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Discussion Starter · #1 ·
Just seen this. Do you think this would be a good or bad move for Raymarine?

PRESS ANNOUNCEMENT
FOR IMMEDIATE RELEASE
17 August 2009

RAYMARINE PLC ("RAYMARINE" OR THE "COMPANY")

The Board of Raymarine (the "Board") notes the recent press speculation regarding potential discussions with Garmin Ltd. ("Garmin") and reconfirms that it is in preliminary discussions with a number of parties, including Garmin, which may or may not lead to a sale of the Company.

The Company continues to explore a sale of the business or an equity fundraising and, in the absence of either of these, to secure additional medium term debt facilities with its banking syndicate.

The Board notes that, at this stage, there can be no certainty that an offer will be made nor as to the terms on which any offer might be made. At present, it is not known whether any offer will provide any value for ordinary shareholders.

This announcement is not made with the consent of any of the potential offerors. Further announcements will be made as appropriate.
 
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