Ultra Electronics Holdings PLC Transaction in Own Shares (7544T)
July 05 2018 - 7:21AM
UK Regulatory
TIDMULE
RNS Number : 7544T
Ultra Electronics Holdings PLC
05 July 2018
5 July 2018
Ultra Electronics Holdings plc
("Ultra" or the "Group")
Purchase of shares during closed period
Ultra, the international defence, security, transport and energy
group, today announces that it has entered into an agreement with
Investec Bank plc ("Investec") under which it has issued an
irrevocable instruction to Investec to manage the Group's share
buyback programme, previously announced on 5 March 2018, during
Ultra's closed period prior to the release of Ultra's interim
results on 6 August 2018.
Investec will carry out the acquisition of Ultra's ordinary
shares independently of, and uninfluenced by, Ultra for subsequent
repurchase by the Group. Any share purchases effected pursuant to
the agreement will be subject to the terms of the agreement with
Investec and in any case will be effected in a manner consistent
with both the general authority vested in the Group to repurchase
shares and conducted within the parameters prescribed by [the
Market Abuse Regulation 596/2014, the Commission Delegated
Regulation (EU) 2016/1052 and] Chapter 12 of the United Kingdom
Listing Rules. Any purchase of ordinary shares by Ultra
contemplated by this announcement will be carried out on the London
Stock Exchange. As previously announced, the sole purpose of these
share purchases is to reduce the Group's share capital.
Enquiries:
Ultra Electronics Holdings plc
Cherise Trumper, Assistant Company Secretary 020 8813 4313
Cherise.trumper@ultra-electronics.com
Anant Prakash, General Counsel & Company Secretary 020 8813
4303
Anant.prakash@ultra-electronics.com
Further information about Ultra:
Ultra Electronics is an internationally successful defence,
security, transport and energy company with a long track record of
development and growth. Ultra and Ultra's subsidiaries and
subsidiary undertakings (the "Ultra Group") manage 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 Ultra 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 Ultra
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 Ultra
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 Ultra Group's three divisions, Ultra operates in the
following eight market segments:
Aerospace C2ISR
Land Nuclear
Communications Infrastructure
Maritime Underwater Warfare
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
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