March 27, 2018 / 7:21 AM / a month ago

BRIEF-Melrose Agrees With Panel On Post-Offer Undertakings On GKN Deal

March 27 (Reuters) - Melrose Industries Plc:

* CONFIRMS THAT IT HAS TODAY AGREED WITH PANEL FORM OF FOLLOWING LEGALLY BINDING POST-OFFER UNDERTAKINGS (POUS)

* CONFIRMS IT AGREED WITH PANEL FOR UNDERTAKING FOR PERIOD OF 5 YRS TO MAINTAIN MELROSE GROUP HEADQUARTERS IN UK

* AN UNDERTAKING FOR FIVE YEARS TO MAINTAIN LISTING OF MELROSE’S SHARES ON OFFICIAL LIST AS MAINTAINED BY UKLA

* POU INCLUDES UNDERTAKING FOR FIVE YEARS THAT NO DIRECTOR WILL BE APPOINTED OR REAPPOINTED, OR RECOMMENDED TO BE APPOINTED OR REAPPOINTED

* UNDERTAKING CO WILL PROCURE THAT EXPENSED RESEARCH AND DEVELOPMENT SPEND OF GKN DURING JAN 1 2019 TO DEC 31 2023 WILL BE AT LEAST 2.2 PERCENT OF AGGREGATE GKN SALES Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below