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Frontier Smart Tech (FST)

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Friday 14 June, 2019

Frontier Smart Tech

Response to Science Group's announcement

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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