Business
Acquisition of further shares in Tribal Group plc
Acquisition of further shares in Tribal Group plc.
About this update from Tribal Group Plc
[{"type":"text","content":"\n\nNOT 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 THAT JURISDICTION\nTHIS ANNOUNCEMENT RELATES TO THE RECOMMENDED CASH OFFER FOR TRIBAL GROUP PLC, TO BE IMPLEMENTED BY SCHEME OF ARRANGEMENT, ANNOUNCED UNDER RULE 2.7 OF THE TAKEOVER CODE\nFOR IMMEDIATE RELEASE\n21 November 2023\nJenzabar, Inc.\nAcquisition of further shares in Tribal Group plc\nFurther to its announcement yesterday, Jenzabar, Inc. (\"Jenzabar\") confirms that it has agreed to acquire a further 11,663,313 shares in Tribal Group plc (\"Tribal\"), increasing its aggregate ownership to 56,139,342 shares, which represents 26.45% of Tribal's issued share capital.\nAs previously stated, Jenzabar strongly opposes the offer announced by Ellucian Company L.P. (\"Ellucian\") on 5 October 2023 to acquire the entire issued and to be issued share capital of Tribal at 74 pence per share by way of a scheme of arrangement (the \"Ellucian Offer\") and will vote all of its shares against the Ellucian Offer in any general meeting or other shareholder vote undertaken by Tribal to effect its implementation.\nEnquiries:\nFor further information contact:\nGreenhill (Financial Adviser to Jenzabar) +44 20 7198 7400\nDean Rodrigues \nDavid Wyles\n \nPeel Hunt (Sole Executing Broker to Jenzabar) +44 20 7418 8900\nRichard Chambers\nEquity Syndicate - Jock Maxwell Macdonald/ Sohail Akbar\n \nImportant notice\nGreenhill & Co. International LLP (\"Greenhill\"), which is authorised and regulated by the Financial Conduct Authority in the United Kingdom, is acting as financial adviser exclusiv...