Pace plc waives share-lock up for Royal Philips Electronics NV
April 17 2009
Pace plc has agreed to waive the lock-up undertaking given by Koninklijke Philips Electronics N.V. (“Philips”), in relation to shares received by Philips as consideration for the sale of their set-top box and connectivity solutions business, which completed on 21 April 2008.
The shares, which represent approximately 17 per cent of Pace’s issued share capital, were subject to a lock-in that was due to expire on 21 April 2009.
J.P. Morgan Cazenove is conducting an accelerated bookbuilt secondary placing of Philips Electronics NV ‘s entire holding of 50,701,049 ordinary shares in Pace plc.
