Investor Relations

16 December 2016 

RECOMMENDED CASH OFFER
for
SEPURA PLC
by
Project Shortway Limited, an indirect wholly-owned subsidiary of
HYTERA COMMUNICATIONS CORPORATION LIMITED
to be effected
by way of a scheme of arrangement
under Part 26 of the Companies Act 2006


Summary


Commenting on the Acquisition, Alan Lovell, Chairman of Sepura, said:
"This transaction with Hytera recognises the underlying strengths of Sepura's technology and customer base despite the difficulties of the last 12 months. It will provide certainty for our shareholders, and secure the future of the business. There will be additional opportunities and benefits for the business and its employees as part of a larger group."


Commenting on the Acquisition, Chen Qingzhou, Chairman and Chief Executive Officer of Hytera, said:
"We are very pleased to reach this agreement with Sepura. The industry in which we operate is undergoing significant changes and Sepura represents an excellent strategic fit for Hytera and will allow us to expand the range of products and services we provide to our clients around the world."

This summary should be read in conjunction with, and is subject to, the full text of this Announcement and its Appendices. In particular, the Acquisition is subject to the Conditions and certain further terms set out in Appendix I and to the full terms and conditions which will be set out in the Scheme Document. Appendix II contains details of sources of information and bases of calculation contained in this Announcement. Appendix III contains certain details relating to the irrevocable undertakings and letter of intent referred to in this Announcement. Appendix IV contains definitions of certain terms used in this Announcement

 

Enquiries: 

Hytera
Nuo Xu (Chief Investment Officer)
Zhiyong Tian (Securities Affairs Representative)

+86 755 2697 2999

Smith Square Partners (Financial adviser to Hytera and Bidco)
Jonathan Coddington
Jade Jack

+44 (0) 20 3696 7260

Sepura
David Barrass (Interim Chief Executive Officer)
Richard Smith (Chief Financial Officer)
Peter Connor (Investor Relations)

+44 (0) 1223 876 000

Lazard (Financial adviser to Sepura)
Cyrus Kapadia
Nicholas Page

+44 (0) 20 7187 2000

Liberum (Corporate broker to Sepura)
Steve Pearce

+44 (0) 20 3100 2224

Instinctif Partners (Public relations adviser to Sepura)
Adrian Duffield
Kay Larsen
Chantal Woolcock

+44 (0) 20 7457 2020

Download full announcement  (PDF)