19 June 2012
Cobham plc ('Cobham') announces that its Recommended Offer for Thrane & Thrane A/S ('Thrane & Thrane'), as amended on 3 May 2012 and 21 May 2012, has successfully completed following receipt of the required merger authority approvals.
As previously announced, the minimum acceptance condition of the Offer was satisfied on 8 May 2012 and Cobham has subsequently obtained acceptances for more than 90 per cent of the issued share capital of Thrane & Thrane. Cobham expects that settlement will be effected on 22 June 2012. However, special rules apply to Thrane & Thrane Warrants and Employee Shares with settlement expected at the latest by the end of July 2012.
Compulsory Redemption and Delisting
As per the Offer Document, Cobham now intends to proceed with the delisting of the Thrane & Thrane Shares from the NASDAQ OMX Copenhagen, with a view to completing the de-listing by the end of July 2012, and the Compulsory Redemption of minority shareholders, with a view to completing the process by mid December 2012. Further announcements in this regard will be made in due course.
Integration
Cobham announced as part of its Offer that management responsibility for its marine SATCOM business would transfer to the Thrane & Thrane management team in Denmark once 100% ownership of the company had been achieved. In addition, recognising the highly complementary nature of the acquisition, Cobham now also intends to transfer management responsibility for its land and airborne SATCOM business to the Thrane & Thrane management team by the end of 2012, creating a new Strategic Business Unit reporting to Richard Tyson, President of Cobham’s Aerospace and Security Division.
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Enquiries
| Cobham plc | |
| Warren Tucker, Chief Financial Officer | +44 (0)1202 882020 |
| Julian Wais, Director of Investor Relations | +44 (0)1202 857998 |
| Brunswick | |
| Michael Harrison/Will Carnwath | +44 (0)20 7404 5959 |
About Cobham
Cobham specialises in meeting the demand for data, connectivity and bandwidth in defence, security and commercial environments. Offering a technically diverse and innovative range of technologies and services, the Group protects lives and livelihoods, responding to customer needs with agility that differentiates it. The most important thing we build is trust. Employing more than 11,000 people on five continents, the Group has customers and partners in over 100 countries.
