Trackwise Designs PLC Completion of Acquisition (4981I)

TIDMTWD

RNS Number : 4981I

Trackwise Designs PLC

02 April 2020

TRACKWISE DESIGNS PLC

("Trackwise", the "Company" or the "Group")

Completion of Acquisition

The Board of Trackwise Designs plc, provider of specialist products using printed circuit technology, is pleased to announce that further to the announcement on 13 March 2020 and the passing of all of the Resolutions put to Shareholders at the General Meeting held on 30 March 2020, the Acquisition of Stevenage Circuits Limited ("SCL") has now completed.

Philip Johnston, Chief Executive Officer of Trackwise, commented: "We are delighted to complete this transaction, which will be a key catalyst for Trackwise. We welcome the SCL team, and look forward to updating shareholders with the progress we make over the coming months."

Defined terms used in this announcement have the meaning (unless the context otherwise requires) as set out in the Circular (available at www.trackwise.co.uk).

Enquiries:

 
 Trackwise Designs plc                     [phone] 
 Philip Johnston, CEO                      www.trackwise.co.uk 
 Mark Hodgkins, CFO 
 
 finnCap Ltd                               [phone] 
 NOMAD and Broker 
 Ed Frisby / Matthew Radley - Corporate 
  Finance 
  Andrew Burdis / Manasa Patil - ECM 
 
 Alma PR                                   [phone] 
 Financial PR and IR 
 Caroline Forde / Josh Royston / Kieran 
  Breheny 
 

Notes to editors

Trackwise is a UK-based manufacturer of specialist products using printed circuit technology.

The full suite includes: Improved Harness Technology TM ("IHT"), Microwave and RF, Short Flex, Flex Rigid and Rigid multilayer products.

IHT uses a proprietary, patented process that Trackwise has developed to manufacture multilayer flexible printed circuits of unlimited length. While the technology has many applications, the directors expect that one of its primary uses will be to replace traditional wire harness in a variety of industries.

The Company manufactures on two sites, located in Tewkesbury and Stevenage (following the acquisition of Stevenage Circuits Ltd in April 2020). It serves customers in Europe, North America, Asia and Australia.

Trackwise Designs plc was admitted to trading on AIM in 2018 with the ticker TWD. For additional information please visit www.trackwise.co.uk.

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April 02, 2020 02:00 ET (06:00 GMT)