Shareholders agree to Hytera Sepura purchase
Shareholders have reached a majority decision to approve leading Chinese PMR (Professional Mobile Radio) solutions provider Hytera Communications Corporation Limited's offer to buy Sepura Plc.
16 December 2016 - Today, a company announcement was made to the London Stock Market, confirming that leading Chinese PMR (Professional Mobile Radio) solutions provider, Hytera, has made a binding offer to buy UK, Cambridge-based communications technology company Sepura Plc.
Hytera has confirmed to the Sepura board that the offer is to be solely in cash and the Sepura Board of Directors has made a recommendation that the offer be accepted.
The offer and its impact on all Sepura Plc stakeholders will now need to be carefully considered by Sepura shareholders before a final decision is made.
As part of this process, an information pack outlining the terms of the offer will be issued to Sepura Plc shareholders in January, ahead of a general meeting to be held in February.
Commenting on the offer, Alan Lovell, Chairman of Sepura, said:
"This transaction with Hytera recognises the underlying strengths of Sepura's technology and customer base. It will provide certainty for our stakeholders, 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."
He added, "In the meantime, it is business as usual for Sepura, and we will continue to provide our customers and partners with consistent, high-quality service and support."
Full details of the binding offer are available on the investor section of the Sepura website www.sepura.com/investors.