TI Fluid Systems plc - Acquisition

Dear client

The boards of directors of ABC Technologies Acquisitions Limited, wholly-owned by ABC Technologies, and TI Fluid Systems plc ("TI Fluid Systems") are pleased to announce that they have reached agreement on the terms and conditions of a recommended all cash acquisition by Bidco of the entire issued, and to be issued, ordinary share capital of TI Fluid Systems.  

     The Acquisition price per TI Fluid Systems Share represents a premium of approximately:

         o  54.5 per cent. to the volume-weighted average price of 129.5 pence per TI Fluid Systems Share for the 90-day period to 13 September 2024 (being the last Business Day prior to the commencement of the offer period);

         o  53.4 per cent. to the closing share price of 130.4 pence per TI Fluid Systems Share on 21 August 2024 (being the last Business Day prior to ABC Technologies submitting its first proposal to the TI Fluid Systems Board);

         o  47.3 per cent. to the closing share price of 135.8 pence per TI Fluid Systems Share on 12 September 2024 (being the last Business Day prior to speculation around a possible offer on 13 September 2024); and

         o  37.2 per cent. to the closing share price of 145.8 pence per TI Fluid Systems Share on 13 September 2024 (being the last Business Day prior to the commencement of the offer period).

The Scheme is expected to take place during the first half of 2025.

Please see attached notification received.  

Please be aware we do not have any holders on the platform.

Kind regards

Corporate Action Team