Sale Of Shares In Auction Technology Group plc
TA Associates sells 12.6% stake in ATG at £5.50 per share; Morgan Seigler to resign from board.
- Shares sold 15,337,625
- Sale price per share £5.50
- Percentage of issued capital 12.6%
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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.
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