Circ re disposal of Akron Brass

PREMIER FARNELL PLC - Circ re disposal of Akron Brass

PR Newswire

London, February 29

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

Premier Farnell PLC (the "Company")

 29 February 2016

Publication of Circular and Notice of General Meeting relating to the proposed disposal of Akron Brass Holding Corp.

On 5 February 2016, the Company announced that it had entered into a conditional agreement with respect to the sale of Akron Brass Holding Corp. (“Akron Brass”) to IDEX Corporation for cash consideration of US$224.2 million (the “Disposal”).

The Company is pleased to announce that a circular to shareholders relating to the Disposal (the "Circular") has been published today. The Circular will be sent to the Company's shareholders shortly and is available for viewing on the Company's website (http://www.premierfarnell.com/investors/akron-brass-disposal).

The Circular, which has been approved by the UK Listing Authority, contains a notice convening a general meeting of the Company to be held at the offices of Allen & Overy LLP at One Bishops Square, London, E1 6AD at 9:30 a.m. on 16 March 2016 (the "General Meeting").

Completion of the Disposal remains conditional on, amongst other things, the approval of the Company's shareholders at the General Meeting. Further details of the Disposal are set out in the Circular, which includes the Board's unanimous recommendation that shareholders vote in favour of the Disposal. Completion of the Disposal is expected by the end of March 2016.

In accordance with Listing Rule 9.6.1R, a copy of the Circular and the accompanying form of proxy have been submitted to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/NSM. In addition, the Circular will be available for inspection during normal business hours on any weekday (public holidays excepted) at the registered offices of the Company at Farnell House, Forge Lane, Leeds, LS12 2NE and at the offices of Allen & Overy LLP at One Bishops Square, London, E1 6AD from the date of the Circular up to and including the date of the General Meeting and for the duration of the General Meeting.

For further information, please contact:

Cautionary statement

Lazard & Co. Limited (Lazard), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively as lead financial adviser to the Company and for no one else in connection with the matters described in this announcement and will not regard any other person (whether or not a recipient of this announcement) as a client in connection with the matters described in this announcement and is not, and will not be, responsible to anyone other than the Company for providing the protections afforded to clients of Lazard nor for providing advice in connection with the matters set out in this announcement or any transaction, arrangement or other matter referred to in this announcement.

Barclays Bank PLC (Barclays), which is authorised by the Prudential Regulation Authority and regulated in the United Kingdom by the Financial Conduct Authority and the Prudential Regulation Authority, is acting exclusively for the Company and for no one else in connection with the matters described in this announcement and will not regard any other person (whether or not a recipient of this announcement) as a client in connection with the matters described in this announcement and is not, and will not be, responsible to anyone other than the Company for providing the protections afforded to clients of Barclays nor for providing advice in connection with the matters set out in this announcement or any transaction, arrangement or other matter referred to in this announcement.

Other important notices

The release, publication or distribution of this announcement in jurisdictions other than the United Kingdom may be restricted by law and therefore any persons who are subject to the laws of any jurisdiction other than the United Kingdom should inform themselves about, and observe, any applicable requirements. This announcement has been prepared for the purposes of complying with the UK Listing Rules and the information disclosed may not be the same as that which would have been disclosed if this announcement had been prepared in accordance with laws and regulations of any jurisdiction outside of England.

This announcement is not intended to, and does not constitute, or form part of, any offer to sell or an invitation to purchase or subscribe for any securities or a solicitation of any vote or approval in any jurisdiction. Shareholders are advised to read carefully the formal documentation in relation to the Disposal once it has been despatched. Any response to the proposals should be made only on the basis of the information in the formal documentation to follow.

END