CML Microsystems PLC Acquisition (9043E)
March 03 2020 - 10:49AM
UK Regulatory
TIDMCML
RNS Number : 9043E
CML Microsystems PLC
03 March 2020
CML Microsystems Plc
(The "CML" or the "Group")
Acquisition of Plextek RFI Ltd
CML Microsystems Plc, which designs, manufactures and markets
semiconductors, primarily for global communication and solid state
storage markets, announces that it has acquired 100% of the share
capital of UK-based Plextek RFI Ltd ("PRFI").
PRFI is part of the Plextek Group of companies and is a UK based
design house specialising in the design and development of RF,
Microwave and Millimetre-wave (mm-wave) ICs and modules. The team
has completed in excess of 100 IC designs, operating at radio
frequencies up to 100GHz and are a third-party approved design
house for a number of leading semiconductor companies globally.
Design experience includes front end ICs for mm-wave 5G, broadband
Monolithic Microwave ICs (MMICs), receiver, transmitter and power
amplifier (PA) ICs for microwave links and GaN PAs for both
commercial and defence applications. PRFI is located on the
Essex-Cambridge borders in Great Chesterford.
The acquisition has been funded from a mixture of existing cash
resources and shares from treasury.
"PRFI's dedicated and experienced team enhances our strategy for
expansion within Communications markets. Their design expertise
expands upon the Group's existing skills and provides a new
independent services and consulting income stream for CML" said
Chris Gurry, CML's Group Managing Director."
Total voting rights
In conformity with the Financial Conduct Authority's ("FCA")
Disclosure and Transparency Rules, CML Microsystems Plc hereby
notifies the market that the Company's issued share capital
comprises 17,177,652 ordinary shares of 5p each ("Ordinary
Shares"), of which 23,467 Ordinary Shares are held in treasury.
Accordingly, the total number of voting rights in the Company is
17,154,185.
This figure may be used by shareholders as the denominator for
the calculation by which they will determine if they are required
to notify their interest in, or a change to their interest in, the
Company under the FCA's Disclosure and Transparency Rules.
The information contained within this announcement is deemed by
the Group to constitute inside information under the Market Abuse
Regulations (EU) No. 596/2014.
CML Microsystems Plc www.cmlmicroplc.com
Nigel Clark, Group Chairman & Tel: +44 (0)1621 875 500
Financial Director
Chris Gurry, Group Managing Director
Shore Capital Tel: +44(0)20 7408 4090
Advisory
Edward Mansfield
James Thomas
Broking
Fiona Conroy
SP Angel Corporate Finance LLP Tel: +44(0)203 463 2260
Jeff Keating
Alma PR Tel: +44 (0)20 3405
Josh Royston 0212
Caroline Forde
About CML Microsystems PLC
CML designs and develops semiconductors for the industrial
storage and communications markets. The Group utilises a
combination of in-house and outsourced manufacturing and has
trading operations in Europe, the Far East and USA. CML targets
niche markets with strong growth profiles and high barriers to
entry. It has secured a diverse, blue chip customer base, including
some of the world's leading telecoms equipment providers and
industrial product manufacturers
The spread of its customers and products largely protects the
business from the cyclicality usually associated with the
semiconductor industry. Growth in its end markets is being driven
by factors such as the ever increasing trend towards solid state
storage devices in the commercial and industrial sectors, the
upgrading of telecoms infrastructure around the world and the
growing prevalence of private commercial communications networks
for voice and/or data communications linked to the industrial
internet of things (IIoT).
The Group is cash-generative, has a net cash position and is
dividend paying.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
ACQUOSNRRBUORAR
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