REG - Peel Hunt LLP Auction Technology - SALE OF SHARES IN AUCTION TECHNOLOGY GROUP PLC

Auction TechnologyAnnouncement

12/12/2024 07:00

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RNS Number : 7726P  Peel Hunt LLP  12 December 2024

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE
OR IN PART, INTO OR IN ANY 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 IN WHICH OFFERS OR SALES WOULD BE
PROHIBITED BY APPLICABLE LAW.

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) No. 596/2014, as it forms part of UK domestic
law by virtue of the European Union (Withdrawal) Act 2018 (as amended).

SALE OF ORDINARY SHARES IN AUCTION TECHNOLOGY GROUP PLC BY TA ASSOCIATES, INC.

12 December 2024: TA Associates, Inc., 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. ("TA Associates", the "Sellers"), today
announces that it has agreed to sell, subject to completion, 15,337,625
ordinary shares ("Ordinary Shares") in Auction Technology Group plc (the
"Company") at a price of £5.50 per Ordinary Share (the "Sale"). Completion of
the Sale is expected to take place on 20 December 2024.

The Sellers currently own 15,337,625 Ordinary Shares, corresponding to
approximately 12.6 per cent. of the Company's entire issued share capital.

Following the completion of the Sale, the Sellers will no longer have an
interest in Ordinary Shares of the Company. In accordance with the
relationship agreement between the Sellers and the Company dated 17 February
2021, Morgan Seigler will resign from the Board of Directors of the Company
following completion of the Sale.

The Company will not receive any proceeds from the Sale.

 

ENQUIRIES

Peel Hunt

Sohail Akbar / Neil Patel / Kate Bannatyne

+44 (0) 20 7418 8900

 

Deutsche Numis

Nick Westlake / William Baunton / Tejas Padalkar

+44 (0) 20 7260 1000

 

IMPORTANT NOTICE

Peel Hunt is authorised and regulated by the Financial Conduct Authority
("FCA") in the UK. Peel Hunt is acting for the Sellers only in connection with
the Sale and no one else, and will not be responsible to anyone other than the
Sellers for providing the protections offered to clients nor for providing
advice in relation to the Ordinary Shares or the Sale, the contents of this
announcement or any transaction, arrangement or other matter referred to in
this announcement.

Numis Securities Limited, trading as Deutsche Numis, is authorised by the FCA.
Deutsche Numis is acting for the Sellers only in connection with the Sale and
no one else, and will not be responsible to anyone other than the Sellers for
providing the protections offered to clients nor for providing advice in
relation to the Ordinary Shares or the Sale, the contents of this announcement
or any transaction, arrangement or other matter referred to in this
announcement.

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