15th Feb 2006 14:42
Spirent PLC15 February 2006 SPIRENT PLC COMPLETION OF DISPOSAL OF THE HELLERMANNTYTON DIVISION FOR £288.9 MILLION London, UK - Wednesday, 15 February 2006: Spirent plc (LSE: SPT; NYSE: SPM), aleading communications technology company, today announces that it has completedthe sale of its Network Products group, the HellermannTyton division, to fundscontrolled by Doughty Hanson & Co Limited, for a consideration of approximately£288.9 million (at a cash free/debt free equivalent value). Enquiries Anders Gustafsson, Chief Executive Spirent plc +44 (0)1293 767676Eric Hutchinson, Finance Director Reg Hoare Smithfield +44 (0)20 7360 4900Katie Hunt Tim Shacklock Gleacher Shacklock LLP +44 (0)20 7484 1150Edward Cumming-Bruce Julian Cazalet JPMorgan Cazenove Ltd +44 (0)20 7588 2828Andrew Hodgkin About Spirent Spirent is a leading communications technology company focused on deliveringinnovative systems and services to meet the needs of customers worldwide. We area global provider of performance analysis and service assurance solutions thatenable the development and deployment of next-generation networking technologiessuch as broadband services, Internet telephony, 3G wireless and web applicationsand security testing. The Systems group develops power control systems forspecialist electrical vehicles in the mobility and industrial markets. Furtherinformation about Spirent plc can be found at www.spirent.com Spirent Ordinary shares are traded on the London Stock Exchange (ticker: SPT)and on the New York Stock Exchange (ticker: SPM; CUSIP number: 84856M209) in theform of American Depositary Shares (ADS), represented by American DepositaryReceipts, with one ADS representing four Ordinary shares. Spirent and the Spirent logo are trademarks or registered trademarks of Spirentplc. All other trademarks or registered trademarks mentioned herein are held bytheir respective companies. All rights reserved. This press release may contain forward-looking statements (as that term isdefined in the United States Private Securities Litigation Reform Act of 1995)based on current expectations or beliefs, as well as assumptions about futureevents. You can sometimes, but not always, identify these statements by the useof a date in the future or such words as "will", "anticipate", "estimate","expect", "project", "intend", "plan", "should", "may", "assume" and othersimilar words. By their nature, forward-looking statements are inherentlypredictive and speculative and involve risk and uncertainty because they relateto events and depend on circumstances that will occur in the future. You shouldnot place undue reliance on these forward-looking statements, which are not aguarantee of future performance and are subject to factors that could cause ouractual results to differ materially from those expressed or implied by thesestatements. Such factors include, but are not limited to: the extent to whichcustomers continue to invest in next-generation technology and deploy advancedIP-based services; our ability to successfully expand our customer base; ourability to continue to benefit from generally improving market conditions; theprevailing market conditions and pace of economic recovery; our ability toimprove efficiency, achieve the benefits of our cost reduction goals and adaptto economic changes and other changes in demand or market conditions; ourability to develop and commercialise new products and services, extend ourexisting capabilities in IP services and expand our product offeringinternationally; our ability to attract and retain qualified personnel; theeffects of competition on our business; fluctuations in exchange rates and heavyexposure to a weak US dollar; changes in the business, financial condition orprospects of one or more of our major customers; risks of doing businessinternationally; the financial burden of our pension fund deficit; risksrelating to the acquisition or sale of businesses and our subsequent ability tointegrate businesses; our reliance on proprietary technology; our exposure toliabilities for product defects; our reliance on third party manufacturers andsuppliers; and other risks described from time to time in Spirent plc'sSecurities and Exchange Commission periodic reports and filings. Gleacher Shacklock LLP and JPMorgan Cazenove Limited, who are authorised andregulated in the United Kingdom by the Financial Services Authority, are actingexclusively for Spirent plc. Gleacher Shacklock LLP and JPMorgan CazenoveLimited are not acting for any other person in relation to the disposal andGleacher Shacklock LLP and JPMorgan Cazenove Limited will not be responsible toany person other than Spirent plc for providing the protections afforded toclients of Gleacher Shacklock LLP and JPMorgan Cazenove Limited or for providingadvice in relation to the contents of this document or the disposal. - ends- This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Spirent