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[posting]39422028[/posting]14 May 2010 RAYMARINE PLC (“RAYMARINE”) On 29 April 2010, Raymarine announced that it was in advanced discussions with a third party regarding a sale of Raymarine Holdings Limited, representing the entire business operations of Raymarine and its subsidiary undertakings. In that announcement Raymarine stated that, were that transaction to be completed, it envisaged that approximately 17.5 pence per share would be available for return to Raymarine shareholders. That third party has now informed Raymarine that it is no longer willing to proceed with that transaction. It has, however, informed Raymarine’s banking syndicate that if Raymarine were to enter into administration it would be willing to enter into a transaction with the administrator to acquire Raymarine Holdings Limited for a consideration that is likely to equate to approximately 17.5 pence per Raymarine share (before the costs associated with an administration) in addition to providing for the repayment of the Raymarine group’s banking facilities. The party has indicated that any acquisition of Raymarine Holdings Limited would need to be completed today, 14 May 2010. As previously announced, Raymarine is not compliant with the covenants that are a requirement of its borrowing facilities being available and since the first half of 2009 has been operating under a series of short term covenant waivers. The most recent covenant waiver expired at 11.59pm on 13 May 2010, and very shortly before that covenant waiver expired Raymarine’s banking syndicate informed the Company that they are not willing to grant a further waiver at this time. The Board is in urgent discussions with its banks to seek to resolve the situation. A further announcement will be made in due course. |
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| aus der Diskussion: | Warum interessiert sich hier niemand für GARMIN ?? |
| Autor (Datum des Eintrages): | R-BgO (14.05.10 16:16:25) |
| Beitrag: | 87 von 95 (ID:39521897) |
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