FINANCIAL INFORMATION – REGULATED INFORMATION
Sale of UEST NV to VAN ZELE HOLDING NV
Leuven, February 23, 2021 – 19h15 CET – CRESCENT NV (Euronext Brussels: OPTI), CRESCENT NV sold 100% shares of UEST NV to VAN ZELE HOLDING NV (VZH) on December 28, 2020 for 1 EUR (equity value), which is the same value as the original purchase price in 2019.
VZH is director and reference shareholder in CRESCENT NV, and for this reason has a possible conflicting interest of a patrimonial nature in the transaction. The legally required procedures in application of the conflict of interest regulation were respected.
UEST NV has been sold in the condition it is in, of which VZH is aware, including the need to restore the working capital estimated at 200,000 EUR. VZH is also aware that an additional significant investment is required to update the hardware and software platform.
CRESCENT does not consider the activities of UEST as strategic, and prefers to focus its investments on developments in smart city and smart industry applications.
The committee of independent directors, in its advice to the Board of Directors, concludes that after evaluating the available information, in particular the reports of Finvision as an independent expert dated December 2, 2020, the proposed transaction does not involve any apparent prejudice to the Company. It recommends that the Board of Directors approves this transaction.
Finvision’s report on valuation of this transaction was made available on Crescent’s website ((www.opticrescent.com) under Reports and Publications_Board Reports_Board of Directors_Independent Expert Report.
CONTACT
Edwin Bex
Avenue Gaston Geens 14
B-3001 Leuven, Belgium
TEL: +32 (0) 16 31 74 11
E-mail: investor@option.com
www.opticrescent.com
