17th Apr 2009 09:44
Pace Plc waives share-lock up for Royal Philips Electronics NV
17 April 2009: Pace plc has agreed to waive the lock-up undertaking given by Koninklijke Philips Electronics N.V. ("Philips"), in relation to shares received by Philips as consideration for the sale of their set-top box and connectivity solutions business, which completed on 21 April 2008.
The shares, which represent approximately 17 per cent of Pace's issued share capital, were subject to a lock-in that was due to expire on 21 April 2009.
J.P. Morgan Cazenove is conducting an accelerated bookbuilt secondary placing of Philips Electronics NV 's entire holding of 50,701,049 ordinary shares in Pace plc.
-ends-
Contacts
Jonathan Glass/Aideen Lee Helen Kettleborough
Brunswick Pace plc
+44 20 7404 5959 +44 1274 538005
About Pace plc
Pace plc (LSE:PIC) is a leading technology developer for the global payTV industry, working across satellite, cable, IPTV and terrestrial platforms.
Pace has one of the world's most experienced specialist engineering teams, developing intelligent and innovative products and services for both payTV operators and retail markets across the world. Pace employs over 900 people in locations around the world, including France, the USA, India and Hong Kong. Pace's international headquarters are in Saltaire, West Yorkshire, UK.
For more information on Pace, please visit www.pace.com.
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