Laird PLC (LRD) - Completion of Disposal RNS Number : 1993Q Laird PLC 02 November 2012 LAIRD COMPLETES EXIT OF HANDSET ANTENNAE BUSINESS Laird PLC ("Laird"), a global technology company focused on providing components and solutions that protect electronic devices from electromagnetic interference and heat, and that enable wireless connectivity through wireless applications and antennae systems, today confirms the completion of the sale of its Handset Antennae business assets to Shenzhen Sunway Communication Co., Ltd ("Sunway"). Laird PLC announced on 8 March 2012, the sale of assets and the entire issued share capital of Laird Technologies (Beijing) Co., Ltd. for RMB 198m (c.£20m) subject to a minimum level of working capital and subject to certain regulatory approvals being received by Sunway. These approvals have now been obtained. The transfer of funds for RMB 156m net of RMB 17m withholding tax has been received, as adjusted to reflect an estimate of working capital at completion. The finalisation of this transaction completes the exit from the Handset Antennae business and allows us to focus on driving our business forward. For enquiries: Laird PLC Maitland David Lockwood, Chief Executive Brian Hudspith Jonathan Silver, Finance Director Liz Morley Anna Hartropp, Head of Investor Relations Tel: 020 7468 4040 Tel: 020 7379 5151 This information is provided by RNS The company news service from the London Stock Exchange END DISUUSKRUVAARRA -0- Nov/02/2012 09:47 GMT
Laird PLC LRD Completion of Disposal
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