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NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION
London, 18 December 2012
Update on proposed disposal of Invensys's Rail Division
Further to the announcement on 28 November 2012, Invensys plc has now received the following approvals in relation to the Rail Disposal.
The Company has received clearance from the UK Pensions Regulator in relation to the Rail Disposal, the Pension Agreements and the Return of Capital, confirming that the Rail Disposal, the Pension Agreements and the Return of Capital will not result in any contribution notice or financial support direction being imposed under the Pensions Act 2004 on any person.
The Company has also received confirmation from the Facility Agent that the Majority Lenders have consented to the Rail Disposal.
The Rail Disposal remains conditional upon:
· the approval by the Shareholders at the General Meeting to be held tomorrow, 19 December 2012; and
· all waiting periods and approvals required pursuant to applicable anti-trust laws in the EU, US, Turkey and Brazil having expired or been obtained.
Capitalised definitions in this announcement have the same meaning as defined in "Part VI - Definitions" in the Class 1 circular to Invensys plc shareholders issued on 30 November 2012.
Enquiries:
Invensys plc
Steve Devany
Tel: +44 (0)20 3155 1301
J.P. Morgan Cazenove (Financial Adviser, Sponsor and Corporate Broker)
Edmund Byers
Dwayne Lysaght
Richard Perelman
Tel: +44 (0)20 7742 4000
Ondra Partners (Financial Adviser)
Michael Tory
Tomas Hernanz
Tel: +44 (0)20 7082 8750
FTI Consulting (PR Adviser)
Richard Mountain
Andrew Lorenz
Tel: +44 (0)20 7269 7291
This information is provided by RNSThe company news service from the London Stock ExchangeENDMSCBKFDNPBDDFBD