Business
Statement re Possible Offer for TT Electronics Plc
DBAY Advisors Limited has announced it is considering a possible offer for TT Electronics Plc, stating that the terms of Cicor Technologies Ltd's recommended offer are unattractive and that DBAY intends to vote against it. DBAY currently holds approximately 24.5% of TT Electronics' issued ordinary share capital, representing 43,717,928 shares. If an offer is made, DBAY would be required to offer at least 149 pence per share in cash. The company has been granted due diligence access by TT Electronics' board, but there is no certainty an offer will be made. Disclaimer*
About this update from Tt Electronics Plc
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION\nTHIS IS AN ANNOUNCEMENT FALLING 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 AN OFFER WILL BE MADE.\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE UK VERSION OF THE MARKET ABUSE REGULATION (EU 596/2014) WHICH IS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. \nFOR IMMEDIATE RELEASE\n \n9 December 2025\nDBAY Advisors Limited (\"DBAY\")\nStatement regarding a possible offer for TT Electronics Plc (\"TT Electronics\" or the \"Company\")\nFollowing the publication of the scheme document in relation to the recommended offer for TT Electronics by Cicor Technologies Ltd (\"Cicor\") on 25 November 2025 in connection with the court and general meetings to be held on 17 December 2025, DBAY believes that the terms of Cicor's offer as set out in the scheme document are unattractive, and DBAY therefore intends to vote against the scheme of arrangement.\nDBAY also announces that it is considering a possible offer for the entire issued and to be issued ordinary shares of TT Electronics (save for those already owned by funds managed or advised by DBAY). \nDBAY has been granted access to due diligence by the board of TT Electronics, but there can be no certainty that any offer for the Company will be made. A further announcement will be made as appropriate.\nAs at today's date, DBAY holds an interest in 43,717,928 ordinary shares of TT Electronics, representing approximately 24.5 per cent. of TT Electronics' issued ordinary share capital. Pursuant to Rule 2.4(c)(iii) of the Code, if DBAY were to make an offer, under Rule 11 of the Code DBAY would be required to make an offer at no less than 149 pence per share in cash.\nIn accordance with Rule 2.6(d) and Section 4 of Appendix 7 of the Code, the Panel will announce the deadline by which DBAY is required to do one of the following: (i) announce a firm intention to make an offer for TT Electronics in accordance with Rule 2.7 of the Code; or (ii) announce that it d...