NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION 

27 October 2022

Made.com Group Plc

("MADE" or the "Company")

Termination of Formal Sale Process ("FSP") and Update on Strategic Review

Further to the recent announcements regarding the FSP and strategic review, the Board of MADE provides the following update.

As announced on 25 October 2022, the Company is no longer in receipt of any possible offers for the issued and to be issued share capital of the Company. Having considered the nature of ongoing discussions with interested parties as part of the Company's strategic review process, the Board has concluded that there is no reasonable prospect that an offer for the issued and to be issued share capital of the Company will be forthcoming and has accordingly decided to terminate the formal sales process under the Takeover Code. Accordingly, the Company is no longer in an offer period.

The Board of MADE will continue to look to preserve value for its creditors and shareholders as part of the ongoing strategic review and a further update will be made as and when appropriate.

Enquiries:

MADE  

Nicola Thompson, Chief Executive Officer         

Patrick Lewis, Chief Financial Officer     

Phil Clark, Investor Relations     

investor.relations@made.com   

Brunswick Group        

Sarah West      

Diana Vaughton           

made@brunswickgroup.com     

+44 207 404 5959         

PricewaterhouseCoopers LLP (Financial Adviser)       

Robert Moran   

Rick Jones       

Jonathan Raggett         

Iain Reilly         

+44 (0) 20 7583 5000    

J.P. Morgan Cazenove (Corporate Broker)       

Bill Hutchings   

James Summer

+44 207 742 4000         

Liberum Capital Limited (Corporate Broker)    

Clayton Bush   

John Fishley    

+44 203 100 2000         

The person responsible for making this announcement on behalf of Made.com Group Plc is Laura Tyler, General Counsel and Company Secretary (Interim).

About MADE

MADE is the leading digitally native lifestyle brand in home, disrupting the industry with high-quality, exclusive designs underpinned by a responsible, small-batch production model, enabling customers to realise the vision of their homes.

In addition to its in-house design team and collaborations with leading designers, MADE champions independent talent, offering them a platform and access to a scalable supply chain that makes their ideas reality. These partners bring their unique perspective in the creation of bold statement collections and work with MADE to produce iconic designs.

Operating at the intersection of design and technology, proprietary algorithms take consumers on a journey: from outreach that makes designs discoverable to a frictionless digital shopping experience. Combined with an innovative 'just-in-time' order model, MADE provides a fresh and ever-changing range, with nine new collections launched every week and more than 8,000 active SKUs in the catalogue as at 30 June 2022.

Founded in 2010, MADE sells its products across the United Kingdom, Germany, Switzerland, Austria, France, Belgium, Spain, Ireland and the Netherlands via its e-commerce platform. The brand also has seven showrooms across Europe, with flagship brand experiences in London and Paris. 

Important Notices

PwC is authorised and regulated in the United Kingdom by the Financial Conduct Authority ("FCA") and is acting exclusively for the Group and for no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than MADE for providing the protections afforded to its clients nor for providing advice in relation to the subject matter of this announcement.

J.P. Morgan Securities plc, which is authorised by the Prudential Regulation Authority ("PRA") and regulated in the United Kingdom by the PRA and the FCA, is advising MADE in connection with the application of the Takeover Code and is acting as corporate broker to MADE and for no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than MADE for providing the protections afforded to its clients nor for providing advice in relation to the subject matter of this announcement.

Liberum Capital Limited, which is authorised and regulated in the United Kingdom by the FCA, is acting as corporate broker to MADE and for no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than MADE for providing the protections afforded to its clients nor for providing advice in relation to the subject matter of this announcement.

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 whether pursuant to this announcement or otherwise.

This announcement (including any information incorporated by reference in this announcement), oral statements made regarding the formal sale process, and other information published by the Group contain statements about the Group that are or may be deemed to be forward looking statements. Without limitation, any statements preceded or followed by or that include the words "targets", "plans", "believes", "expects", "aims", "intends", "will", "may", "anticipates", "estimates", "projects" or words or terms of similar substance or the negative thereof, may be forward looking statements.

These forward-looking statements are not guarantees of future performance. Such forward-looking statements involve known and unknown risks and uncertainties that could significantly affect expected results and are based on certain key assumptions. Many factors could cause actual results to differ materially from those projected or implied in any forward-looking statements. Due to such uncertainties and risks, readers should not rely on such forward-looking statements, which speak only as of the date of this announcement. The Group disclaims any obligation or responsibility to update publicly or review any forward-looking or other statements contained in this announcement, except as required by applicable law.

The distribution of this announcement in jurisdictions outside the United Kingdom may be restricted by law and therefore persons into whose possession this announcement comes should inform themselves about, and observe, such restrictions. Any failure to comply with the restrictions may constitute a violation of the securities law of any such jurisdiction.

Inside information and responsibility

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement this inside information is now considered to be in the public domain.  The person responsible for making this announcement on behalf of Made.com Group Plc is Laura Tyler, General Counsel and Company Secretary (Interim).

Publication on website

A copy of this announcement will be made available, subject to certain restrictions relating to persons resident in restricted jurisdictions, on the Group's website at corporate.made.com/investors by no later than 12 noon (London time) on the business day following the date of this announcement. Neither the content of any website referred to in this announcement nor the content of any website accessible from hyperlinks is incorporated into, or forms part of, this announcement.

LEI: 213800HTMSVKO71K6O71