REG - Mortgage Adv. Bureau - Changes to concert party

Mortgage Advice Bureau (Holdings)Announcement

06/02/2026 14:45

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RNS Number : 1139S  Mortgage Advice Bureau (Hldgs) PLC  06 February 2026

6 February 2026

Mortgage Advice Bureau (Holdings) plc

("MAB" or the "Group")

 

Changes to concert party

 

Mortgage Advice Bureau (Holdings) plc (AIM: MAB1.L), a leading
technology-driven UK mortgage network and broker provides an update on
changes to the shareholder concert party established at IPO.

 

Under the UK City Code on Takeovers and Mergers (the "Code"), a concert party
arises where persons, under an agreement or understanding (whether formal or
informal), cooperate to obtain or consolidate 'control' (as defined in the
Code) of the company or to frustrate the successful outcome of an offer for
the company. Certain persons will be presumed, as set out in the definitions
of the Code, to be acting in concert with other persons in the same category
unless the contrary is demonstrated, including shareholders in a private
company who, following the re-registration of that company as a public company
in connection with an initial public listing of that company, become
shareholders of a company to which the Code applies.

 

At the time of admission to the London Stock Exchange (and as detailed in the
Company's 2014 AIM Admission Document), the Company agreed with the UK Panel
on Takeovers and Mergers (the "Panel") that a concert party existed comprising
Peter Brodnicki, David Preece, Paul Robinson, and Michelle Draycott (the "IPO
Concert Party"). On 27 April 2016 the Company announced that it had been
agreed with the Takeover Panel that Michelle Draycott no longer formed part of
the IPO Concert Party as she no longer held an executive role at the Company,
had materially diluted economic interests, and had no continuing influence
over company decision-making. On 22 January 2018 the Company announced that it
had been agreed with the Takeover Panel that Paul Robinson no longer formed
part of the IPO Concert Party as he no longer held an executive role at the
Company, had materially diluted economic interests, and had no continuing
influence over company decision-making.

 

The Company has now agreed with the Panel that David Preece, who ceased to be
a Director of the Company on 21 May 2025, should no longer be treated as
acting in concert with Peter Brodnicki. Accordingly, there is no longer a
concert party comprising the founders of the Company. Peter Brodnicki
currently holds 10,401,557 shares in the Company (representing 17.9% of issued
share capital).

 

Under Rule 9 of the Code, any person who acquires an interest in shares which,
taken together with shares in which that person or any person acting in
concert with that person is interested, carry 30% or more of the voting rights
of a company which is subject to the Code is normally required to make an
offer to all the remaining shareholders to acquire their shares.

 

 

Enquiries:

 Mortgage Advice Bureau (Holdings) plc             Via Camarco

 Peter Brodnicki, Chief Executive Officer

 Emilie McCarthy, Chief Financial Officer
 Nominated Adviser and Joint Broker

 Keefe, Bruyette & Woods, a Stifel Company           +44 (0) 20 7710 7600

 Erik Anderson / Jason Grossman / Francis North

 Joint Broker

 Berenberg                                         +44 (0) 20 3207 7800

 James Felix / Michael Burke / Dan Gee-Summons

 Joint Broker

 Peel Hunt LLP                                     +44 (0) 20 7418 8900

 Andrew Buchanan / Thomas Philpot / Rob Parker

 Media Enquiries

 Camarco                                           mab@camarco.co.uk

 Tom Huddart / Letaba Rimell

 Investor Relations                                Investor.relations@mab.org.uk

 

About MAB:

MAB is one of the UK's leading consumer intermediary brands and specialist
networks for mortgage advisers.

Through its partner firms known as Appointed Representatives (ARs), MAB has
over 2,000 advisers providing expert advice to customers on a range of
mortgage, specialist lending, protection, and general insurance products. MAB
supports its AR firms with proprietary technology and services, including
adviser recruitment and lead generation, learning and development, compliance
auditing and supervision, and digital marketing and website solutions.

For more information, visit www.mortgageadvicebureau.com
(https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Furldefense.proofpoint.com%2Fv2%2Furl%3Fu%3Dhttp-3A__www.mortgageadvicebureau.com_%26d%3DDwMF-g%26c%3DeuGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM%26r%3DNj006SAhpfJGzqX7TkdnFCOXt8K8HLR6t-m0tfk0sKk%26m%3DgFRfhF8o351YluA18Bjv7ycyKw7h2VVplazDY2IEW0sQ8C0AaYe1Qup_V9gmZQNd%26s%3DKfp85WcIcWHD48Cv6_MtN85WTzPhbcPhgoql1Us5h60%26e%3D&data=05%7C02%7CLetaba.Rimell%40camarco.co.uk%7C49fa9aa74f034fc9a49108dcfff2bf39%7C77a5f6209d7747dba0cd64c70948d532%7C1%7C0%7C638666665356187099%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=OvOcJHyFYzHfR6M9dFsyhwxgXQbIjrac6cGpXoERDmo%3D&reserved=0)

 

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