Completion of Disposal of European Munitions

RNS Number : 1432I

Chemring Group PLC

27 May 2014

 



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION

27 May 2014

Chemring Group PLC

("Chemring", the "Company" or the "Group")

Completion of Disposal of European Munitions Business

Chemring announces that following receipt of appropriate regulatory clearance from the Italian Government in relation to the disposal of Simmel, as announced on 22 May 2014, the Company has now successfully completed the disposal of its European Munitions Business. The Disposal was announced on 24 April 2014.

For further information, contact:

Chemring Group PLC		01489 881880
Mark Papworth	Chief Executive
Steve Bowers	Finance Director
Rupert Pittman	Group Director of Communications and Investor Relations
Moelis & Company (Financial Adviser to Chemring)		020 7634 3500
Liam Beere
Edward Eppler
Investec Bank plc (Sponsor and Corporate Broker to Chemring)		020 7597 4000
Keith Anderson
Christopher Baird
MHP Communications (Financial PR Adviser to Chemring)		020 3128 8100
Andrew Jaques
John Olsen
James White

Unless otherwise defined, capitalised terms used in this announcement have the same meaning as those defined in the circular to shareholders of the Company dated 24 April 2014.

This announcement has been issued by, and is the sole responsibility of, Chemring.

Moelis & Company UK LLP ("Moelis & Company"), which is authorised and regulated by the Financial Conduct Authority ("FCA"), is acting exclusively for Chemring in relation to the Disposal. Moelis & Company is not acting for any other person and Moelis & Company will not be responsible to any person other than Chemring for providing the protections afforded to clients of Moelis & Company or for providing advice in relation to the Disposal or in relation to the contents of or any transaction or arrangement referred to in this announcement.

Investec Bank plc, which is authorised by the Prudential Regulation Authority ("PRA") and regulated by the FCA and the PRA, is acting exclusively for Chemring in relation to the Disposal. Investec is not acting for any other person and Investec will not be responsible to any person other than Chemring for providing the protections afforded to clients of Investec or for providing advice in relation to the Disposal or in relation to the contents of or any transaction or arrangement referred to in this announcement.

 

END

 

 

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