Alyrick BV brings total holdings of Smartphoto Group to 73% after

Smartphoto group NV announced Alyrick BV revealed the results of the initial acceptance period of its mandatory public takeover bid in cash for all outstanding shares in Smartphoto not already held by Alyrick or its affiliates. During the initial acceptance period, 706,665 shares in Smartphoto were offered in the bid (or a total of 17.93% of the number of outstanding shares). As a result, Alyrick will hold a total of 2,877,953 shares in Smartphoto (or a total of 73.01% of the number of shares outstanding) as of the Payment Date. Accordingly, as of the Payment Date, Alyrick, together with its related persons (being Alychlo NV, Cecan NV, and Smartphoto), will hold 3,672,117 shares in Smartphoto, or a total of 93.15% of the number of shares outstanding.

Since this is less than 95%, Alyrick is reopening the bid on Monday, May 26, and it will continue through Monday, June 16. Shareholders who not yet accepted the bid price of euro 28.50 per share can still do so during this second period.

Back in March, the Smartphoto board of directors had taken note of the sale by shareholders Shopinvest NV and De Vleterbeek NV of their respective shareholdings in smartphoto group NV (amounting to 18.24% in total) to Alyrick BV, an entity controlled by Alychlo NV (controlled by Marc Coucke) and Midelco NV (controlled by Philippe Vlerick). The board noted Alyrick’s intention to launch a mandatory public takeover bid for all outstanding shares of smartphoto group NV as a result of the completion of the aforementioned sale, which the board supports.