New Horizons Holding acquires entire DPA business.

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Overig advies 11/10/2021 18:49
This press release is issued jointly by DPA Group NV in liquidation and by New Horizons Holding B.V. This announcement is not for release, publication or distribution, in whole or in part, in or into, directly or indirectly, any jurisdiction in which such release, publication or distribution would be unlawful. This press release contains inside information as meant in the European Market Abuse Regulation (596/2014).

Following settlement of the public offer by New Horizons Holding B.V. (”NHH”) on 30 July 2021 and the related post-acceptance period, NHH has now acquired the entire DPA business. As a result, DPA Group N.V. (“DGNV”) is in liquidation. DGNV will make an advance liquidation payment to its shareholders of EUR 1.70 (excluding taxes) on 28 September 2021. The DPA business will be continued unchanged by DPA Group B.V.

New Horizons Holding acquires entire...

Asset Sale
On 21 September 2021 DGNV sold the entire business operation including all its assets and liabilities to DPA Group B.V., a wholly-owned subsidiary of NHH. The transfer of the DPA business occurred on the same day. In return, the purchase price amounting to EUR 79,845,935 (equal to the valuation of DGNV under the public offer of NHH) has been paid to DGNV. This transaction was approved by DGNV’s extraordinary general meeting of shareholders (“EGM”) held on 16 July 2021 with a 99.5% majority vote.

This transaction does not affect the DPA business in any way. The business (including employees, clients and other business relationships) will be continued by DPA Group B.V. in full, under 100% (indirect) ownership of Gilde Equity Management and TBL Investments.

The EGM had also resolved to put DGNV into liquidation automatically upon the completion of the asset sale transaction. In line with statutory law, DGNV will continue to exist for purposes of its liquidation and the current board of directors of DGNV will act as the liquidators of the company for the time being.

As a first step, DGNV will make an advance liquidation payment to its shareholders of EUR 1.70 minus a withholding for relevant taxes (amounting to 4.7 eurocent per share, so therefore a net amount of EUR 1.653). The ex-date for this payment is foreseen on 24 September 2021, the record date on 27 September 2021 and the payment is expected to be made on 28 September 2021.

Following the advance liquidation payment, the liquidators of DGNV will work towards preparing a final plan of liquidation and distribution. This process is expected to take a few months.

For the time being, the DGNV shares will continue to trade on Euronext Amsterdam. The future of DGNV will be decided and announced in due course.

met dank aan een lezer, Theo voor toezewnding.

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