TT Electronics PLC Response to Volex no intention to bid statement
13 December 2024 - 5:17AM
RNS Regulatory News
RNS Number : 9417P
TT Electronics PLC
12 December 2024
NOT
FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY
(IN WHOLE OR IN PART) IN, INTO OR FROM ANY JURISDICTION WHERE TO DO
SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH
JURISDICTION
FOR
IMMEDIATE RELEASE
12 December 2024
Response to Volex plc no
intention to bid statement
TT
Electronics plc ("TT Electronics" or the "Company") notes the
announcement made by Volex plc ("Volex") earlier today that it does
not intend to make an offer for TT Electronics. As a result of the
announcement, Volex is bound by the restrictions contained in Rule
2.8 of the City Code on Takeovers and Mergers.
The Board
continues to have confidence in the Company's medium-term financial
framework, including a 12% operating margin by 2026, which assumes
a reasonable recovery in the components market and is underpinned
by the good momentum in our European and Asian businesses,
alongside the impact of Project Dynamo. The outlook for the Company
for the year ending 31 December 2024 is unchanged.
TT
Electronics' results for the year ending 31st December
2024 will be announced in March 2025.
Enquiries
MHP
Communications
+44 (0)7817 458804
Tim Rowntree / Ollie
Hoare
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