Tremor International denies sale process speculation

Tremor International responded to recent press speculation on Wednesday morning, confirming that it is in discussions with Goldman Sachs as an ongoing financial adviser.

The AIM-traded advertising technology company did, however, confirm that it was not currently in a sale process.

“From time to time, the company receives inquiries, and the board evaluates such inquiries, as applicable, together with its financial advisor,” the directors said in their statement.

“The board continues to believe in the stand-alone prospects of the business, and also recognizes its fiduciary duties to its shareholders.”

Tremor said it would make a further announcement “if and when” appropriate.

At 1339 GMT, shares in Tremor International were down 9.73% at 237.4p.

Reporting by Josh White for Sharecast.com.