Details of the share purchase
The Form 8.5 (EPT/RI), released through RNS on October 26, identifies Canaccord as an exempt principal trader connected to Aptitude, the offeree. Aptitude also names Canaccord as its broker in its interim results.
The purchase involved ordinary shares with a nominal value of 7 1/3 pence each. Both the highest and lowest purchase prices were 228 pence. The filing contains no entries for derivatives transactions, options transactions or other dealings.
Canaccord said it had not previously made, and was not making that day, a disclosure under the Code concerning another party to the offer. It reported no indemnity or other arrangements that could induce dealing or refraining from dealing, and no agreements or understandings concerning voting rights or future acquisitions or disposals linked to options or derivatives. David Baker is named as the disclosure contact.
Sale process and bidder discussions
Aptitude entered the offer period at 7:00 a.m. on April 8, 2026, after announcing a board-led review of its strategic options that included a formal sale process. The Takeover Panel's Disclosure Table dated October 28 still listed the company with "No named offeror," meaning no potential acquirer had been publicly identified.
The company provided an update on the process in its September 16 interim results, covering the six months ended June 30. It said trade and private equity parties had submitted several non-binding indicative proposals to buy either Aptitude as a whole or its eSuite and IFRS Rules compliance engines.
At the time of those results, the board said talks were continuing with some of the parties about a cash offer for the company. Discussions with one party were more advanced.
Financial results and market snapshot
For the six months ended June 30, 2026, Aptitude reported revenue of £28.8 million, a 12% decline from a year earlier, and adjusted operating profit of £5.1 million. Net cash stood at £15.7 million, and the company declared an interim dividend of 1.8 pence per share.
The ADVFN market page carrying the disclosure showed Aptitude shares at 213.00 pence, down 3.00 pence, or 1.39%, at 14:57:10. It recorded trading volume of 30,036 shares and displayed a market capitalization of 116.13 million.
