Premier Farnell publication of Scheme document
On 14th June 2016 Datwyler Technical Components UK Limited, a wholly owned subsidiary of Dätwyler Holding AG (“Datwyler”), announced the proposed terms of a recommended cash offer (the “Offer”) for Premier Farnell plc ("Premier Farnell") to be effected by way of a scheme of arrangement (the “Scheme”) under Part 26 of the U.K. Companies Act 2006. The board of Premier Farnell has today published a Court-sanctioned scheme circular (the “Scheme Circular”) in relation to the Offer.
The Scheme Circular sets out, amongst other things, a letter from the Chairman of Premier Farnell to its shareholders, the full terms and conditions of the Offer, an explanatory statement, notices of the required meetings, an expected timetable of principal events and details of the actions to be taken by Premier Farnell shareholders.
The Scheme requires the approval of Premier Farnell shareholders at a Court meeting and the passing of a special resolution at a general meeting of Premier Farnell shareholders, and then the subsequent approval of the Court.
Subject to approval at the relevant meetings, Court approval and the satisfaction or waiver of the other conditions set out in the Scheme Circular (including receipt of certain anti-trust approvals), the Scheme is expected to become effective on or around 26 August 2016 to 1 September 2016, with the cash consideration to be sent by Datwyler to Premier Farnell shareholders within 14 days of such date. The expected timetable of principal events is set out in the Scheme Circular.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION
Datwyler Group (www.datwyler.com)
The Datwyler Group is a focused industrial supplier with leading positions in global and regional market segments. With its technological leadership and customised solutions, the Group delivers added value to customers in the markets served. Datwyler concentrates on markets that offer opportunities to create more value and sustain profitable growth. The Technical Components division is one of Europe’s foremost high-service distributors of electronic, ICT and automation components and accessories. The Sealing Solutions division is a leading supplier of custom sealing solutions to global market segments, such as the health care, automotive, civil engineering and consumer goods industries. With a total of more than 50 operating companies, sales in over 100 countries and some 7,000 employees, the Datwyler Group reported annual net revenue of some CHF1,165 million for the financial year ending 31 December 2015. The Group has been listed on the SIX Swiss Exchange since 1986 (security number 3048677).
Datwyler: +41 41 875 19 00
Guido Unternährer, Head of Corporate Communications
UBS Investment Bank (Financial Adviser): +44 (0) 20 7567 8000
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Financial Calendar of Datwyler Interim Report 2016: 12 August 2016