TDK Corporation (TDK) announced today that it is offering to purchase all of the outstanding common shares of Magnecomp Precision Technology PLC (SET: MPT) not beneficially owned by TDK at a price of Baht 2.70 per share. The tender offer period will commence from 16 November 2007 to 25 December 2007.
TDK is making the mandatory tender offer in accordance with the regulations of the Securities and Exchange Commission and to assist TDK’s plan to de-list MPT’s securities from the SET within the next 12 months. In addition, TDK may submit the other tender offer to de-list MPT’s securities from the SET after the completion of this tender offer. According to the Agreements made by and between TDK and Magnecomp International Limited and the Letter of Undertaking made by and between TDK and Concorde (PAPEII) Limited, TDK will successfully acquire 83.79% stake of MPT from these two existing shareholders.
Investors and security holders are advised to read the tender offer documents (Form 247-4), which can be viewed at MPT’s website.
About Magnecomp Precision Technology Public Company Limited
Headquartered in Ayutthaya, Thailand, Magnecomp Precision Technology Public Company Limited specializes in designing, developing and manufacturing precision suspension assemblies for the Hard Disk Drive industry with a number of subsidiaries specializing in precision stamping, chemical etching, and additive circuits to support its core business. MPT has manufacturing facilities in both China and Thailand, and a Research and Development Technology Center located in California, USA, in close proximity to its major US customers. For more information, please visit MPT’s website at www.MagnecompPrecision.com.
About TDK Corporation
TDK Corporation (Tokyo Stock Exchange: 6762) is a leading global electronics company based in Japan. It was established in 1935 to commercialize "ferrite," a key material in electronics and magnetic products. TDK Corporation’s current product line includes ferrite materials, electronic components, wireless computer networking products, magnetic heads for HDD, and advanced digital recording media. TDK Corporation is listed on the Tokyo Stock Exchange, New York Stock Exchange and London Stock Exchange.
Press Contact
JayDee Partners Limited
Tel: (66)2661-8803 Fax: (66)2661-8813
Jirayong Anuman-rajadhon,
[email protected]
Magnecomp Precision Technology Tel: (66)3521-5225
Fax: (66)3521-5345 Peter Lim,
[email protected]
Yew Ah Ming,
[email protected]