Filtronic PLC
05 March 2007
Filtronic plc
Return of cash
In the announcement of its interim results for the 6 months ended 30 November
2006 on 29 January 2007, the Company stated its intention to return an initial
£10 million of cash to shareholders (by way of the B share scheme) by the end of
March 2007, being the level of cash which the Board considered prudent to return
given the Company's distributable reserves.
Since then, the value of the Powerwave Technologies, Inc. stock held by the
Company has declined below the level at which the Board considers it prudent to
undertake this initial return of cash.
The Board reaffirms its intent to reorganise its shareholder funds to create
additional distributable reserves to facilitate returns of cash, in line with
the timescale indicated in its interim results.
Contacts:
Filtronic plc
John Poulter, Chairman 01274 231 021
Charles Hindson, Chief Executive 07800 706 319 (mobile)
Filtronic website: www.filtronic.com
Parkgreen Communications Ltd 020 7493 3713
Paul McManus 07980 541 893 (mobile)
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange