Webdisclosure.com

Search

OHB AG (FRA:OHB) OHB SE: Mitigation plan to minimize possible BREXIT impacts

Directive transparence : information réglementée

02/10/2018 11:39

DGAP-News: OHB SE / Key word(s): Miscellaneous
OHB SE: Mitigation plan to minimize possible BREXIT impacts

02.10.2018 / 11:39
The issuer is solely responsible for the content of this announcement.


OHB System AG, a subsidiary of OHB SE (Prime Standard; ISIN: DE0005936124), has entered into an agreement with the British company Surrey Satellite Technology Ltd. (SSTL) and the European Space Agency (ESA). The parties have reached a preventive agreement which minimises the possible impact of the current Brexit negotiations on the Galileo satellite project and regulates the associated measures.

OHB System AG is prime contractor to the European Commission (EC) for the satellites for the Galileo navigation system, for which ESA acts as procurement authority for the EC; SSTL is supplying the payloads for the satellites in this project.

The parties involved have been exchanging views on the potential impact of Brexit on the project and mitigation opportunities for more than a year. With the mitigation plan now adopted, a sound solution has been found to minimise possible effects. The major part of the services to be provided by SSTL in the Galileo project is not affected by the UK's planned exit from the EU. According to the parties involved, the agreement can be implemented without affecting the original project schedule.


Contact:
Investor Relations
Martina Lilienthal
Tel.: +49 421 - 2020-720
Fax: +49 421 - 2020-613
E-Mail: martina.lilienthal@ohb.de

Corporate Communications
Günther Hörbst
Tel.: +49 421 - 2020-9438
E-Mail: guenther.hoerbst@ohb.de


02.10.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: OHB SE
Karl-Ferdinand-Braun-Str. 8
28359 Bremen
Germany
Phone: +49 (0)421 2020 8
Fax: +49 (0)421 2020 613
E-mail: ir@ohb.de
Internet: www.ohb.de
ISIN: DE0005936124
WKN: 593612
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange

 
End of News DGAP News Service

729623  02.10.2018 

fncls.ssp?fn=show_t_gif&application_id=729623&application_name=news&site_id=symex