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PROPOSED SALE OF SHARES - AUCTION TECHNOLOGY GROUP
PROPOSED SALE OF SHARES - AUCTION TECHNOLOGY GROUP.
About this update from Auction Technology Group Plc
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, INTO OR IN THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW. THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM AN OFFER FOR SALE OF, OR THE SOLICITATION OF AN OFFER TO BUY, THE SECURITIES REFERRED TO HEREIN IN ANY JURISDICTION, INCLUDING THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW.\nPLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.\nPROPOSED PLACING OF ORDINARY SHARES IN AUCTION TECHNOLOGY GROUP PLC (\"ATG\" OR THE \"COMPANY\") REPRESENTING APPROXIMATELY 5.0% OF THE COMPANY'S ISSUED SHARE CAPITAL\n27 June 2024\nTA Associates announce its intention to sell ordinary shares of 0.01 pence each (the \"Placing Shares\") representing approximately 5.0% of the Company's issued share capital through a placing to institutional investors (the \"Placing\").\nThe Placing Shares will be sold by TA Associates through its sub-funds TA XIII-A L.P., TA XIII-B L.P., TA Investors XIII L.P., TA Investors IV EU AIV L.P. and TA Subordinated Debt Fund IV L.P. (together, the \"Sellers\").\nTA Associates currently owns approximately 17.6% of the Company's issued share capital, corresponding to approximately 21.4 million shares.\nThe price per Placing Share will be determined by way of an accelerated bookbuilding process to institutional investors. The bookbuilding period will commence immediately following this announcement, and may close at any time on short notice. J.P. Morgan Securities plc (\"J.P. Morgan\"), which conducts its UK investment banking activities as J.P. Morgan Cazenove (\"J.P. Morgan Cazenove\") is acting as sole global coordinator and sole bookrunner in connection with the Placing.\nThe Sellers will be locked up in respect of their residual holdings until 60 days post settlement of the Placing, subject to customary exceptions.\nThe final number of Placing Shares to be placed will be agreed by J.P. Morgan Cazenove and the Sellers at the close of the bookbuilding process, and the results of the Placing will be announced as soon as practicable thereafter.\nATG will not receive any proceeds from the Placing.\nEnquiries\n\n\n\n\nJ.P...