GeoJunxion’s Supervisory and Management Boards respond to the non-solicited bid on the company’s shares.

29 Dec 2021 18:06 CET

Capelle aan den IJssel, the Netherlands, 29 December 2021 – GeoJunxion’s (GOJXN.AS) Supervisory and Management Boards acknowledge to have received and analyzed the non-solicited bid on Company’s shares from Nederlandse Paarden Registratie Maatschappij N.V. (NPRM N.V.).

Our analysis is based on limited details received or made available so far by NPRM N.V.:    

• The bid is indicative and non-binding and has the intent to acquire a minimum of 55% of the outstanding shares.
• It is the bidder's intention not to pay in cash, but to pay in shares of NPRM N.V. at an exchange rate of 4 GeoJunxion shares per 1 NPRM share. Per 22 December 2021 this corresponded to a value of €1,25 for a GeoJunxion share. The NPRM share price per 28 December was €4,80. This means that the value offered per GeoJunxion share has decreased to €1,20 and is subject to further fluctuations (up or down) based on the NPRM share price on nxchange.
• The most recent available financial information on NPRM N.V. is the 2020 Annual Accounts related to the accounting year ending on 31 December 2020. This provides no insights into the company’s current financial position and recent operating results.

The GeoJunxion Boards believe that the offer shows limited premium to the current GeoJunxion's share price, in particular considering the recent growth and improved results realized by the company as published in the 2020-2021 annual accounts (released per 21 October 2021) and in the quarterly updates (latest released per 11 November 2021). Additionally, being an offer in shares and not in cash, it triggers the need to receive and study additional details about NPRM’s business, financial position, and tradability of its shares.

The GeoJunxion Boards are looking forward to receiving additional, more exhaustive details about NPRM’s financial position and business plans. Currently, the Boards consider the offer to be too low and not representing the real value of the Company, its current business and near-term outlook.

Ends

About GeoJunxion  

GeoJunxion is the crossroads where fundamental, location-aware content connects with superior, customised intelligence and highly focused innovations to empower exceptional experiences. With an emphasis on safety and sustainability, we are constantly expanding our portfolio to meet the demands of a diverse and fast-evolving market. Building on decades of experience in mapping, the company focuses on high value, dynamic content and building environmentally conscious applications, which enrich safety in everyday life. With location-aware content at our core, we know where our strengths lie and have the know-how and technology needed to offer unrivalled, intelligent products and services.  

GeoJunxion NV is listed on the regulated market of Euronext Amsterdam, under the symbol GOJXN.AS.  

GeoJunxion Press Contact  

Tel:      +31 (0)10 885 1200 Email:  info@geojunxion.com