Smiths Group PLC Disposal Update (5692K)
July 10 2017 - 8:30AM
UK Regulatory
TIDMSMIN
RNS Number : 5692K
Smiths Group PLC
10 July 2017
News Release
London, 10 July 2017
For immediate release
Smiths Group completes divestment of
Morpho Detection's former trace business
Smiths Group plc ("Smiths Group") today announces that it has
completed the sale of the explosive trace detection business
formerly owned by Morpho Detection (the "Trace Business") to OSI
Systems, Inc. for an enterprise value of $75.5 million, subject to
customary working capital adjustments. The proceeds will be
reinvested in attractive growth opportunities.
As previously announced, in connection with its acquisition of
Morpho Detection from Safran, Smiths Group had made commitments to
the European Commission and the Department of Justice to sell the
Trace Business.
ENDS
Investor enquiries
Jemma Spalton, Smiths Group
+44 (0)20 7004 1637
+44 (0)78 6739 0350
jemma.spalton@smiths.com
Marion Le Bot, Smiths Group
+44 (0)20 7004 1672
+44 (0)75 8315 4386
marion.lebot@smiths.com
Media enquiries
Andrew Lorenz, FTI Consulting
+44 (0)203 727 1323
+44 (0)777 564 1807
smiths@fticonsulting.com
Deborah Scott, FTI Consulting
+44 (0)203 727 1459
+44 (0)797 953 7449
smiths@fticonsulting.com
Smiths Group is a global technology company listed on the London
Stock Exchange (SMIN) and operates a sponsored level one ADR
programme (SMGZY). A world leader in the practical application of
advanced technologies, Smiths Group delivers products and services
for the threat & contraband detection, medical devices, energy
and communications markets worldwide. Smiths Group employs more
than 22,000 people in over 50 countries. For more information visit
www.smiths.com.
Disclaimer
This announcement contains certain statements that are
forward-looking statements. They appear in a number of places
throughout this announcement and include statements regarding our
intentions, beliefs or current expectations and those of our
officers, directors and employees concerning, amongst other things,
our results of operations, financial condition, liquidity,
prospects, growth, strategies and the business we operate. By their
nature, these statements involve uncertainty since future events
and circumstances can cause results and developments to differ
materially from those anticipated. The forward-looking statements
reflect knowledge and information available at the date of
preparation of this announcement and, unless otherwise required by
applicable law, Smiths undertakes no obligation to update or revise
these forward-looking statements. Nothing in this document should
be construed as a profit forecast.
No statement in this announcement is intended to be a profit
forecast and no statement in this announcement should be
interpreted to mean that earnings per Smiths ordinary share for the
current or future financial years would necessarily match or exceed
the historical published earnings per Smiths ordinary share. Prices
and values of, and income from, shares may go down as well as up
and an investor may not get back the amount invested. It should be
noted that past performance is no guide to future performance.
Persons needing advice should consult an independent financial
adviser.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCURSWRBOABARR
(END) Dow Jones Newswires
July 10, 2017 08:30 ET (12:30 GMT)
Smiths (LSE:SMIN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Smiths (LSE:SMIN)
Historical Stock Chart
From Apr 2023 to Apr 2024