Statement regarding Pinewood Technologies Group
Apax Partners withdraws possible cash offer for Pinewood Technologies due to challenging market conditions.
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On 29 January 2026, Pinewood.AI announced a possible cash offer for Pinewood.AI by Apax Partners LLP ("Apax").
In light of the prevailing challenging market conditions, Apax confirms that it does not intend to make an offer for the Company. Accordingly, Apax and any person acting in concert with it, except with the consent of the Panel on Takeovers and Mergers (the "Panel"), is bound by the restrictions under Rule 2.8 of the Code.
Apax, and any person acting in concert with Apax, reserves the right to announce an offer or possible offer for the Company or make or participate in an offer or possible offer for the Company and/or take any other action otherwise precluded under Rule 2.8 of the Code within six months of the date of this announcement in the following circumstances:
- with the agreement of the Board of Pinewood.AI;
- if a third party announces a firm intention to make an offer for Pinewood.AI;
- if Pinewood.AI announces a Rule 9 waiver proposal (see Note 1 of the Notes on Dispensations from Rule 9 of the Code) or a reverse takeover (as defined in the Code); and/or
- if there has been a material change of circumstances (as determined by the Takeover Panel).
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.