**Summary**
Auction Technology Group PLC (ATG) has issued a statement regarding a possible offer from FitzWalter Capital Limited (FitzWalter), its largest shareholder. The ATG Board has unanimously rejected eleven unsolicited and highly conditional proposals from FitzWalter, with the la<mark style="background-color:yellow">test</mark> offer at 360 pence per share in cash, received on December 23, 2025. The Board deems these proposals as fundamentally undervaluing the company, particularly at a time when ATGs public market valuation does not reflect its fair value.
Key points
FitzWalter has committed to announcing the terms of its proposal on January 12, 2026.
The ATG Board requests FitzWalter to either make a firm offer reflecting fair value or confirm its intention not to proceed.
ATG remains confident in its standalone prospects as a publicly listed company, emphasizing its strong position in the curated second-hand goods market.
The company highlights its strategic acquisitions, platform enhancements, and growth opportunities, with an update scheduled for the AGM Trading Update on January 22, 2026.
Shareholders are advised to take no action at this time, and FitzWalter must announce its intentions by February 2, 2026, as per the City Code on Takeovers and Mergers.
The statement underscores ATGs belief in its long-term value creation potential and its commitment to acting in the best interests of all shareholders.