1 Jun 2021 07:00
1 June 2021
Hyve Group plc
("Hyve" or the "Company")
Response to recent press speculation
The Board of Hyve Group Plc (the "Board") notes the recent media speculation regarding a potential investment into the Company. Building on the success of its TAG programme, which saw Hyve focus on its market leading events, as well as its early move into omnichannel, the Board is currently considering its funding options to give the Company the greatest flexibility to accelerate its post pandemic growth and capitalise on the current market disruption. In assessing these options, the Board will prioritise minimal dilution to existing shareholders as well as the optionality to move quickly as earnings accretive acquisition opportunities arise. Discussions regarding any potential investment remain at an early stage and there can be no certainty that any discussions will progress to conclusion or, if they do progress to conclusion, as to the terms or size of any such potential investment.
Consistent with the comments made at the time of the interim results, Hyve is well positioned for success post pandemic. The Company has a strong balance sheet to trade through as markets reopen and, as was demonstrated by the recent MosBuild event, its portfolio of market leading events will come back strongly and continue to deliver good return on investment. Management also has a clear vision of the future as has been demonstrated by the ongoing evolution of the omnichannel strategy and the successful rollout of further online Meetup events.
A further announcement will be made if required.
For further information please contact:
Hyve Group plc Mark Shashoua / John Gulliver |
+44 (0)20 3545 9400
|
FTI Consulting Charles Palmer / Emma Hall / Chris Birt / Jamille Smith
|
+44 (0)20 3727 1000
|
About Hyve Group plc
Hyve Group plc is a next-generation global events business whose purpose is to bring together and connect entire sector ecosystems from all corners of the globe. We meet our customer needs to learn, network and trade via both market leading in-person and online events. Hyve Group plc is all about globally consistent best practice and unrivalled quality. Our vision is to create the world's leading portfolio of content-driven, must-attend events delivering an outstanding experience and ROI for our customers. Hyve's market leading portfolio of global brands include: Shoptalk, Spring Fair, MosBuild, Bett, Mining Indaba and recently acquired Retail Meetup, a ground-breaking digital platform enabling online networking and trade to take place at scale.
Where business is personal, where meetings move markets and where today's leaders inspire tomorrow's.
IMPORTANT INFORMATION
There can be no certainty that any possible transaction contemplated in this announcement will proceed nor as to the terms on which any possible transaction might be concluded.
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.
No securities in connection with any possible transaction contemplated in this announcement have been or will be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.
No person has been authorised to give any information or to make any representations other than those contained in this announcement.
The issue of this announcement shall not, for the avoidance of doubt, in any circumstances, create any implication that the Company shall be required to provide further updates on the status of any matters contemplated in this announcement (save as may be required by law or regulation).