most important thing we build is trust Presentation to Cobham Investors - Voluntary Offer for Thrane & Thrane A/S 10 April 2012 Cobham plc 1 Transaction Overview • Voluntary public tender offer to the shareholders and warrant holders of Thrane & Thrane • DKK 420 per share in cash, valuing the equity of Thrane & Thrane at DKK 2,419m (approx £270m), consistent with level proposed to Thrane & Thrane Board • 43% premium to undisturbed price1 • Cobham already holds 1,453,795 shares (25.6% per...