ANNOUNCEMENT FALLING UNDER RULE 2.8 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE")
Following the statement on 20 November 2023 by Music Magpie plc ( "Music Magpie") in which Music Magpie announced that it was in early stage discussions with both BT Group Plc and Aurelius Group as to a possible offer for Music Magpie, Aurelius Investment Advisory Limited (“Aurelius”) today confirms on behalf of investment entities managed or advised by it or its affiliates (its “Advised Funds”) that they do not intend to make an offer for Music Magpie.
This is a statement to which Rule 2.8 of the Code applies.
Under Note 2 on Rule 2.8 of the Code, Aurelius on behalf of its Advised Funds reserves the right to set aside the restrictions in Rule 2.8 in the following circumstances: (i) with the agreement of the board of Music Magpie; (ii) if a third party announces a firm intention to make an offer for Music Magpie; (iii) if Music Magpie announces a Rule 9 waiver proposal (see Note 1 of the Notes on Dispensations from Rule 9) or a reverse takeover (as defined in the Code); and (iv) if there has been a material change of circumstances (as determined by the Takeover Panel).
A copy of this announcement was published via RNS at 15.00 GMT on 24 November 2023 - see here