REG - Verdane Freya XI Inv Team Internet Group - Statement of intention not to make an offer

Team InternetAnnouncement

04/03/2025 07:00

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RNS Number : 1777Z  Verdane Freya XI Investments AB  04 March 2025

 

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY (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 SUCH JURISDICTION

 

THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.8 OF THE CITY CODE ON TAKEOVERS
AND MERGERS (THE "CODE")

 

FOR IMMEDIATE RELEASE

 

4 March 2025

 

Verdane Fund Manager AB

 

Statement regarding possible offer for Team Internet Group plc ("Team
Internet")

 

Further to the announcement made by Team Internet on 4 February 2025, Verdane
Fund Manager AB, in its capacity as manager of Verdane Freya XI Investment AB,
("Verdane") confirms that it does not intend to make an offer for Team
Internet.

 

This is a statement to which Rule 2.8 of the Code applies.

Under Note 2 on Rule 2.8 of the Code, Verdane, and any person(s) acting in
concert with it, reserves the right to set the restrictions in Rule 2.8 of the
Code aside in the following circumstances:

(a)        with the agreement of the board of directors of Team
Internet;

(b)        following the announcement of a firm intention to make an
offer for Team Internet by or on behalf of a third party;

(c)        following the announcement by Team Internet of a Rule 9
waiver proposal (as described in Note 1 of the Notes on Dispensations from
Rule 9 of the Code) or a reverse takeover (as defined in the Code); or

(d)        where the Takeover Panel has determined that there has been
a material change of circumstances.

 

Enquiries:

 

 Verdane Fund Manager AB  Tel: +44 7462 607105

 Emanuel Johnsson

 

 

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