Business
Support to reject any possible offer by TEAM plc
Support to reject any possible offer by TEAM plc.
About this update from Tavistock Investments Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 4777V\n Tavistock Investments PLC\n 14 April 2021\n \n \n \n NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.\n \n \n \n CERTAIN INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 AS AMENDED BY MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n TEAM PLC HAS NOT ANNOUNCED A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE \"CODE\") AND THERE CAN BE NO CERTAINTY THAT AN OFFER WILL BE MADE, NOR AS TO THE TERMS ON WHICH ANY OFFER MIGHT BE MADE.\n \n \n \n Tavistock Investments Plc\n \n \n \n \n \n (\"Tavistock\" or the \"Company\")\n \n \n \n \n \n Statements of intent from shareholders to reject any possible offer by TEAM plc\n \n \n 14 April 2021\n \n \n The Board of Tavistock announces that it has received letters from a number of shareholders stating their intention to reject the possible all share offer by TEAM plc (\"TEAM\") for the issued and to be issued share capital of Tavistock (the \"Possible Offer\"). \n \n \n \n \n \n These letters of intent (which are non-binding) represent, in aggregate, 24.88% of the Company's issued share capital. In addition, the Board of Tavistock, who beneficially own, in aggregate, 97,337,016 Tavistock Shares, representing 16.01% of the Company's issued share capital, would also not be minded to recommend or accept any offer from TEAM were one to be made at the level of the Possible Offer. Accordingly, taking the Board of Tavistock's holdings together with the shares in respect of which the Company has received indications of intent, this represents 40.90% of the Company's issued share capital that would not accept an offer were one to be made at the level of the Possible Offer. \n \n \n \n \n \n Since announcing the Possible Offer on 23 March 2021, TEAM has, to date, announced that it has received non-binding letters of intent and a...