Belfius and Ackermans & van Haaren invest in EVS to strengthen the shareholding structure
EVS Broadcast Equipment, the leading provider of live production solutions, today announces the realization of a capital increase within the framework of the authorized capital pursuant to which Ackermans & van Haaren NV, a Belgian diversified investment group active in different industries, and Belfius Insurance, have each subscribed to 351,012 newly issued shares (representing a participation of2.45% by new shareholder) at a price corresponding to the average closing price of the last 30 days (e.g.EUR 21.2133 per EVS share). As a result, EVS Broadcast Equipment’s share capital henceforth amounts to EUR 8,772,323 represented by 14,327,024 shares.
Through this operation, and in addition to the availability of these additional funds, EVS Broadcast Equipment reinforces its shareholding structure with the arrival of two new shareholders. Based on their profile and their financial means, they will be able to sustain the development of EVS activities notably in terms of strategy, product roadmaps and financing of future opportunities. With their long-term vision and expertise, these new shareholders will support EVS in a market confronted with on-going consolidation and disruptions. They will also contribute to a stronger corporate governance structure and decision-making process.
This capital increase has been made based on the authorization that had been granted to the board of directors by the extraordinary shareholders’ meeting held on 4 December 2017 to increase the capital of the company up to a maximum amount of EUR 1,600,000 (excluding issuance premium). The issuance of the above 702,024 new shares has been established by notarial deed today together with a corresponding EVS Broadcast Equipment’s share capital increase by EUR 429,844 and a total issuance premium of EUR 14,462,425.12 both by contribution in cash. Through this operation, the board of directors has therefore made a very reasonable use of the authorized capital having a limited dilution impact.
Dr. Pierre De Muelenaere, Chairman of the board and CEO ad interim of EVS declares: “EVS used to have reference shareholders with a strong strategic vision. Since the departure of the two founders of the company (Pierre L’Hoest and Laurent Minguet), who sold their position in the company, EVS was lacking strong reference shareholders ready to support the company with a long-term industrial vision.
Also, one of the feedback I have received during different investor’s roadshows, was that external investors were not well represented at the EVS board.
I’m now very pleased to welcome Belfius and Ackermans & van Haaren as new shareholders of EVS with a representation at Board level. The Board will propose to the General Meeting of May 2019 to appoint their representatives in the Board. I’m convinced that, thanks to their long-term vision and expertise, these renowned companies will help the EVS Board to make the best strategic choices and maximize the value created for all stakeholders of EVS.”
Baron Luc Bertrand, Chairman of Ackermans & van Haaren declares: “We are very excited to start this cooperation with EVS, which is one of the greatest Belgian success stories and a world-wide leader in the Live video production market. The broadcast industry is confronted with significant challenges with strong pressure on key players, important on-going consolidations and breakthrough evolution of the technologies. With our specific expertise in the broadcast sector, we will do our best to help the board and the management to take the best direction for the company and leverage the strong technological assets
of the company.”
Marc Raisière, CEO of Belfius: “Belfius is “the” Belgian bank and at the heart of our mission, we want to help the development of our local companies, start-ups or more confirmed champions. We want to bring to the EVS board our long-term vision and we will focus on the creation of value for the country and for the shareholders. We are pleased to see that Ackermans & van Haaren will also bring their complementary expertise to EVS.”
Dirk Vanderschrick, CEO of Belfius Insurance: “The acquisition of a stake in EVS is perfectly in line with the diversification of our investment portfolio, which supports the Belgian economy. Belfius Insurance is very proud to become a leading shareholder of one of the jewels of Belgian technology.”
Yvan Absil, CFO of EVS, comments: “The EVS board has decided to organize this capital increase in a balanced way with only 2.45% per new shareholder, who will not have any dominant position compared to other shareholders. This operation has a limited dilution impact which will be compensated by the benefits of the operation. We have made a very moderate use of the Authorized capital resulting in a reasonable increase of the net cash of the company. This additional cash available will be an asset for the EVS, in a rapidly changing market where some more consolidations are expected that might bring
acquisition or partnership opportunities. The new shareholders will certainly help EVS to have a longer-term vision and will help us with their specific expertise.”