DGAP-News: AUTO1 Group SE
/ Key word(s): Letter of Intent
AUTO1 Group SE: Pre-IPO shareholders enter into a coordination agreement
- Agreement to coordinate any potential future share sales among major remaining pre-IPO shareholders
- Any potential share sales to be coordinated via an investment bank
- No indication of imminent share sale: such pre-IPO shareholders believe that current share price materially undervalues AUTO1
Berlin, 21. January 2022 - AUTO1 Group, Europe's leading digital automotive platform for buying and selling used cars online, has been informed by pre-IPO shareholders representing 25,477,929 shares (11.9% of all outstanding shares), that they have entered into an agreement to coordinate any potential future sale of AUTO1 Group SE shares amongst each other. The agreement encompasses the following pre-IPO shareholders:
- DST Global (OUR356 S.à.r.l., OUR993 XIII S.à.r.l. and OUR993 S.à.r.l.)
- Piton Capital
- Target Global
These pre-IPO shareholders intend to coordinate any potential sale to guarantee a smooth, orderly and timely execution and to minimize market impact. Any such transaction will be co-ordinated by investment banks.
Furthermore, any of these pre-IPO shareholders not participating in such a sale will refrain from selling any of its shares for a period of three weeks following the launch of such transaction. The agreement has an initial period of 120 days.
In communicating the coordination agreement to AUTO1, the pre-IPO shareholders stated: "Our view is that the current share price materially undervalues AUTO1, and this agreement is not an indication that we are looking to sell right now - rather that we are agreeing to be coordinated on any sell down once the share price has recovered and more fully reflects the fair value of what the team has built and is building."
About AUTO1 Group
For more information please visit www.auto1-group.com
Investor Relations contact
AUTO1 Group SE | Bergmannstrasse 72 | 10961 Berlin | Germany
21.01.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||AUTO1 Group SE|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Tradegate Exchange|
|EQS News ID:||1271178|
|End of News||DGAP News Service|