No intention to make an offer for M&C Saatchi plc
AdvancedAdvT Limited has announced that its Chairperson, Vin Murria, has been appointed to the board of M&C Saatchi plc as non-executive deputy chair, and consequently, AdvancedAdvT does not intend to make an offer for M&C Saatchi. This statement, made under Rule 2.8 of the City Code on Takeovers and Mergers, binds AdvancedAdvT and its concert parties from making a further offer for six months, unless certain conditions are met, such as M&C Saatchi's board agreement or a competing offer. As of March 6, 2026, Vin Murria held 11.8% of M&C Saatchi's shares, and AdvancedAdvT held 9.8%.
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The Board of AdvancedAdvT Limited (AIM: ADVT) (the "Company") announces that Vin Murria, Chairperson, has been appointed to the board of M&C Saatchi plc ("M&C Saatchi") as non-executive deputy chair, and that it does not intend to make an offer for M&C Saatchi.
Accordingly, except with the consent of the Panel on Takeovers and Mergers (the "Takeover Panel"), ADVT and any person acting in concert with ADVT (including Vin Murria who is considered as a person acting in concert with ADVT), is bound by the restrictions under Rule 2.8 of the Code.
Under Note 2 on Rule 2.8 of the Code, AdvT, and any person acting in concert with AdvT (including Vin Murria who is considered as a person acting in concert with ADVT), reserves the right to set aside the restrictions in Rule 2.8 of the Code in the following circumstances:
- with the agreement or recommendation of the board of M&C Saatchi;
- following the announcement of a firm intention to make an offer for M&C Saatchi, by or on behalf of a third party;
- following the announcement by M&C Saatchi of a Rule 9 waiver proposal (as described in Note 1 of the Notes on Dispensations from Rule 9) 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).
As at 6 March 2026, Vin Murria held 14,437,452 ordinary shares in M&C Saatchi (being 11.8% of M&C Saatchi's issued share capital), Vin Murria is also Chairperson and a substantial shareholder in AdvT. AdvT holds 12,000,000 ordinary shares in M&C Saatchi (being 9.8% of M&C Saatchi's issued share capital).
AdvancedAdvT Limited (AdvT) provides software solutions and platforms across two business transformational areas: business solutions & healthcare compliance, and human capital management.
AdvT is an agent for change. The Group enables the delivery of Artificial Intelligence ("AI"), data analytics and business intelligence, all of which are key future drivers for growth in these sectors where long term digitisation trends are set to transform the workplace for professionals.
AdvT is developing both organically and through acquisitions, by expanding its presence across adjacent markets, geographical boundaries and digital sectors.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.