REG - Big Technologies PLC - Update re: CEO Dismissal

Big TechnologiesAnnouncement

03/04/2025 07:00

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RNS Number : 4301D  Big Technologies PLC  03 April 2025

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic
law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

Big Technologies plc
("Big Technologies" or the "Company" and the "Group")

Update re: CEO Dismissal

The Company confirms that it has notified the Panel on Takeovers and Mergers
(the "Panel") in relation to the matters previously announced by the Company
on 21 March 2025 and 31 March 2025.

As previously announced, the Company has concluded that Sara Murray:

-     has or had a previously undisclosed interest in, or relationship
with, Zinc Limited, Monitoring Partners Limited, RCP Limited and Romelle
Limited (the "Relevant Entities") who, immediately following the Company's IPO
and admission to AIM on 28 July 2021 ("Admission"), held ordinary shares in
the Company ("BIG Shares") representing approximately 17.7% of the Company's
issued share capital at that time, and which represent a holding of
approximately 17.3% now. The Company is not aware of any changes to the number
of BIG Shares or interest in BIG Shares held by any of the Relevant Entities
since Admission; and

 

-     failed to disclose her interests in, and relationship with, the
Relevant Entities in the context of Admission.

Separately to the Relevant Entities, Sara Murray:

 

-     held BIG Shares representing approximately 25.3% of the Company's
issued share capital at Admission;

 

-     is presumed to be acting in concert with her sister, Judith Murray,
who held 600,000 BIG Shares at Admission representing approximately 0.21% of
the Company's issued share capital at that time (resulting in an aggregate
shareholding of 25.51%); and

 

-     since Admission, has acquired further interests in BIG Shares, and
therefore, so far as the Company is aware, currently personally holds BIG
Shares representing approximately 26.8% of the Company's issued share capital.

The notification to the Panel was made, among other reasons, because the facts
and circumstances above potentially engage Rule 9 of the City Code on
Takeovers and Mergers (the "Code") which, except with the consent of the
Panel, requires a mandatory offer to be made on the basis set out in the Code
to shareholders generally by any person who (together with persons acting in
concert with them) is interested in shares which in aggregate carry between
30% and 50% of the voting rights of a company where that person (or any person
acting in concert with them) acquires an interest in any other shares which
increases the percentage of shares carrying voting rights in which that person
is interested.

The Company will provide further updates as appropriate.

For further information please contact:

 Big Technologies                                  +44 (0) 19 2360 1910
 Alexander Brennan (Chairman)

 Daren Morris (Interim Chief Executive Officer)
 Zeus (Nominated Adviser and Sole Broker)          +44 (0) 20 3829 5000
 Dan Bate / Kieran Russell (Investment Banking)

 Benjamin Robertson (Equity Capital Markets)

 

 

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