Completion of RMSpumptools Disposal

Completion of RMSpumptools Disposal

James Fisher and Sons plc (FSJ.L) ("James Fisher" or the "Company" and, together with its subsidiaries, the "Group"), is pleased to announce that it has completed the sale of RMSpumptools Limited ("RMS") to ChampionX UK Limited, a wholly-owned subsidiary of ChampionX Corporation ("ChampionX") following the satisfaction of all applicable conditions, including receipt of merger control clearance from the Saudi Arabia General Authority for Competition (the "Disposal"). 

The Continuing Group continues to trade in line with its expectations and the outlook for 2024 is unchanged. 

Jean Vernet, Chief Executive Officer of James Fisher, said:

"The completion of the sale of RMS is a key inflection point for James Fisher.  It significantly strengthens our balance sheet and will enable us to continue to deliver the business turnaround, investing in our core portfolio and the innovative new technologies that will deliver future growth.

"I would like to thank the RMS team for their contribution over the past 20 years and wish them every success in their new future with ChampionX."

Notes:

Any capitalized terms not expressly defined herein shall have the meanings ascribed to them in the circular relating to the Disposal, dated 24 May 2024, which is hereby incorporated by reference.