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LONDON - Brooklyn Earick has confirmed he does not intend to make a firm offer for Tottenham Hotspur Limited, according to a statement released Monday under Rule 2.8 of the City Code on Takeovers and Mergers.
The announcement follows Tottenham Hotspur’s disclosure on September 26 that it had received an informal expression of interest regarding a potential acquisition of the football club’s entire issued and to-be-issued share capital.
As per takeover regulations, Earick and any persons acting in concert with him will be bound by restrictions that prevent them from making another offer for a specified period, except under certain circumstances.
The statement notes that Earick reserves the right to set aside these restrictions with the agreement of Tottenham’s board, following an offer from a third party, after a Rule 9 waiver proposal or reverse takeover announcement by the company, or if the Takeover Panel determines that a material change in circumstances has occurred.
Earick and his consortium also retain the right to acquire shares in Tottenham Hotspur in accordance with the Code and other applicable regulations.
The London Stock Exchange announcement, made through its Regulatory News Service (RNS), confirms that this withdrawal statement constitutes inside information under UK market abuse regulations.
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