29th Sep 2005 11:30
Dept Trade & Industry29 September 2005 MINISTER AGREES VARIATION TO BAE SYSTEMS UNDERTAKING Competition Minister Gerry Sutcliffe has today agreed to vary Undertakings BAESYSTEMS plc (''BAES'') gave on 28 March 2000 arising from the acquisition by theformer British Aerospace of Marconi Electronic Systems. This variation is necessary to allow the extension of the current ComplianceOfficer's (CO) term of appointment. The CO's role is to facilitate and overseecompliance with the Undertakings and report to the Minstry of Defence and Officeof Fair Trading (OFT) on compliance. The OFT have accepted, in principle, BAES's request for a formal review of thewhole of the remaining Undertakings. Extending the term of appointment for thecurrent CO will allow BAE Systems to benefit from his knowledge and experiencewhile this review is taking place. Notes for Editors 1. The Undertakings can be viewed at http://www.baesystems.com/ mergerundertakings/index.htm 2. The press notice issued on the 28 March 2000 can be found at: http://www.gnn.gov.uk/environment/detail.asp?ReleaseID=50878&NewsAreaID=2& NavigatedFromDepartment=False 3. A copy of the variation is available from http://www.dti.gov.uk/ccp/topics2/mergerspi.htm 4. The current Compliance Officers's term of appointment was due to expire on the 30 September 2005. Department of Trade and Industry 7th Floor 1 Victoria Street London SW1H 0ET Press Enquiries +44 (0)20 7215 5969 (Out of Hours) +44 (0)20 7215 3234/3505 Public Enquiries +44 (0)20 7215 5000 Textphone +44 (0)20 7215 6740 (for those with hearing impairment) Press Office Fax +44 (0)20 7222 4382 www.dti.gov.uk This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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