Press release from: 20 July 2012
Ad-hoc Press Release - OEP Technologie B.V. decides to initiate squeeze-out proceedings against minority shareholders in SMARTRAC N.V.
SMARTRAC N.V. today announced that the company’s majority shareholder OEP Technologie B.V. has decided to initiate squeeze-out proceedings against all minority shareholders in SMARTRAC N.V. to have their shares in SMARTRAC N.V. transferred to OEP Technologie B.V. pursuant to article 2:92a of the Dutch Civil Code.
The Management Board of SMARTRAC N.V. has also been informed today that OEP Technologie B.V. intends to request the Enterprise Chamber of the Amsterdam Court of Appeal to order the minority shareholders to transfer their shares and to set the price of the shares to be transferred at EUR 11.00 per share.
The Managing Directors of OEP Technologie B.V. furthermore informed SMARTRAC N.V. that an excerpt from the bailiff's notification (exploot) in relation to the squeeze-out will be published in the national daily newspaper Het Financieele Dagblad as soon as possible.
OEP Technologie B.V. currently holds 19.287.868 shares in SMARTRAC N.V. representing 97.2 percent of the shares and voting rights in SMARTRAC N.V., the free float amounts to 2.8 percent.
SMARTRAC is the leading developer, manufacturer, and supplier of RFID and NFC transponders and inlays. The company produces ready-made and customized transponders and inlays used in access control, animal identification, automated fare collection, border control, RFID-based car immobilizers, electronic product identification, industry, libraries and media management, laundry, logistics, mobile & smart media, public transport, retail, and many more.
SMARTRAC was founded in 2000, went public in July 2006, and trades as a stock corporation under Dutch law with its registered headquarters in Amsterdam. The company currently employs about 4,000 employees and maintains a global research and development, production, and sales network.
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To the extent that this press release contains forward-looking statements, such statements are based on assumptions, planning and forecasts at the time of publication of this press release. Forward-looking statements always involve uncertainties. Business and economic risks and developments, the conduct of competitors, political decisions and other factors may cause the actual results to be materially different from the assumptions, planning and forecasts at the time of publication of this press release. Therefore, SMARTRAC N.V. does not assume any responsibility relating to forward-looking statements contained in this press release. Furthermore, SMARTRAC N.V. does not assume any obligation to update the forward-looking statements contained in this press release.