Confidentiality: CONFIDENTIAL
Date: 12 February 2026
From: Meridian Capital Advisors LLP
To: Trident Manufacturing Group Ltd
Parties
Party A
Meridian Capital Advisors LLP
45 Moorgate, London, EC2R 6AQ, United Kingdom
Party B
Trident Manufacturing Group Ltd
Unit 12, Phoenix Industrial Estate, Sheffield, S9 2GR, United Kingdom
Terms
1. Purpose
This Letter of Intent ("LOI") sets out the preliminary understanding between Party A and Party B regarding a proposed strategic investment by Party A in Party B, with a view to supporting Party B's expansion into European markets. This LOI is intended to outline the principal terms of the proposed transaction and to facilitate further due diligence and negotiation between the parties.
2. Proposed Terms (Summary)
Scope: Minority equity investment by Party A in Party B of up to £3,500,000, representing approximately 18% of the fully diluted share capital post-investment.
Commercials: Valuation of Party B at £16,000,000 pre-money; investment structured as a primary subscription for new ordinary shares. Board observer right granted to Party A.
Timeline: Target completion within 8 weeks of signing this LOI, subject to satisfactory completion of due diligence and negotiation of definitive documentation.
Validity: This LOI expires on 14 March 2026 unless extended by written agreement of both parties.
3. Non-Binding Status
Except for the provisions expressly stated as binding below, this LOI does not constitute a legally binding agreement and does not create any obligation on either party to proceed with the proposed transaction. Either party may withdraw from negotiations at any time prior to execution of definitive transaction documents, without liability to the other party.
4. Binding Provisions (If Applicable)
The following provisions are intended to be legally binding on the parties:
- Confidentiality: Each party agrees to keep the existence and terms of this LOI, and all information exchanged in connection with the proposed transaction, strictly confidential for a period of twelve (12) months.
- Exclusivity: Party B agrees not to solicit, negotiate, or enter into any agreement regarding a competing transaction for a period of forty-five (45) days from the date of this LOI.
- Governing Law: This LOI shall be governed by the laws of England and Wales, and the parties submit to the exclusive jurisdiction of the courts of England and Wales in respect of the binding provisions.
Signatures
Agreed and acknowledged by authorised signatories of each party:
Party A
Signature
Name: Jonathan Ashford
Title: Managing Partner
Date:
Party B
Signature
Name: Diane Trevelyan
Title: Chief Executive Officer
Date: