IN BRIEF: Team gains further shareholder support for Tavistock offer

Team PLC - Jersey-based active fund management firm - Receives further non-binding letters of ...

Alliance News 9 April, 2021 | 3:00PM
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Team PLC - Jersey-based active fund management firm - Receives further non-binding letters of intent from Tavistock shareholders, which represent 91.3 million Tavistock shares, about 15% of the issued share capital of Tavistock. At the end of March, Tavistock confirmed it had been approached by Team to discuss the merits of a possible offer at an exchange ratio of one Team share for every 36 Tavistock shares, implying a value of 2.50p per Tavistock share.

"Team continues to engage with Tavistock shareholders and would encourage those who are supportive of Team being granted due diligence access by the Tavistock board," the company notes in its statement Friday.

Current stock price: 88.00 pence, up 0.6% on Friday

Change since listing in London: down 2.2%

By Evelina Grecenko; evelinagrecenko@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Team PLC Ordinary Shares 18.50 GBX -3.90 -

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