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TEAM withdraws takeover bid after Tavistock rallies opposition Share capital of 51% poised to fight TEAM has dropped its takeover bid for the AIM-listed Tavistock TEAM has withdrawn its takeover bid for fellow AIM-listed firm Tavistock Investments after a shareholder and board alliance representing more than 50% of voting rights rallied around the firm. In an announcement dated 20 April 2021, the board of TEAM stated it had "not been able to fully engage with the board of Tavistock" and was no longer proceeding with its possible offer. "As a consequence, the board of TEAM believes that other ...

  TEAM is a Jersey based specialist, investment-led active fund manager providing discretionary and advisory portfolio management services to private clients and trusts. On 8 March 2021, TEAM's shares were admitted to trading on AIM in an IPO raising £7.8 million. As at market close on 6 April 2021, TEAM has a market capitalisation of £14.4 million and available cash of approximately £6.0 million.   TEAM's strategy is to grow into an internationally recognised wealth and asset management group. The TEAM Board believes that it has in place the right senior manageme...

  NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION.   THIS ANNOUNCEMENT IS NOT AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE") AND THEREFORE THERE CAN BE NO CERTAINTY THAT ANY OFFER WILL BE MADE.   THE INFORMATION COMMUNICATED IN THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AND UPON PUBLICATION OF THE ANNOUNCEMENT VIA A REGULATORY INFORMATION SE...