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3T Communications AG - Deferred consideration

11 Jul 2013 07:00

RNS Number : 0621J
Sepura PLC
11 July 2013
 



Sepura PLC

 

 

("Sepura" or the "Company")

 

 

3T Communications AG - Deferred consideration

 

 

Sepura, a global leader in the design, development and supply of TETRA digital communications solutions, refers to the Company's announcement of 16 May 2012 in relation to the acquisition of 3T Communications AG ("3T").

 

As previously announced, the Company acquired 3T for initial cash consideration of €8 million, with additional contingent consideration of up to €5 million payable if the acquired business achieved cash EBITDA targets over an earn-out period.

 

These targets have now been met in full. Accordingly, the Company has paid €4 million of the deferred consideration in cash, and the final €1m will be settled by the issue of 1,301,334 new ordinary shares of £0.0005 each in the capital of the Company, with the number of shares to be issued based on the share price at completion of 61.5p.

 

Application has been made to the UK Listing Authority for admission to the Official List and to the London Stock Exchange for admission to trading of the new ordinary shares which is expected to take place at 8.00 am on 16 July 2013 ("Admission").

 

Following Admission, the Company will have 138,619,914 ordinary shares in issue, of which 131,983 are held in Treasury and the total number of voting rights in the Company will therefore be 137,186,597. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in the Company under the FCA's Disclosure and Transparency Rules.

 

 

 

- Ends -

 

For further information please contact:

 

Sepura plc

Peter Connor, Investor Relations

 

+44 (0) 12 2387 6000

Pelham Bell Pottinger

Olly Scott

Charles Goodwin

 

+44 (0) 20 7861 3232

 

 

Notes to editors

 

About Sepura

 

Sepura is a global leader in the design, manufacture and supply of TETRA (TErrestrial Trunked RAdio) products and systems developed specifically for critical communications applications. The Group's customers span the emergency services, transport, utilities, extractive industries and other commercial sectors. Sepura is also a market leader in the supply of surveillance and other specialist TETRA radios and accessories.

 

The Company offers one of the broadest ranges of TETRA products available and is often first to deliver innovative products and features to its markets. The recent acquisition of specialist TETRA infrastructure systems supplier, 3T, enhances Sepura's capability through the addition of powerful and easy-to-deploy systems.

 

Founded in the UK in 2002, Sepura has expanded rapidly across the world and is now a market leader in over 30 countries, with a network of regional partners that sell, and provide local support for, its market-leading products.

 

Based in Cambridge, England and with over 300 employees, Sepura was admitted to the Official List of the London Stock Exchange on 3 August 2007.

 

www.sepura.com

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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