Thrane & Thrane notes the announcement made by Cobham plc today in which they confirm to have submitted a proposal to the Board of Directors of Thrane & Thrane in February 2012 with a view to making a recommended offer for the company and inform that they have decided to withdraw this proposal.
On February 27, 2012, Thrane & Thrane made a company announcement (announcement no. 14 – 2011/12) that it had received an unsolicited approach from a third party, who had expressed a non-binding interest in acquiring a majority interest in the company. Against this background, the Board of Directors of Thrane & Thrane unanimously decided to initiate a strategic review and consider all options to best serve the interest of the company and all its stakeholders.
Thrane & Thrane confirms that Cobham plc was the third party referred to in this announcement.
Thrane & Thrane will continue its strategic review process with the aim to announce the result hereof no later than May 14, 2012 as previously announced.
For further information, please contact
Waldemar Schmidt, Chairman of the Board
T.: +41 77 448 8424
About Thrane & Thrane
Thrane & Thrane is the world’s leading manufacturer of equipment and systems for global mobile satellite and radio communication. Since its incorporation in 1981, the company has achieved a leading position within global mobile satellite services based on the Inmarsat system. The company provides equipment for use everywhere – on land, at sea and in the air. The company's communication products are marketed worldwide under the brands Thrane & Thrane, EXPLORERTM, SAILOR® and AVIATOR through distributors and partners. The company’s shares are listed on NASDAQ OMX Copenhagen (THRAN). www.thrane.com.
