M&A Activity • Jul 11, 2011
M&A Activity
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Hoofddorp, 11 July 2011 – As per today, Management Share N.V. will continue as New Sources Energy N.V., now that the transactions in which Quattro Capital B.V. acquires 80.35% of the shares, has been successfully closed. The most important reason of the name change is the intention to incorporate new activities into the company, involving the development and generation of sustainable energy with a focus on solar energy.
During an Annual General Meeting of Shareholders (AGM) on 31 May, the shareholders have adopted all resolutions enabling the transfer of shares, such as the amendments to the articles of association, the issue of shares related to the conversion, the exemptions for the public offering and the appointment of the new members of the Management and Supervisory Boards.
As the delivery of the new to be issued - to Ditcorp/Holonite B.V. – shares to Quattro Capital has taken place per notary deed and the articles of association of the company have been amended, the transaction is now successfully closed. The Board of Management of New Sources Energy, as appointed during the AGM, now consists of Mr. A. van der Aart (CEO) and D. Wilschut (COO). The Supervisory Board will consist of Mr. W. den Breejen and Mr. F. van den Heuvel.
Quattro Capital B.V. intends to issue the acquired (non-listed) shares for floatation at a later date, in consideration of the plans to contribute new activities into New Sources Energy. The plans for these activities will be presented in more detail at a later stage.
In the first months of 2011, the company has made additional costs, on top of the normal operating costs, relating to the intended amendments to the articles of association (among which the name change and dematerialisation of the shares), the issue of shares and the delivery of the shares to Quattro Capital B.V. In the period under review the company did not book any turnover. In the contract stipulating the acquisition and sale of the new to be issued shares, the parties involved have agreed to charge out the operating as well as the additional costs. Furthermore it was agreed to replenish the shareholders' equity to the amount of € 100,000. At the date of the amendment of the articles of association, the issue of new shares and the delivery to Quattro Capital B.V. the company's visible equity stands at € 100,000.
About Quattro Capital: Quattro Capital develops, exploits and invests in projects that create renewable energy. Quattro Capital is building a balanced diversified portfolio, both geographically as well as technically.
A. van der Aart
New Sources Energy N.V. Jonckerweg 14 2201 DZ Noordwijk Tel: 071 - 36 200 85 Fax: 071 - 36 248 79 E-mail: [email protected]
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