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LONDON - William Currie Investments Limited has sold 2 million shares of Inspired PLC (AIM:INSP) amid an ongoing takeover contest for the company, according to a disclosure made Tuesday under the City Code on Takeovers and Mergers.
Following the sale, William Currie now holds 391,744 shares and 3,291,744 warrants in Inspired, significantly reducing its equity position in the company. The investment firm had previously provided a letter of intent to accept the recommended cash offer from Intrepid Bidco Limited, a company backed by funds managed by HGGC, LLC.
The HGGC-backed offer for Inspired was announced on June 26, following an unsolicited offer from Regent Acquisitions 2025 Limited on April 22. William Currie’s letter of intent to accept the HGGC offer and reject Regent’s offer remains in place, but now applies only to its reduced holdings.
Despite William Currie’s share sale, Intrepid Bidco still has indications of support representing approximately 38.95 percent of Inspired’s issued ordinary share capital. Additionally, Inspired has received written confirmations from shareholders representing approximately 47.89 percent of its ordinary shares that they do not intend to accept Regent’s competing offer.
The takeover offer from Intrepid Bidco is being implemented as a cash offer for the entire issued and to be issued ordinary share capital of Inspired.
This information is based on a press release statement issued by Inspired PLC under the disclosure requirements of the Takeover Code.
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