Completion of Sale of Defence

RNS Number : 4478B

Filtronic PLC

15 August 2008

 



Filtronic completes sale of Defence Electronics business

Filtronic PLC ('Filtronic') announces that it has completed today the sale of its Defence Electronics business to Teledyne Limited, a subsidiary of Teledyne Technologies Incorporated. 

The gross consideration received is a cash payment of £13.0 million (subject to the repayment by Filtronic of intra-group debt) and is subject to a working capital adjustment. 

Filtronic	Tel:
Charles Hindson, Chief Executive	07800 706 319
Hawkpoint Partners Limited	Tel: [phone]
(financial adviser to Filtronic)
Simon Eccles-Williams
Robin Stürken
Parkgreen Communications Ltd	Tel: [phone]
(PR adviser to Filtronic)	Mob: [phone]
Ben Knowles	[e-mail]

Important information: 

This announcement is made by Filtronic and is the sole responsibility of Filtronic. Filtronic is exclusively responsible for the contents of this announcement and neither Hawkpoint Partners Limited, Teledyne Technologies Incorporated, Teledyne Limited nor any person acting on Filtronic's behalf are responsible for or shall have any liability for any information, representation or statement relating to Filtronic or Teledyne contained in this announcement or any information previously published by or on behalf of Filtronic or otherwise. 

Hawkpoint Partners Limited, which is authorised and regulated by the Financial Services Authority, is acting for Filtronic and for no-one else in connection with the contents of this announcement and will not be responsible to anyone other than Filtronic for providing the protections afforded to customers of Hawkpoint Partners Limited or for affording advice in relation to the contents of this announcement or any matters referred to herein.

 

END

 

 

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