Ultra Electronics Holdings PLC Sparton shareholder approval (8786S)

TIDMULE

RNS Number : 8786S

Ultra Electronics Holdings PLC

06 October 2017

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO ANY JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO. PLEASE SEE THE IMPORTANT NOTICE WITHIN THIS ANNOUNCEMENT.

Ultra Electronics Holdings plc ("Ultra")

Offer for Sparton

Sparton shareholder approval

Ultra notes Sparton Corporation's announcement that its shareholders have approved the adoption of the previously announced Agreement and Plan of Merger dated 7 July 2017 by and among Sparton, Ultra and Ultra Electronics Aneira Inc. The transaction remains subject to certain other customary closing conditions. Ultra and Sparton continue to target completing the Transaction by 1 January 2018.

For further information contact:

 
 Ultra Electronics Holdings 
  plc                              [phone] 
 Rakesh Sharma, Chief Executive 
 Amitabh Sharma, Group Finance 
  Director 
  Susan McErlain, Corporate 
  Affairs Director                   [phone] 
 
 MHP Communications                [phone] 
 James White 
 

About Ultra

Ultra Electronics is an internationally successful defence, security, transport and energy company with a long track record of development and growth. Ultra and Ultra's subsidiaries and subsidiary undertakings (the "Ultra Group") manage a portfolio of specialist capabilities generating innovative solutions to customer needs. Ultra applies electronic and software technologies in demanding and critical environments ranging from military applications, through safety-critical devices in aircraft, to nuclear controls and sensor measurement. These capabilities have seen the Ultra Group's highly-differentiated products contributing to a large number of platforms and programmes.

Ultra has world-leading positions in many of its specialist capabilities and, as an independent, non-threatening partner, is able to support all of the main prime contractors in its sectors. As a result of such positioning, Ultra's systems, equipment or services are often mission or safety-critical to the successful operation of the platform to which they contribute. In turn, this mission-criticality secures Ultra's positions for the long-term which underpins the superior financial performance of the Ultra Group.

Ultra offers support to its customers through the design, delivery and support phases of a programme. Ultra businesses have a high degree of operational autonomy where the local management teams are empowered to devise and implement competitive strategies that reflect their expertise in their specific niches. The Ultra Group has a small head office and executive team that provide to the individual businesses the same agile, responsive support that they provide to customers, as well as formulating Ultra's overarching, corporate strategy.

Across the Ultra Group's three divisions, Ultra operates in the following eight market segments:

 
 -- Aerospace        -- C2ISR 
 -- Land             -- Nuclear 
 -- Communications   -- Infrastructure 
 -- Maritime         -- Underwater 
                      Warfare 
 

This announcement is for information purposes only and is not intended to and does not constitute, or form part of, any offer or invitation to purchase, subscribe for or otherwise acquire or dispose of, or any solicitation to purchase or subscribe for or otherwise acquire or dispose of, any securities in any jurisdiction. Persons needing advice should consult an independent financial adviser. The information contained in this announcement is not for release, publication or distribution to persons in any jurisdiction where to do so might constitute a violation of local securities laws or regulations. The information contained in this announcement is for background purposes only and does not purport to be full or complete. The information in this announcement is subject to change without notice.

This information is provided by RNS

The company news service from the London Stock Exchange

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October 06, 2017 02:00 ET (06:00 GMT)