Believe Announces Results of Buyout Offer and Next Steps
Results of the Public Buyout Offer by Believe
The public buyout offer made by Upbeat BidCo has reached a pivotal moment. Upbeat BidCo has secured an impressive majority of shares from Believe following the closure of the Offer, which took place recently. With a total of approximately 99.36 million shares acquired, representing an overwhelming 98.67% of the company's share capital, a significant development is underway for the future of Believe.
Next Steps for Upbeat BidCo and Believe
In light of this majority stake, Upbeat BidCo is preparing to file a request with the financial markets authority concerning a mandatory squeeze-out procedure. This is a formal process through which Upbeat BidCo aims to acquire all outstanding Believe shares not tendered during the Offer. This initiative aligns with the company’s strategic objectives and their stated intentions when initially proposing the buyout. The outcome of this filing and the subsequent execution of the squeeze-out procedures will mark an important transition for Believe and its shareholders.
Details of the Mandatory Squeeze-Out
The upcoming mandatory squeeze-out will occur at the same offer price of €17.20 per Believe share, ensuring fairness for existing shareholders who opted not to tender their shares during the Offer. While trading of Believe shares will be suspended until the completion of this squeeze-out, the company remains poised to communicate clearly with its stakeholders about the process ahead.
Implications for Believe's Financial Communications
As a direct consequence of the buyout developments and the planned squeeze-out, Believe will be discontinuing its financial communications. This means that the company will not publish its anticipated 2025 half-year results, which could change the landscape for financial analysts and investors closely monitoring Believe's performance. The shift indicates a pivotal moment for Believe as it transitions to a new governance structure under Upbeat BidCo.
A Closer Look at Believe
Believe has solidified its position as a leading digital music company within the global music landscape. The company is dedicated to empowering independent artists and labels by providing a comprehensive suite of digital services designed for growth and exposure. As Believe continues its trajectory in the digital space, its commitment to transparency and fairness remains a cornerstone of its operational ethos.
Connecting with Believe's Investor Relations
For stakeholders seeking further information, Believe has made its investor relations team readily available. Emilie Megel serves as the primary contact for any inquiries regarding the current changes and strategies following the buyout. Investors can reach out via email or telephone for any nuanced discussions about the future of Believe, and the ongoing developments related to its operations.
Contact Information
Emilie Megel can be contacted at emilie.megel@believe.com or by calling +33 6 07 09 98 60. Furthermore, those interested in media inquiries can connect with Marion Lanvin at marion.lanvin-ext@believe.com or reach her at +33 6 26 67 73 00.
Frequently Asked Questions
What were the results of the public buyout offer for Believe?
Upbeat BidCo successfully acquired 98.67% of Believe shares, leading to a mandatory squeeze-out process.
What is the mandatory squeeze-out process?
The squeeze-out allows Upbeat BidCo to acquire all remaining outstanding shares at the same offer price of €17.20 per share.
How will this affect Believe's financial communications?
Believe will no longer publish its financial communications, including its 2025 half-year results, amidst this transition.
Who should investors contact for more information?
Investors can contact Emilie Megel, the investor relations head, for any inquiries about the buyout and its implications.
What is Believe’s mission in the music industry?
Believe strives to empower independent artists and labels with comprehensive digital solutions to grow and manage their music careers effectively.
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