DGAP-News: zooplus AG
/ Key word(s): Offer/Delisting
zooplus boards recommend shareholders to accept the delisting tender offer by H&F with support of EQT at EUR 480 per share
Munich, December 1, 2021 - The Management Board and the Supervisory Board of zooplus, the leading European online pet platform, today announced in their joint reasoned statement that they recommend the remaining zooplus shareholders to accept the delisting tender offer by Hellman & Friedman ("H&F") with support of its partner EQT Private Equity ("EQT") at a cash consideration of EUR 480 per share. The acceptance period for the delisting tender offer will expire on January 12, 2022, 24:00 hrs CET and is not subject to any (closing) conditions. On the basis of the delisting tender offer, zooplus will apply for the revocation of the admission of the zooplus shares to trading on the regulated market of the Frankfurt Stock Exchange (delisting). The delisting is expected to become effective as of the expiry of the acceptance period on January 12, 2022, 24:00 hrs CET.
"We support the delisting tender offer by H&F in partnership with EQT as we fully acknowledge the advantages of operating as a private company in order to successfully execute on our long-term strategy. We have the clear ambition to use our pole position in the European pet space to win the category in the long run. This, however, requires a clear focus on substantial investments into growth instead of short- and mid-term earnings. Therefore, the Management Board and Supervisory Board of zooplus recommend to accept the delisting tender offer by Zorro Bidco to all remaining shareholders, as it is highly attractive in financial terms and it clearly is in the best interest of the company, its employees and stakeholders", says Dr. Cornelius Patt, CEO of zooplus.
"The acceptance rate of almost 90 percent after the additional acceptance period for the previous voluntary public takeover offer by Zorro Bidco is a clear signal that a huge majority of our former shareholders share our conviction that EUR 480 per share is a highly attractive offer price and that the strategic partnership with H&F and EQT is in the best interest of zooplus. With the fast and attractive delisting tender offer, we provide clarity for all employees and business partners - and for all zooplus shareholders who have not tendered their shares yet. This is why we as the Supervisory Board support the delisting offer and recommend to all remaining shareholders to tender their shares until January 12, 2022", says Karl-Heinz Holland, Chairman of the Supervisory Board.
The cash consideration of EUR 480 per share represents a significant premium of 85 percent compared to the unaffected 3-months VWAP of the zooplus shares as of August 12, 2021 (the last trading day prior to the publication of the decision to make the previous voluntary public takeover offer by H&F) and is therefore highly attractive.
Shareholders who want to accept the delisting tender offer have to submit a declaration of acceptance to their custodian bank for the delisting offer by Zorro Bidco and to instruct their custodian bank to effect the booking of their zooplus shares, for which they wish to accept the offer, into the ISIN DE000A3MQB89.
You can find the joint reasoned statement of the Management Board and the Supervisory Board on our Investor Relations website: https://investors.zooplus.com/en/investor-relations/
Press / Investor relations contact:
Finsbury Glover Hering
01.12.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1253442|
|End of News||DGAP News Service|