Pon Holdings increases stake in Accell Group N.V. to 20% and withdraws intention to make a partial offer


Pon Holdings announces that on 20 November 2018 it purchased 338,121 ordinary shares in Accell Group N.V. (“Accell Group”) and that it has now purchased a total of 5,332,769 ordinary shares in Accell Group, representing 20.0% of the issued and outstanding share capital.

On 13 November 2018 Pon Holdings announced an intention to make a partial offer (the "Intended Partial Offer") in cash for 20% of the issued and outstanding ordinary shares in Accell Group at €19.00 per share. Now that Pon Holdings has purchased 20% of the issued and outstanding ordinary shares in Accell Group, there is no longer a rationale for Pon Holdings to make a partial offer. Therefore, Pon Holdings announces that its intention to make the Intended Partial Offer is withdrawn and that it will not submit an offer memorandum in relation to the Intended Partial Offer to the Dutch Authority for the Financial Markets (Autoriteit financiele markten; "AFM").

Pon Holdings confirms that, on 20 November 2018, Pon Holdings and its affiliates or brokers (acting as agents for Pon Holdings or its affiliates, as applicable) purchased a total of 338,121 ordinary shares in the open market at a volume weighted average price of€19.00.



Total number of shares

Type of shares

Volume weighted average price in €

20 November 2018





The highest price per ordinary share paid in a transaction conducted on 20 November 2018 was €19.00.

About Pon Holdings

Pon Holdings – one of the Netherlands’ biggest family businesses – is a leading global company with nearly 13,000 employees operating in 32 countries. It supplies high-end products and solutions, develops and manufactures bicycles (approximately 800.000 under 10 premium brands), and offers engineering solutions in several market segments. Pon operates in a large number of markets, from private and commercial vehicles and bicycles, to forklift trucks, tires, road and earthmoving machinery, generators, and total solutions for the shipping industry.


This announcement is for information purposes only and does not constitute an offer or an invitation to acquire or dispose of any securities or investment advice or an inducement to enter into investment activity. This announcement does not constitute an offer to sell or issue or the solicitation of an offer to buy, acquire or subscribe for any securities of Accell Group N.V. in any jurisdiction.

The distribution of this press release may, in some countries such as the United States, Canada or Japan, be restricted by law or regulation. Accordingly, persons who come into possession of this document should inform themselves of and observe these restrictions. To the fullest extent permitted by applicable law, Pon Holdings disclaims any responsibility or liability for the violation of any such restrictions by any person. Any failure to comply with these restrictions may constitute a violation of the securities laws of that jurisdiction. Neither Pon Holdings nor any of its affiliates or advisors assumes any responsibility for any violation by any person of any of these restrictions. Certain of the statements contained herein are not historical facts, including, without limitation, certain statements made of future expectations and other forward-looking statements that are based on current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements.