9th Jul 2007 17:00
Meggitt PLC09 July 2007 NOT FOR ISSUE IN THE UNITED STATES, CANADA OR JAPAN For Immediate Release 9 July 2007 Meggitt PLC ("Meggitt") Meggitt PLC Announces That Its Subsidiary, K&F Industries, Commences Cash TenderOffer And Consent Solicitation For Its 7-3/4% Senior Subordinated Notes Due 2014 Meggitt PLC ("Meggitt") announces that its subsidiary, K&F Industries, Inc. ("K&F"), has commenced a cash tender offer for any and all of its $315 millionaggregate principal amount of 7-3/4% Senior Subordinated Notes due 2014 (the"Notes") and a consent solicitation to adopt certain amendments to the indenturegoverning the Notes (the "Proposed Amendments") that will eliminate or modifysubstantially all of the restrictive covenants applicable to these Notes. K&F is making the Offer following the acquisition (the "Acquisition") by Meggittof K&F Industries Holdings, Inc., K&F's parent company. In connection with theAcquisition, K&F became a wholly owned subsidiary of Meggitt. The Offer alsosatisfies K&F's obligation to offer to repurchase the Notes following a changeof control (as defined in the Indenture). The Offer will expire at midnight, New York City time, on 3 August 2007, unlessextended at the sole discretion of K&F or earlier terminated. Assuming all Notes are validly tendered, the total consideration payable by K&Fis expected to be approximately $341 million, excluding accrued interest, whichwill be paid from existing facilities. This press release is for information purposes only and is not an offer topurchase, a solicitation of an offer to purchase or a solicitation of a consentwith respect to any of the Notes. The tender offer and consent solicitation arebeing made solely by the Offer to Purchase and Consent Solicitation Statementand related Letter of Transmittal and Consent. END For further information, please contact: Meggitt PLCTerry Twigger, Group Chief ExecutiveStephen Young, Group Finance DirectorOffice: +44 1202 597597 Buchanan CommunicationsCharles RylandJeremy GarciaOffice : +44 20 7466 5000 www.meggitt.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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