RAY Raymarine

 

TIDMRAY 
 
RNS Number : 9791L 
Garmin Ltd 
14 May 2010 
 

FOR IMMEDIATE RELEASE 
14 May 2010 
 
 
 
                             GARMIN LTD. ("Garmin") 
                                  STATEMENT RE 
                          RAYMARINE PLC ("Raymarine") 
 
 
Further to Garmin's announcement this morning in relation to the possibility of 
Raymarine being placed into administration, Garmin announces it has had 
preliminary discussions with the potential administrator of Raymarine. 
Following these discussions, Garmin has made a proposal whereby, should 
Raymarine be placed into administration, it would acquire, conditionally only on 
the receipt of anti-trust approvals, Raymarine Holdings Limited (which 
represents the entire business operations of Raymarine and its subsidiary 
undertakings).   The consideration payable is likely to equate to approximately 
35 pence per Raymarine share (before the costs associated with an 
administration) in addition to providing for the repayment in full of the 
Raymarine group's banking facilities. 
 
At present, there can be no certainty as to whether an administrator will be 
appointed and, should one be appointed, whether Garmin's proposal will be 
accepted.  A further announcement will be made in due course. 
 
Contacts: 
 
Smithfield Communications (PR advisers to Garmin): 
-           Alex Simmons              tel. +44 20 7360 4900 
            Rupert Trefgarne 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 STRBSGDUDUBBGGS 
 

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