Extension of PUSU Deadline
Summary by AI BETAClose X
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.
THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE") AND DOES NOT CONSTITUTE AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CODE. THERE CAN BE NO CERTAINTY THAT ANY FIRM OFFER WILL ULTIMATELY BE MADE.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION IN RELATION TO INTUITIVE INVESTMENTS GROUP PLC AND ACCELER8 VENTURES PLC FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014 AS IT FORMS PART OF UNITED KINGDOM DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED BY VIRTUE OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019 ("UK MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, SUCH INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
FOR IMMEDIATE RELEASE
6 May 2026
Intuitive Investments Group plc
("IIG" or the "Company")
Extension of PUSU Deadline
On 8 April 2026, the independent directors of IIG and Acceler8 Ventures plc ("AC8") announced that they had reached agreement in principle on the terms of a possible all-share offer by AC8 for the entire issued and to be issued ordinary share capital of IIG (the "Possible Offer"), alongside the proposed admission of the enlarged group (the "Combined Group"), to a listing on the Equity Shares (Commercial Companies) category of the Official List maintained by the Financial Conduct Authority ("FCA") and to trading on the London Stock Exchange's main market (the "Main Market").
Preparations and discussions in respect of the Possible Offer are continuing between the parties and their respective advisers, including progressing the requisite due diligence process and preparation of a prospectus on the proposed Combined Group. Accordingly, the independent directors of IIG have requested, in accordance with Rule 2.6(a) of the Code, and the Panel on Takeovers and Mergers (the "Takeover Panel") has consented to, an extension to the date by which AC8 is required either to announce a firm intention to make an offer for the Company in accordance with Rule 2.7 of the Code, or to announce that it does not intend to make an offer, in which case the announcement would be treated as a statement to which Rule 2.8 of the Code applies. Such announcement must now be made by not later than 5.00 p.m. (London time) on 3 June 2026. This revised deadline can be further extended with the agreement of the independent directors of IIG and the consent of the Takeover Panel in accordance with Rule 2.6(c) of the Code.
There can be no certainty that any firm offer will ultimately be made for the Company.
Shareholders should note that the Company continues to be in an 'Offer Period' in accordance with the Rules of the Code and attention is drawn to the disclosure requirements of Rule 8 of the Code, which are summarised below.
For the purposes of UK MAR, the person responsible for arranging for the release of this announcement on behalf of the Company is Giles Willits and on behalf of AC8 is David Williams.
This announcement has been made with the prior consent of AC8 and a further announcement(s) will be made in due course as and when appropriate.
The Company's LEI number is 2138004A32UIY92WWR66. AC8's LEI number is 2138004B1HKZP1OR2C72.
Enquiries:
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Intuitive Investments Group plc
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Giles Willits |
c/o FTI Consulting |
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Strand Hanson Limited (Rule 3 Adviser and Financial Adviser to IIG) |
James Dance Christopher Raggett Matthew Chandler Imogen Ellis |
Tel: 020 7409 3494 |
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Zeus Capital Limited (Broker to IIG)
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James Hornigold Dominic King |
Tel: 020 3829 5000
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FTI Consulting (Financial PR to IIG)
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John Waples Valerija Cymbal Jemima Gurney |
Tel: 020 3727 1000 |
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Acceler8 Ventures plc |
David Williams |
c/o Tessera Investment Management Limited |
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Tessera Investment Management Limited (Financial Adviser to AC8) |
Tony Morris |
Tel: 07742 189145 |
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Joh. Berenberg, Gossler & Co. KG, London Branch (Rule 3 Adviser and Financial Adviser to AC8) |
Matthew Armitt Miles Cox Mark Whitmore Alex Wright |
Tel: 020 3207 7800 |
Important notices
Strand Hanson Limited, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively as Rule 3 adviser and financial adviser to IIG and no one else in connection with the Possible Offer and other matters set out in this announcement and will not be responsible to anyone other than the Company for providing the protections afforded to its clients or for providing advice in relation to such matters.
Joh. Berenberg, Gossler & Co. KG, London Branch ("Berenberg"), which is authorised and regulated by the German Federal Financial Supervisory Authority and is authorised and regulated by the FCA in the United Kingdom, is acting exclusively as Rule 3 adviser and financial adviser to AC8 and no one else in connection with the Possible Offer and other matters set out in this announcement and will not be responsible to anyone other than AC8 for providing the protections afforded to clients of Berenberg, or for providing advice in connection with the Possible Offer or any other matter referred to herein. Neither Berenberg nor any of its affiliates owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Berenberg in connection with this announcement, any statement contained herein or otherwise.
Tessera Investment Management Limited ("Tessera") is acting exclusively as financial adviser to AC8 and no one else in connection with the Possible Offer and other matters set out in this announcement and will not be responsible to anyone other than AC8 for providing the protections afforded to clients of Tessera, or for providing advice in connection with the Possible Offer or any other matter referred to herein. Neither Tessera nor any of its affiliates owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Tessera in connection with this announcement, any statement contained herein or otherwise.
This announcement is not intended to, and does not, constitute or form part of any offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities, or the solicitation of any vote or approval in any jurisdiction, pursuant to this announcement or otherwise. Any offer, if made, will be made solely by way of certain offer documentation which will contain the full terms and conditions of any offer, including details of how it may be approved or accepted.
The release, distribution or publication of this announcement in jurisdictions other than the United Kingdom and the availability of any offer to shareholders of IIG who are not resident in the United Kingdom may be affected by the laws of such relevant jurisdictions. Therefore, any persons who are subject to the laws of any jurisdiction other than the United Kingdom or shareholders of IIG who are not resident in the United Kingdom should inform themselves about and observe any applicable requirements.
Disclosure requirements of the Code
Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of IIG or of any securities exchange offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any securities exchange offeror is first identified. An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) IIG and (ii) any securities exchange offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 p.m. (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 p.m. (London time) on the 10th business day following the announcement in which any securities exchange offeror is first identified. Relevant persons who deal in the relevant securities of IIG or of a securities exchange offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.
Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of IIG or of any securities exchange offeror must make a Dealing Disclosure if the person deals in any relevant securities of IIG or of any securities exchange offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) IIG and (ii) any securities exchange offeror(s), save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 p.m. (London time) on the business day following the date of the relevant dealing.
If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a securities exchange offeror, they will be deemed to be a single person for the purpose of Rule 8.3.
Opening Position Disclosures must also be made by IIG and by any offeror and Dealing Disclosures must also be made by IIG, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).
Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Takeover Panel's website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the offer period commenced and when any offeror was first identified. You should contact the Takeover Panel's Market Surveillance Unit on +44 (0)20 7638 0129 if you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure.
The defined terms used in this section "Disclosure requirements of the Code" are defined in the Code which can be found on the Takeover Panel's website.
Website publication
In accordance with Rule 26.1 of the Code, a copy of this announcement will be made available (subject to certain restrictions relating to persons resident in restricted jurisdictions) on IIG's website at www.iigplc.com and on AC8's website at https://acceler8.ventures/ by no later than 12 noon (London time) on the business day following the date of this announcement. For the avoidance of doubt, the content of the websites referred to in this announcement is not incorporated into and does not form part of this announcement.
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