Statement regarding speculation

The Board of MindGym (LSE: MIND) notes the recent press speculation about the Company.

The Board confirms it is in discussions with selected third parties as part of a private strategic review process (the "Strategic Review") that may, amongst other possible outcomes, result in a possible offer for the entire issued and to be issued share capital of the Company in accordance with the Takeover Code (the "Code").

These discussions are at an early stage and there can be no certainty that an offer will be made for Company nor as to the terms on which any such offer might be made.

Shareholders are urged to take no action at this time.

As part of the Strategic Review, the Board has appointed J Goodwin & Co LLP as financial advisor and is considering a variety of strategic options, including: entering into joint ventures or other forms of commercial partnerships; making further acquisitions; selling or demerging a part of the Company's group's business; returning capital to shareholders; changing the Company's strategy and/or management arrangements; selling the Company's subsidiaries; and/or soliciting an offer for the entire issued and to be issued share capital of the Company in accordance with the Code.

The Takeover Panel Executive has granted a dispensation from the requirement of Rules 2.4 (a) and (b) of the Code such that MindGym is not required to identify any potential offeror with which the Company is in talks, or from which an approach has been received, unless that potential offeror has been specifically identified in any rumour or speculation.

As a consequence of this announcement, an "offer period" has now commenced in respect of MindGym in accordance with the Code and the attention of shareholders is drawn to the disclosure requirements of Rule 8 of the Code, which are summarised below.

Further announcements will be made in respect of the Strategic Review as and when appropriate.

MindGym is a company that delivers business improvement solutions using scalable, proprietary products which are based on behavioural science. The Group operates in three global markets: business transformation, human capital management and learning & development.

MindGym is listed on the London Stock Exchange Alternative Investment Market (ticker: MIND.L) and headquartered in London. The business has offices in London, New York and Singapore.

Rule 2.9 disclosure

Website publication

MAR