TVC Holdings PLC Completion of Sale of Shenick (5204Z)

TIDMTVCH

RNS Number : 5204Z

TVC Holdings PLC

07 February 2014

TVC Holdings plc

('TVCH' or the 'Company')

TVC Holdings Announces Completion of Sale of Shenick

TVC Holdings plc, the investment holding company, today (Friday, 7 February 2014) announced that it had completed the sale of its interest in Shenick Network Systems Limited ("Shenick") as part of the acquisition of Shenick by a wholly owned subsidiary of Aeroflex Holding Corp. (NYSE:ARX).

Shenick delivers IP test and measurement solutions for today's virtualized and physical network infrastructure.

The total cash proceeds payable to TVC amount to US$8.6 million (EUR6.4 million) of which US$1.7 million (EUR1.2 million) is payable subject to escrow. The total consideration payable to TVC, including escrow, represents a return of 2.4 times the valuation of its investment at 30 September 2013, as reported in TVC's Interim Financial Results to that date.

Contact information:

TVC Holdings plc

Shane Reihill, Executive Chairman

John Tracey, Chief Executive Officer

Tel: +353-1-205 7700

Davy

John Frain

Tel: + 353-1-679 6363

Murray Consultants

Pauline McAlester

Tel: +353-1-498 0300

This information is provided by RNS