16th Oct 2007 07:00
Cobham PLC16 October 2007 #22416 October 2007 WALLOP DEFENCE SYSTEMS CONTINGENT CONSIDERATION On 27 March 2006, Cobham plc (Cobham) announced the completion of the sale ofits countermeasures business, Wallop Defence Systems Limited (WDSL), toEsterline Technologies Corporation (Esterline) for a maximum of £43.75m in cash,of which £10m was contingent upon the future performance of WDSL. Following satisfaction of one of the performance conditions, Cobham is pleasedto announce that a further net payment of £5.7m has now been received fromEsterline, as additional consideration for the sale of the business. This willbe recorded as an exceptional profit on disposal. -ENDS- ENQUIRIESCobham plc Telephone: +44 (0) 1202 882 020Allan Cook, Chief ExecutiveWarren Tucker, Group Financial DirectorJulian Wais, Director of Investor Relations Weber Shandwick Financial +44 (0) 207 067 0700Susan Ellis, Louise Robson Cobham plc is an international company engaged in the development, delivery andsupport of advanced aerospace and defence systems for land, sea and airplatforms. The company has five technology divisions and one in the servicesector that collectively specialise in the provision of components, subsystemsand services that keep people safe, improve communications and enhance theperformance of aerospace and defence platforms. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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