Statement of intention not to make an offer
10/01/2025 07:00
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RNS Number : 8185S TowerBrook Capital Partners (U.K.) 10 January 2025
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, 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").
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.
FOR IMMEDIATE
RELEASE
10 January 2025
Statement of intention not to make an offer for Team Internet Group plc
On 7 January 2025, Team Internet Group plc ("Team Internet") announced it was
in receipt of an approach from TowerBrook Capital Partners (U.K.) LLP
("TowerBrook") regarding a possible offer to acquire the entire issued and to
be issued share capital of Team Internet.
TowerBrook today confirms that it does not intend to make an offer for Team
Internet. Accordingly, except with the consent of the Panel on Takeovers and
Mergers (the "Takeover Panel"), TowerBrook, and any person acting in concert
with TowerBrook, is bound by the restrictions under Rule 2.8 of the Code.
Under Note 2 on Rule 2.8 of the Code, TowerBrook, and any person acting in
concert with TowerBrook, reserves the right to set aside the restrictions in
Rule 2.8 of the Code in the following circumstances:
i) with the agreement or recommendation of the board of Team Internet;
ii) following the announcement of a firm intention to make an offer for
Team Internet, by or on behalf of a third party;
iii) 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) or
a reverse takeover (as defined in the Code); and/or
iv) if there has been a material change of circumstances (as determined by
the Takeover Panel).
Enquiries:
Brunswick Group towerbrookuk@brunswickgroup.com (mailto:towerbrookuk@brunswickgroup.com)
Max McGahan / Sam Durant
Important notices
This announcement is not intended to, and does not, constitute or form part of
any offer, invitation or the solicitation of an offer to purchase, otherwise
acquire, subscribe for, sell or otherwise dispose of, any securities or the
solicitation of any vote, in any jurisdiction whether pursuant to this
announcement or otherwise.
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outside the United Kingdom may be restricted by law and therefore persons into
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observe such restrictions. Any failure to comply with such restrictions may
constitute a violation of the securities law of any such jurisdiction.
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