Spirent PLC
19 December 2000
COMPLETION OF THE ACQUISITION OF
HEKIMIAN LABORATORIES, INC
Spirent plc ('Spirent'), the international network technology
company, today announces the successful completion
of its acquisition of Hekimian Laboratories, Inc. from the
Axel Johnson Group.
The total consideration of US$1,575.0 million has been
satisfied by a cash payment of US$712.3 million (financed
from the net proceeds of Spirent's recently concluded 5 for
24 rights issue) and the issue of 108,398,257 Spirent new
ordinary shares (representing 11.7 per cent of Spirent's
enlarged issued share capital) to Lexa BV, which is wholly
owned by the Axel Johnson Group. Admission of these shares
to the Official List is expected to become effective on
Tuesday 19 December 2000.
Spirent is pleased to confirm that it has appointed Goran
Ennerfelt, President and Chief Executive Officer of Axel
Johnson AB, as a non-executive director of Spirent with
immediate effect. Mr Ennerfelt is married to Antonia Ax:son
Johnson, the Chairman and fourth generation owner of the
Axel Johnson Group.
Nicholas Brookes, Chief Executive of Spirent, commented:
'The completion of our acquisition of Hekimian is an
important milestone in the strategic development of Spirent.
The outstanding strategic fit of our telecoms test business
with Hekimian's strengths in network monitoring will make
Spirent a world leader in service assurance systems for next
generation networks. I look forward to the future of the
enlarged group with confidence.'
Enquiries:
Nicholas Brookes, Spirent plc +44 (0) 1293 767676
Chief Executive
Eric Hutchinson,
Finance Director
Tim Hancock Rothschild +44 (0) 20 7280 5000
William Spurgin
David Smith Schroder Salomon +44 (0) 20 7986 4000
Philip Drinkall Smith Barney
Jon Coles Brunswick +44 (0) 20 7404 5959
Rupert Young
Background note
Spirent plc is an international network technology company
providing state-of-the-art solutions with a focus on high
growth, high margin activities. It is a world leader in
advanced telecommunications testing systems and network
products.
Spirent is a FTSE 100 company quoted on the London Stock
Exchange (ticker SPT) in the Information Technology Hardware
sector. The Company operates a Level 1 American Depository
Receipt programme (ticker: SPNUY; CUSIP number: 84856M100).
For information, contact Brian Heston, The Bank of New York,
American Depositary Receipts, 101 Barclay St, 22 West, New
York, NY10286. Phone: (212) 815 3938, Fax: (212) 571 3050.
e-mail: bheston@bankofny.com web site: www.adrbny.com.
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