Frontier Smart Technologies Grp Ltd Response to Science Group's announcement (3031C)
June 14 2019 - 3:31AM
UK Regulatory
TIDMFST TIDMSAG
RNS Number : 3031C
Frontier Smart Technologies Grp Ltd
14 June 2019
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION
WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR
REGULATIONS OF THAT JURISDICTION.
14 June 2019
Frontier Smart Technologies Group Ltd ("Frontier" or the
"Company")
Response to Science Group's announcement
The Board of Frontier and its advisers, N+1 Singer, note the
announcement made by Science Group Plc this morning.
The Board of Frontier confirms that it has recently received a
further preliminary approach from a credible, industry player with
a view to executing a corporate transaction which may or may not
involve an offer for the Company.
The approach is at a preliminary stage, the proposed structure
of the potential transaction has not yet been confirmed, and there
can be no certainty that it will result in a formal offer for the
Company, nor as to the terms of any such offer if made. The Board
is urgently seeking to clarify the pricing, conditionality and
deliverability of this second approach, in line with its fiduciary
duty to maximise value for shareholders.
Further announcements will be made if and when appropriate.
In the meantime, Frontier shareholders are strongly urged to
take no action in relation to their Frontier shares.
For Further Enquiries:
Frontier Smart Technologies Group Limited +44 (0) 20 7391 0630
Anthony Sethill, Chief Executive Officer
Jonathan Apps, Chief Financial Officer
Patrick Hannon, Vice President, Corporate
Development
N+1 Singer (Nominated Adviser and Broker) +44 (0) 20 7496 3000
Lauren Kettle / Ben Farrow
About Frontier Smart Technologies Group Limited
Frontier Smart Technologies is a pioneer in technologies for
Digital Radio and Smart IoT devices. The Group's customers include
many leading consumer audio brands: Bose, Denon, harman/kardon,
JBL, Onkyo, Panasonic, Sony, Yamaha, Altec Lansing, Blaupunkt,
Grundig, Hama, Klipsch, Marshall, Pioneer, Pure, Roberts,
TechniSat, Teufel and many more. Established in 2001, the Group is
headquartered in London, with engineering, sales and operations
teams in Cambridge, Timisoara (Romania), Hong Kong and Shenzhen.
For more information, see frontiersmart.com.
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END
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