Filtronic plc (FTC.L) announced the formal offer document, prospectus and circular in connection with the Acquisition of Wireless Telecoms Business of Isotek.
The company stated that the consideration payable for the Acquisition comprises cash consideration of £4,350,000 and the issue of 18.55 million new Ordinary Shares.
Based on the closing mid-price per Ordinary Share of 35.75 pence as at 27 October 2010, this implies an aggregate consideration of approximately £11.0 million.
Filtronic added that on 16 October 2006, it had announced that it had completed the disposal of the majority of its wireless infrastructure division, comprising transmit/receive filters, integrated remote radio heads and power amplifier products, for shares and cash then worth US$298 million.
Based on the closing mid-price per Ordinary Share of 35.75 pence as at 27 October 2010, the company noted that this implies an aggregate consideration of about £11.0 million.
Filtronic stated that its directors believe that the acquisition is likely to increase the Group's turnover in the year ending 31 May 2012 by around £15 million.
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