Disclosure under Rule 2.10(c) of the Takeover Code
Cicor Technologies Ltd. has provided an update on irrevocable undertakings and letters of intent regarding its recommended cash and share acquisition of TT Electronics PLC. Aberforth Partners LLP's non-binding letter of intent now covers 14,253,869 TT Shares, representing approximately 8.00% of the issued share capital as of November 7, 2025, following Aberforth's disposal of an additional 1,000,000 TT Shares. Consequently, the total number of TT Shares subject to undertakings or letters of intent is now 14,531,846, or approximately 8.16% of the issued share capital.
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BY
CICOR TECHNOLOGIES LTD. ("Cicor")
Update on Irrevocable Undertakings and Letters of Intent
On 30 October 2025 the Boards of TT and Cicor made an announcement pursuant to Rule 2.7 of the Takeover Code (the "2.7 Announcement") of a recommended cash and shares acquisition pursuant to which Cicor will acquire the entire issued and to be issued ordinary share capital of TT (the "Acquisition"). It is intended that the Acquisition will be effected by means of a scheme of arrangement under Part 26 of the Companies Act (the "Scheme").
As set out the in the 2.7 Announcement, Cicor received a non-binding letter of intent from Aberforth Partners LLP ("Aberforth"), stating its current intention to vote (or procure a vote) in favour of the Scheme at the Court Meeting and the TT Resolutions at the General Meeting in respect of 17,753,869 TT Shares, representing approximately 10 per cent. of the issued share capital of TT as at 29 October 2025, being the last Business Day before the 2.7 Announcement (the "Aberforth Letter of Intent").[1]
TT was informed by Aberforth on 10 November 2025 that Aberforth has disposed of a further 1,000,000 TT Shares (in addition to the 2,500,000 TT Shares it had informed TT on 5 November 2025 that it had disposed of, as announced by Cicor on 6 November 2025) and so the total number of TT Shares which are subject to the Aberforth Letter of Intent is now 14,253,869 TT Shares, representing approximately 8.00% per cent. of the issued share capital of TT as at the close of business on 7 November 2025, being the last Business Day prior to the date of this announcement (the "Announcement").
Accordingly, the total number of TT Shares which are subject to either irrevocable undertakings or non-binding letters of intent is now 14,531,846 TT Shares (representing approximately 8.16% per cent. of the issued share capital of TT) as at close of business on 7 November 2025, being the last Business Day prior to the date of this announcement.
Unless otherwise defined in this announcement, capitalised words and phrases used in this announcement shall have the same meanings given to them in the 2.7 Announcement.
Dealing and opening position disclosure requirements
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.