NOT
FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY,
IN WHOLE OR IN PART, INTO OR IN ANY JURISDICTION IN WHICH OFFERS OR
SALES WOULD BE PROHIBITED BY APPLICABLE LAW. THIS ANNOUNCEMENT DOES
NOT CONSTITUTE OR FORM AN OFFER FOR SALE OF, OR THE SOLICITATION OF
AN OFFER TO BUY, THE SECURITIES REFERRED TO HEREIN IN ANY
JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY
APPLICABLE LAW.
This
announcement contains inside information for the purposes of
Article 7 of the Market Abuse Regulation (EU) No. 596/2014, as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 (as amended).
SALE
OF ORDINARY SHARES IN AUCTION TECHNOLOGY GROUP PLC BY TA
ASSOCIATES, INC.
12
December 2024: TA Associates, Inc.,
through its sub-funds TA XIII-A L.P., TA XIII-B L.P., TA Investors
XIII L.P., TA Investors IV EU AIV L.P. and TA Subordinated Debt
Fund IV L.P. ("TA Associates", the "Sellers"), today announces that
it has agreed to sell, subject to completion, 15,337,625 ordinary
shares ("Ordinary Shares") in Auction Technology Group plc (the
"Company") at a price of £5.50 per Ordinary Share (the "Sale").
Completion of the Sale is expected to take place on 20 December
2024.
The Sellers currently own 15,337,625
Ordinary Shares, corresponding to approximately 12.6 per cent. of
the Company's entire issued share capital.
Following the completion of the Sale,
the Sellers will no longer have an interest in Ordinary Shares of
the Company. In accordance with the relationship agreement between
the Sellers and the Company dated 17 February 2021, Morgan Seigler
will resign from the Board of Directors of the Company following
completion of the Sale.
The Company will not receive any
proceeds from the Sale.
ENQUIRIES
Peel Hunt
Sohail Akbar / Neil Patel / Kate
Bannatyne
+44 (0) 20 7418 8900
Deutsche Numis
Nick Westlake / William Baunton /
Tejas Padalkar
+44 (0) 20 7260 1000
IMPORTANT NOTICE
Peel Hunt is authorised and regulated
by the Financial Conduct Authority ("FCA") in the UK. Peel Hunt is acting
for the Sellers only in connection with the Sale and no one else,
and will not be responsible to anyone other than the Sellers for
providing the protections offered to clients nor for providing
advice in relation to the Ordinary Shares or the Sale, the contents
of this announcement or any transaction, arrangement or other
matter referred to in this announcement.
Numis Securities Limited, trading as
Deutsche Numis, is authorised by the FCA. Deutsche Numis is acting
for the Sellers only in connection with the Sale and no one else,
and will not be responsible to anyone other than the Sellers for
providing the protections offered to clients nor for providing
advice in relation to the Ordinary Shares or the Sale, the contents
of this announcement or any transaction, arrangement or other
matter referred to in this announcement.