professor J D Rhodes, CBE, OBE, FRS, FREng said 'We have received a formal request from Nokia to our consent to vary these restrictions on sale on the basis that Nokia feel that since the date of the acquisition, the business between the two companies has developed in a very satisfactory way to the benefit of both companies and that the original reasons for the sales restriction have disappeared. Nokia's view is that in the circumstances, its holding in Filtronic plc should be treated as an ordinary investment, free of sales restrictions and, having considered the matter the Board of Filtronic plc agrees'. Enquiries : C E Schofield, Director & Company Secretary, Filtronic plc Tel: 01274 231153 Mobile: 0370 376764

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Filtronic (FTC)
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