Ultra Electronics Holdings PLC Ultra completes divestment of ID cards business (9539H)

TIDMULE

RNS Number : 9539H

Ultra Electronics Holdings PLC

24 August 2016

Embargoed until 0700 24 August 2016

Ultra Electronics Holdings plc

("Ultra" or "the Group")

Ultra completes divestment of ID cards business to LDC

Further to the announcement made on 27 May 2016, Ultra is pleased to confirm that the divestment of its global ID cards business to private equity firm LDC, for a cash consideration of GBP22m, has now received US regulatory approval and the transaction has been completed.

Following the divestment Ultra Electronics ID will operate as Magicard Ltd.

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Enquiries:

Rakesh Sharma, Chief Executive 020 8813 4307

Amitabh Sharma, Group Finance Director

Susan McErlain, Corporate Affairs Director 07836 522 722

James White, MHP Communications 020 3128 8756

www.ultra-electronics.com

Further information about Ultra:

Ultra Electronics is an internationally successful defence, security, transport and energy company with a long, consistent track record of development and growth. The Group manages 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 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 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 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 Group's three divisions, Ultra operates in the following eight market segments:

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

This information is provided by RNS

The company news service from the London Stock Exchange

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August 24, 2016 02:00 ET (06:00 GMT)