Edwards Group Limited - Shareholders Approve Atlas Copco Acquisition

Edwards Group Limited - Shareholders Approve Atlas Copco Acquisition

CRAWLEY, West Sussex, United Kingdom, Oct. 4, 2013 (GLOBE NEWSWIRE) -- Edwards
Group Limited (Nasdaq:EVAC) ("Edwards" or the "Company"), a leading developer
and manufacturer of sophisticated vacuum products, abatement systems and
related value-added services, announces that an Extraordinary General Meeting
("EGM") of its shareholders convened today has approved by the requisite
majority, the proposed merger with Atlas Copco Group (NASDAQ OMX Stockholm:
ATCO A, ATCO B), the Sweden-based provider of industrial productivity
solutions, pursuant to a definitive merger agreement entered into on August
19, 2013.

Under the terms of the merger agreement, a subsidiary of Atlas Copco will
acquire Edwards for a per-share consideration of up to $10.50, which includes
a fixed cash payment of $9.25 at closing and an additional payment of up to
$1.25 per share post-closing, depending on Edwards's achievement of 2013
revenue within the range of £587.5 million to £650 million and achievement of
a related Adjusted EBITDA target within the range of £113.9 million to £145
million. The transaction is expected to close in the first quarter of 2014.

Approximately 95% of the outstanding ordinary shares (including ordinary
shares underlying outstanding American Depositary Shares) were voted at the
EGM, with approximately 98% of such voted shares voting in favour of the
merger.

Additionally, Edwards announced that David Smith, Chief Financial Officer,
will with the agreement of the Board, leave the Company with effect from
December 31, 2013 in order to take up a new opportunity at the start of 2014.

Forward-Looking Statements

This document may include forward-looking statements such as statements
regarding the Company's business strategy, financial condition, results of
operations and market data, as well as other statements that are not
historical facts. By their nature, forward-looking statements are subject to
numerous factors, risks and uncertainties that could cause actual outcomes and
results to be materially different from those projected. Readers are cautioned
not to place undue reliance on these forward-looking statements. Except for
any ongoing obligation to disclose material information as required by the
United States federal securities laws, the Company does not have any intention
or obligation to publicly update or revise any forward-looking statements
after the Company distributes this document, whether to reflect any future
events or circumstances or otherwise. For a discussion of potential risks and
uncertainties, please refer to the risk factors listed in the Company's SEC
filings. Copies of the Company's SEC filings are available from the SEC
website, www.sec.gov.

About Edwards

Edwards is a leading developer and manufacturer of sophisticated vacuum
products, abatement systems and related value-added services. These are
integral to manufacturing processes for semiconductors, flat panel displays,
LEDs and solar cells; are used within an increasingly diverse range of
industrial processes including power, glass and other coating applications,
steel and other metallurgy, pharmaceutical and chemical; and for both
scientific instruments and a wide range of R&D applications.

Edwards has over 3,200 full-time employees and 500 temporary workers operating
in approximately 30 countries worldwide engaged in the design, manufacture and
support of high technology vacuum and exhaust management equipment.

Edwards' American Depositary Shares trade on The NASDAQ Global Select Market
under the symbol EVAC. Further information about Edwards can be found at
www.edwardsvacuum.com.

EVAC-F

CONTACT: Investor Relations:
        
         Ross Hawley
         Head of Investor Relations
         Edwards
         +44 (0)1293 528844
         investors@edwardsvacuum.com
        
         Monica Gould
         The Blueshirt Group
         +1 212 871-3927
         monica@blueshirtgroup.com

company logo
 
Press spacebar to pause and continue. Press esc to stop.