Payton Planar Magnetics ( “”) reports on status of activity following Coronavirus outbreak impact : Payton Planar Magnetics Ltd. (the “Company”) reports on the status of the group's activity following the Coronavirus outbreak's impact.

Payton Planar Magnetics Ltd. (the 'Company') reports on the status of the group's activity following the Coronavirus outbreak's impact.

13 Feb 2020 14:39 CET

Company Name

PAYTON PLANAR

ISN

IL0010830391

Market

Euronext

Symbol

PAY

The Company announces that although the Chinese New Year's holiday was scheduled to end on February 10, 2020 (a week later from its original date, due to Chinese government instructions), according to inquiries made by the Company with its suppliers and subcontractors in China, at this stage, there is only a partial return to activity which is expected to continue in the coming weeks.

Disruption of operation in China due to the spread of the Coronavirus may affect the Company both due to delays of raw materials and transformers supplied by the group's suppliers and subcontractors; and also delays of purchases by the Company's customers due to the fact that a significant part of them assemble and manufacture their final products at various facilities in China or rely on other China origin raw materials supply.

Since there is still a great deal of uncertainty as to when China's operations will fully return to normal, the Company cannot currently assess the outbreak's impact of continued disruption of operation in China.

The Group continues to closely monitor the situation among its customers, suppliers and subcontractors and will keep abreast of developments as needed.

The information presented in this press release, including the assessments set forth therein, includes forward-looking statement that is not under the Company's control based on recent information received by the Company and the Company's estimates at the reporting date. Such information and assessments may not be realized due to factors that are currently unknown and / or not controlled by the Company, including the spread of the Coronavirus and its impact on the Company's activities and / or related factors. It should be clarified that these estimates are not certain, in whole or in part, and may differ materially from what was anticipated.

For more information, please visit Payton's web site at www.paytongroup.com or contact Michal Lichtenstein, CFO at [phone] [e-mail] or Nathalie Verbeeck at Citigate Dewe Rogerson Belgium + 32 (0) 477 45 75 41 [e-mail]>

About us

Payton Planar Magnetics Ltd., an Israeli-based high-tech company, designs, manufactures and markets Planetics®, its customized line of planar transformers, conventional transformers and inductors to Original Equipment Manufacturers and their suppliers of power electronics. The group currently employs about 180 people (including executive officers). Planar Magnetic Components are used in end products in various industries, including telecommunications, automotive, cellular infrastructure, Military/Avionics, portable equipment and consumer goods. Planar Magnetics is a revolutionary design technology that is superior to conventional transformers and inductors, and has already been accepted by electronics design engineers as the state-of-the-art in high frequency power electronics design. Payton Planar Magnetics is a subsidiary of Payton Industries, headquartered in Israel, and has manufacturing and marketing operations in Israel, U.K. and United States. Payton Planar Magnetics is publicly traded on the Euronext stock exchange in Brussels (ticker: PAY).

PR_13.2.20_Coronavirus.pdf

Source

Payton Planar Magnetics

Provider

Euronext