REG - K3 Bus Tech Grp PLC - Result of Tender Offer

K3 Business TechnologyAnnouncement

21/07/2025 11:15

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RNS Number : 8873R  K3 Business Technology Group PLC  21 July 2025

This release contains inside information within the meaning of Article 7(1) of
the EU Market Abuse Regulation (2014/596/EU), or EU MAR, and of the UK version
of EU MAR as it forms part of UK law by virtue of the European Union
(Withdrawal) Act (as amended).

 

K3 BUSINESS TECHNOLOGY GROUP PLC

("K3" or "the Group" or "the Company")

Result of Tender Offer

 

K3, which provides business-critical software solutions focused on fashion and
apparel brands, announces the results of the Tender Offer set out in the
circular published by the Company on 2 July 2025 (the "Circular"), which
closed at 1.00 p.m. on 18 July 2025. The Tender Price was 85 pence per Share.

The Company offered to purchase up to a maximum of 34,117,647 Shares (being
approximately 74.3 per cent. of the Company's existing issued share capital)
under the Tender Offer. In total, 33,797,331 Shares were validly tendered
under the Tender Offer through Qualifying Shareholders' Basic Entitlements as
well as excess applications received in respect of 10,144,370 Shares through
excess tenders. As such, the total number of Shares being acquired by the
Company is the maximum of 34,117,647. All valid tenders were satisfied in full
pursuant to their Basic Entitlement (rounded down to the nearest whole number
of Shares) and excess applications were satisfied based on a percentage
proportion of the total excess tenders received, with 320,316 Shares accepted
pursuant to excess tenders.

It is expected that cheques will be despatched and CREST accounts will be
credited with proceeds in respect of successfully tendered shares on or before
28 July 2025.

The 34,117,647 Shares tendered under the Tender Offer will be repurchased by
the Company under the Repurchase Agreement and cancelled.

The ordinary issued share capital of the Company following the purchase will
be 11,814,732 (with no ordinary shares held in treasury). The total voting
rights in the Company following the purchase and cancellation will be
11,814,732.

The figure of 11,814,732 may be used by Shareholders as the denominator for
the calculations by which they will determine if they are required to notify
their interest in, or a change to their interest in, the Company under the
FCA's Disclosure Guidance and Transparency Rules.

The Company reminds Shareholders of the expected timetable of principal events
as follows:

 CREST accounts settled in respect of unsold tendered Shares held in             22 July
 uncertificated form

 Payments through CREST made in respect of Shares held in uncertificated form    by 28 July
 successfully tendered
 Cheques despatched in respect of Shares held in certificated form successfully  by 28 July
 tendered
 Balancing certificates despatched in respect of unsold tendered Shares held in  by 28 July
 certificated form
 Last day of dealings in the Shares on AIM                                       29 July
 Cancellation of admission of the Shares to trading on AIM                       30 July

 

Unless otherwise defined, capitalised terms in this announcement shall have
the meaning set out in the Circular.

 

Enquiries:

 K3 Business Technology Group plc       Oliver Scott, Chairman                           T: c/o 020 3178 6378
 www.k3btg.com (http://www.k3btg.com/)  Eric Dodd, Chief Executive Officer

 Cavendish Capital Markets              Julian Blunt/ Callum Davidson/Trisyia Jamaludin  T: 020 7220 0500

 (NOMAD & Broker)                       (Corporate Finance)

                                        Sunila De Silva

                                        (Corporate Broking)

 KTZ Communications                     Katie Tzouliadis/ Robert Morton                  T: 020 3178 6378

 

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