The recommended cash offer for Inspired PLC (AIM:INSE) by private equity firm HGGC, valued at just under £184 million, has moved to clarify the recent sale of shares by one investor.
William Currie Investments Limited had initially agreed to accept the offer on around 2.4 million Inspired shares, approximately 1.5% of the company’s share capital, and associated warrants. William Currie also confirmed it would not accept a rival bid from Regent Acquisitions.
Regulatory filings show William Currie sold 2 million of those shares, reducing its holding to just under 400,000 shares while retaining its warrants.
Its commitment to accept the offer remains valid for the remaining shares held.
Letters of intent supporting the offer now cover about 5.8 million shares or 3.6% of Inspired’s issued capital.
Combined with other shareholder commitments, total support stands at nearly 39% of the company’s shares.
Inspired has also received written confirmations from shareholders holding almost 48% of shares that they do not intend to accept Regent’s competing offer.