Business
Response to Press Speculation
Pinewood Technologies Group PLC has confirmed discussions with Apax Partners LLP regarding a potential cash offer of 500 pence per share, which includes an unlisted partial share alternative. The Board of Pinewood.AI has indicated it would recommend this offer to shareholders if a firm intention is announced, subject to due diligence and agreement on terms. Apax has until February 26, 2026, to make a firm offer or withdraw its interest. As of January 29, 2026, Pinewood.AI had 115,099,977 ordinary shares of £1.00 each in issue. Disclaimer*
About this update from Pinewood Technologies Group Plc
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.\n \nTHIS IS AN ANNOUNCEMENT UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE \"CODE\") AND DOES NOT CONSTITUTE AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CODE. THERE CAN BE NO CERTAINTY THAT ANY FIRM OFFER WILL BE MADE.\n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\n \nFOR IMMEDIATE RELEASE\n \n \n \n29 January 2026\n \nPinewood Technologies Group PLC (\"Pinewood.AI\" or the \"Company\")\n \nResponse to Press Speculation\n \nThe Board of Pinewood.AI notes the recent press speculation regarding Pinewood.AI and confirms that it has entered into discussions with Apax Partners LLP (\"Apax\") regarding a possible cash offer of 500 pence per share for the entire issued and to be issued share capital of Pinewood.AI (the \"Possible Offer\") by Apax. As an alternative to receiving cash, the Possible Offer will include an unlisted partial share alternative.\n \nThis Possible Offer follows a number of earlier approaches from Apax to the Board regarding a possible cash offer for Pinewood.AI.\n \nHaving carefully considered the terms of the Possible Offer together with its advisers, the Board of Pinewood.AI has concluded that the Possible Offer is at a value that it would be minded to recommend to Pinewood.AI shareholders should a firm intention to make an offer pursuant to Rule 2.7 of the Code be announced on such financial terms, subject to agreement of all other terms and conditions of an offer and completion by Apax of confirmatory due diligence.\n \nThere can be no certainty that any firm offer will be made. A further announcement will be made if and when appropriate.\n \nIn accordance with Rule 2.6(a) of the Code, Apax is required, by not later than 5.00 p.m. (London time) on 26 February 2026, to do one of the following: (i) announce a firm intention to make an offer for Pinewood.AI in accordance with Rule 2.7 of the Code ; or (ii) announce that it does not intend to make an offer for Pinewood.AI, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. ...