MusicMagpie plc has provided an update regarding the ongoing offer period for the company. The board of MusicMagpie has noted that Aurelius Investment Advisory Ltd and BT Group plc have both announced that they do not intend to make an offer for the company. However, MusicMagpie continues to seek potential buyers for its entire issued and to be issued share capital, and therefore remains in an offer period. Shareholders are advised to take no action at this time. The company will make a further announcement as appropriate.
The disclosure requirements of Rule 8 of the City Code on Takeovers and Mergers are highlighted, and shareholders are reminded to familiarize themselves with these requirements. The company's advisers, Shore Capital and Deloitte LLP, are mentioned, along with their roles in the process.
The announcement also includes additional information regarding the distribution of the announcement in jurisdictions other than the UK and the availability of any offer to shareholders who are not resident in the UK. It is stated that the company's ordinary shares have not been and will not be registered under the US Securities Act, and therefore cannot be offered or sold in the United States.
Overall, the update confirms that MusicMagpie is still actively seeking potential buyers and advises shareholders to wait for further announcements.