Alfa Financial Software Holdings PLC has announced that it has terminated its engagement with Thomas H. Lee Partners, L.P. (THL) following discussions regarding a possible offer for the company. The discussions were at a preliminary stage and there was no certainty that a firm offer would be made. The Board of Alfa decided to terminate the engagement in order to comply with the UK's Takeover Code, which states that a company subject to an approach must not be hindered in the conduct of its affairs for longer than is reasonable. The Board remains confident in the company's strategic direction and outlook for the business. THL is required to announce a firm intention to make an offer for Alfa by 25 October 2023 or announce that it does not intend to make an offer. This announcement has not been made with the consent of THL. Barclays Bank PLC is acting as the financial adviser and joint corporate broker for Alfa.