TIDMVOD
RNS Number : 4727O
Vodafone Group Plc
07 August 2014
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (IN WHOLE OR IN
PART), DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES,
CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO
WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH
JURISDICTION.
7 August 2014
Vodafone to complete acquisition of Cobra Automotive
Technologies S.p.A.
Vodafone today confirms that its voluntary tender offer (the
"Offer") for security and telematics provider Cobra Automotive
Technologies S.p.A. ("Cobra") has become wholly unconditional. The
Offer will settle on 8 August 2014. The total consideration for the
entire issued share capital of Cobra is EUR145 million (GBP115
million)(1) .
Vodafone will purchase more than 95% of Cobra's share capital
through the Offer and will then start proceedings to purchase the
remaining shares. This will result in Cobra becoming a 100% owned
subsidiary of Vodafone and Cobra will also be de-listed from the
Italian Stock Exchange (Borsa Italiana). The purchase of remaining
shares and de-listing of Cobra are expected to occur on 14 August
2014.
-ends-
(1) At an exchange rate of GBP1.00:EUR1.253
Note to Editors
Cobra Automotive Technologies S.p.A operates in two main
sectors. The first relates to the design, development, manufacture
and marketing of electronic systems that includes components and
burglar alarm systems as well as assistance to low-speed manoeuvres
systems.
The second is focussed on the design and provision of services
based on geo-location of vehicles to aid the location and recovery
of stolen vehicles. This also includes smart insurance services for
insurers and the management of vehicle fleets.
For further information:
Vodafone Group
Media Relations Investor Relations
www.vodafone.com/media/contact Telephone: +44 (0) 7919 990
230
About Vodafone
Vodafone is one of the world's largest telecommunications
companies and provides a range of services including voice,
messaging, data and fixed communications. Vodafone has mobile
operations in 26 countries, partners with mobile networks in 52
more, and fixed broadband operations in 17 markets. As of 30 June
2014, Vodafone had 436 million mobile customers and 9 million fixed
broadband customers. For more information, please visit:
www.vodafone.com
About Vodafone Machine-to-Machine (M2M)
Vodafone Machine-to-Machine (M2M) connects previously isolated
machines or devices to the internet, delivering new functionality
and enhanced services without the need for human intervention.
Supported by more than 250 dedicated employees, Vodafone's global
M2M platform makes it easy for global businesses to manage
centrally M2M deployments across multiple territories, with greater
control and at a lower cost than previously possible. In 2014
Vodafone was named global M2M leader by Machina Research, for the
third year in a row. For more information, please visit:
https://m2m.vodafone.com/home/
Disclaimer
This announcement does not constitute, or form part, of any
offer or invitation to sell, allot or issue or any solicitation of
any offer to purchase or subscribe for any securities, nor shall it
(or any part of it) form the basis of, or be relied on in
connection with, or act as any inducement to enter into, any
contract or commitment for securities.
Neither this announcement nor any copy of it may be made or
transmitted into the United States, or distributed, directly or
indirectly, in the United States. Neither this announcement nor any
copy of it may be taken or transmitted directly or indirectly into
Australia, Canada or Japan or to any persons in any of those
jurisdictions, except in compliance with applicable securities
laws. Any failure to comply with this restriction may constitute a
violation of United States, Australian, Canadian or Japanese
securities laws. The distribution of this announcement in other
jurisdictions may be restricted by law and persons into whose
possession this announcement comes should inform themselves about,
and observe, any such restrictions. This announcement does not
constitute, or form part of, an offer to sell, or a solicitation of
an offer to purchase, any securities in the United States,
Australia, Canada or Japan or in any other jurisdiction.
Forward Looking Statements
Certain information contained in this announcement constitutes
"forward-looking statements," which can be identified by the use of
terms such as "may", "will", "should", "expect", "anticipate",
"project", "estimate", "intend", "continue", "target" or "believe"
(or the negatives thereof) or other variations thereon or
comparable terminology. Such statements express the intentions,
opinions, or current expectations of Vodafone with respect to
possible future events and are based on current plans, estimates
and forecasts which Vodafone has made to the best of its knowledge,
but which do not claim to be correct in the future. Due to various
risks and uncertainties, actual events or results or actual
performance of Vodafone may differ materially from those reflected
or contemplated in such forward-looking statements. No assurances
can be given that the forward-looking statements in this
announcement will be realised. As a result, recipients should not
rely on such forward-looking statements. Subject to compliance with
applicable law and regulations, Vodafone undertakes no obligation
to update these forward-looking statements. No representation or
warranty is made as to the reasonableness of such forward-looking
statements. No statement in this announcement is intended to be nor
may be construed as a profit forecast.
This announcement will be available in due course (other than to
persons in any jurisdiction where the publication of this
announcement is restricted) on the website of Vodafone at
www.vodafone.com/investor which already has available the Offer
Document and other documents relating to the Offer.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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