EQS Group-News: u-blox AG / Key word(s): Corporate Action 
u-blox AG: Statement regarding Telit Communications PLC ('Telit') 
 
2020-11-20 / 07:30 
 
*Press release* 
 
*Statement regarding Telit Communications PLC ("Telit")* 
 
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN OR INTO 
OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSITUTE A VIOLATION OF THE 
RELEVANT LAWS OF SUCH JURISDICTION. THIS ANNOUNCEMENT DOES NOT CONSTITUTE A 
TAKEOVER OFFER OR AN OFFER OF SECURITIES. NO OFFER OR SALE OF SECURITIES MAY 
OCCUR IN THE UNITED STATES UNLESS THE TRANSACTION HAS BEEN REGISTERED UNDER 
THE US SECURITIES ACT OF 1933 OR IS EXEMPT FROM REGISTRATION THEREUNDER. 
 
THIS ANNOUNCEMENT IS NOT AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN 
OFFER UNDER RULE 2.7 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE 
"*CODE*") AND THERE CAN BE NO CERTAINTY THAT A FIRM OFFER WILL BE MADE NOR 
AS TO THE TERMS ON WHICH ANY SUCH OFFER WOULD BE MADE. 
 
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION 
 
For immediate release 
 
*Thalwil, Switzerland - 20 November 2020 -* u-blox Holding AG ("*u-blox*") 
(SIX:UBXN,OTC:UBLXF), a global leader in wireless and positioning 
technologies, notes the recent press speculation and confirms it submitted 
to the Board of Directors of Telit a non-binding all-share offer valuing 
Telit at GBP GBP2.50 per share (the "*Possible Offer*"). The response of the 
Board of Telit is still outstanding and there can be no certainty that any 
transaction will ultimately be forthcoming nor as to the terms on which any 
such offer would ultimately be made. 
 
Whilst discussions are at an early stage and remain subject to due 
diligence, the Board of u-blox believes that such a combination has a strong 
strategic rationale and could result in substantial synergies for both 
organisations. 
 
Pursuant to Rule 2.5 of the Code, u-blox reserves the right to: 
 
(i) introduce other forms of consideration and/or to vary the form and/or 
mix of the consideration described in this announcement; and 
(ii) make an offer on less favourable terms: 
a. with the recommendation or consent of the Board of Telit; 
b. if Telit announces, declares or pays any dividend or any other 
distribution to shareholders, in which case u-blox will have the right to 
make an equivalent reduction to the proposed price; 
c. if a third party announces a firm intention to make an offer for Telit on 
less favourable terms than the Possible Offer; or 
d. following the announcement by Telit of a whitewash transaction pursuant 
to the Code. 
 
In accordance with Rule 2.6(a) of the Code, u-blox is required, by no later 
than 5.00 pm (London time) on 18 December 2020, to announce a firm intention 
to make an offer for Telit in accordance with Rule 2.7 of the Code or 
announce that it does not intend to make an offer, in which case the 
announcement will be treated as a statement to which Rule 2.8 of the Code 
applies. This deadline can be extended with the consent of the Panel in 
accordance with Rule 2.6(c) of the Code. 
 
In accordance with Rule 2.9 of the Code, the Company confirms that it has 
7'114'839 ordinary shares in issue. The ISIN reference for these securities 
is CH0033361673. 
 
A further statement will be made as appropriate. 
 
*Enquiries:* 
 
Credit Suisse, financial adviser to u-blox 
Ben Deary 
Phone: +44 20 7888 8888 
 
*Important notices * 
 
In accordance with Rule 26.1 of the Code, a copy of this announcement will 
be available on u-blox's website at (www.u-blox.com [1]). The content of the 
website referred to in this announcement is not incorporated into and does 
not form part of this announcement. 
 
This communication is not intended to and does not constitute an offer to 
buy or the solicitation of an offer to subscribe for or sell or an 
invitation to purchase or subscribe for any securities or the solicitation 
of any vote in any jurisdiction. The release, publication or distribution of 
this communication in whole or in part, directly or indirectly, in, into or 
from certain jurisdictions may be restricted by law and therefore persons in 
such jurisdictions should inform themselves about and observe such 
restrictions. 
 
The distribution of this announcement in jurisdictions outside the United 
Kingdom may be restricted by law and therefore persons into whose possession 
this announcement comes should inform themselves about, and observe, such 
restrictions. Any failure to comply with the restrictions may constitute a 
violation of the securities law of any such jurisdictions. 
 
Credit Suisse International ("*Credit Suisse*"), which is authorised by the 
Prudential Regulation Authority and regulated by the Financial Conduct 
Authority and the Prudential Regulation Authority in the UK, is acting as 
lead financial adviser exclusively for u-blox and no one else in connection 
with the matters set out in this announcement and will not be responsible to 
any person other than u-blox for providing the protections afforded to 
clients of Credit Suisse, nor for providing advice in relation to the 
content of this announcement or any matter referred to herein. Neither 
Credit Suisse nor any of its subsidiaries, branches or affiliates owes or 
accepts any duty, liability or responsibility whatsoever (whether direct or 
indirect, whether in contract, in tort, under statute or otherwise) to any 
person who is not a client of Credit Suisse in connection with this 
announcement, any statement contained herein or otherwise. 
 
*Disclosure requirements of the Code * 
 
Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of 
any class of relevant securities of an offeree company or of any securities 
exchange offeror (being any offeror other than an offeror in respect of 
which it has been announced that its offer is, or is likely to be, solely in 
cash) must make an Opening Position Disclosure following the commencement of 
the offer period and, if later, following the announcement in which any 
securities exchange offeror is first identified. An Opening Position 
Disclosure must contain details of the person's interests and short 
positions in, and rights to subscribe for, any relevant securities of each 
of (i) the offeree company and (ii) any securities exchange offeror(s). An 
Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be 
made by no later than 3.30 pm (London time) on the 10th business day 
following the commencement of the offer period and, if appropriate, by no 
later than 3.30 pm (London time) on the 10th business day following the 
announcement in which any securities exchange offeror is first identified. 
Relevant persons who deal in the relevant securities of the offeree company 
or of a securities exchange offeror prior to the deadline for making an 
Opening Position Disclosure must instead make a Dealing Disclosure. 
 
Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 
1% or more of any class of relevant securities of the offeree company or of 
any securities exchange offeror must make a Dealing Disclosure if the person 
deals in any relevant securities of the offeree company or of any securities 
exchange offeror. A Dealing Disclosure must contain details of the dealing 
concerned and of the person's interests and short positions in, and rights 
to subscribe for, any relevant securities of each of (i) the offeree company 
and (ii) any securities exchange offeror, save to the extent that these 
details have previously been disclosed under Rule 8. A Dealing Disclosure by 
a person to whom Rule 8.3(b) applies must be made by no later than 3.30 pm 
(London time) on the business day following the date of the relevant 
dealing. 
 
If two or more persons act together pursuant to an agreement or 
understanding, whether formal or informal, to acquire or control an interest 
in relevant securities of an offeree company or a securities exchange 
offeror, they will be deemed to be a single person for the purpose of Rule 
8.3. Opening Position Disclosures must also be made by the offeree company 
and by any offeror and Dealing Disclosures must also be made by the offeree 
company, by any offeror and by any persons acting in concert with any of 
them (see Rules 8.1, 8.2 and 8.4). 
 
Details of the offeree and offeror companies in respect of whose relevant 
securities Opening Position Disclosures and Dealing Disclosures must be made 
can be found in the Disclosure Table on the Takeover Panel's website at 
http://www.thetakeoverpanel.org.uk, including details of the number of 
relevant securities in issue, when the offer period commenced and when any 
offeror was first identified. If you are in any doubt as to whether you are 
required to make an Opening Position Disclosure or a Dealing Disclosure, you 
should contact the Panel's Market Surveillance Unit on +44 (0)20 7638 0129. 
 
*About u-blox* 
 
u-blox (SIX:UBXN) is a global provider of leading positioning and wireless 
communication technologies for the automotive, industrial, and consumer 
markets. Their solutions let people, vehicles, and machines determine their 
precise position and communicate wirelessly over cellular and short range 
networks. With a broad portfolio of chips, modules, and a growing ecosystem 
of product supporting data services, u-blox is uniquely positioned to 
empower its customers to develop innovative solutions for the Internet of 
Things, quickly and cost-effectively. With headquarters in Thalwil, 
Switzerland, the company is globally present with offices in Europe, Asia, 
and the USA. 
 
Find us on www.u-blox.com [2], Facebook [3], LinkedIn [4], Twitter @ublox 
[5] and YouTube [6] 
 
*u-blox investor relations contacts:* 
 
*Switzerland and Europe:* 
 
Doris Rudischhauser, c/o Dynamics Group AG 
Phone: +41 79 410 81 88 
E-mail: dru@dynamicsgroup.ch 
 
*US:* 
 
Jeehae Linford, c/o The Equity Group Inc. 
Phone: +1 (404) 840-3122 
E-mail: jlinford@equityny.com 
 
*u-blox AG* 
Zürcherstrasse 68 
8800 Thalwil 
Switzerland 
Phone +41 44 722 74 44 
Fax +41 44 722 74 47 
info@u-blox.com 
www.u-blox.com [2] 
 
*Disclaimer* 

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November 20, 2020 01:30 ET (06:30 GMT)