Press release of the
The Blocks Acquisitions and the ensuing Offer were indicated to be subject to, on the one hand, obtaining the necessary regulatory approvals (the “Regulatory Condition”), and, on the other hand, on the Board of Directors of Believe giving its positive recommendation of the Offer notably following issuance of the independent expert report relating to the Offer stating that the take private Offer is fair from a financial standpoint, and consultation of the social and economic committee of Believe, the Board stating that the Offer is in the interest of Believe, its shareholders and its employees and recommending to all shareholders to tender the shares they hold in Believe into the Offer (the “Board Condition”).
BidCo has informed the Board of Directors of the Company on
The Ad-Hoc Committee also notes that further to the announcement of the Offer by the Consortium on
The Ad-hoc Committee notes that the completion of the Block Acquisitions would put BidCo in a position of majority control of Believe, so that, under those circumstances, it would prevent a competing bidder from acquiring control.
The Ad-Hoc Committee will examine with the interested party whether such party envisages further steps.
The Ad-Hoc Committee will continue to perform its mission and keep the market informed in accordance with applicable rules.
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About Believe
Believe is one of the world’s leading digital music companies. Believe’s mission is to develop independent artists and labels in the digital world by providing them the solutions they need to grow their audience at each stage of their career and development. Believe’s passionate team of digital music experts around the world leverages the Group’s global technology platform to advise artists and labels, distribute and promote their music. Its 1,919 employees in more than 50 countries aim to support independent artists and labels with a unique digital expertise, respect, fairness and transparency. Believe offers its various solutions through a portfolio of brands including Believe, TuneCore, Nuclear Blast, Naïve, Groove Attack, AllPoints, Ishtar and Byond. Believe is listed on compartment B of the regulated market of Euronext Paris (Ticker: BLV, ISIN: FR0014003FE9). www.believe.com
Forward Looking statement
This press release contains forward-looking statements regarding the prospects and growth strategies of Believe and its subsidiaries (the “Group”). These statements include statements relating to the Group’s intentions, strategies, growth prospects, and trends in its results of operations, financial situation and liquidity. Although such statements are based on data, assumptions and estimates that the Group considers reasonable, they are subject to numerous risks and uncertainties and actual results could differ from those anticipated in such statements due to a variety of factors, including those discussed in the Group’s filings with the French Autorité des Marchés Financiers (AMF) which are available on the website of Believe (www.believe.com). Prospective information contained in this press release is given only as of the date hereof. Other than as required by law, the Group expressly disclaims any obligation to update its forward-looking statements in light of new information or future developments. Some of the financial information contained in this press release is not IFRS (International Financial Reporting Standards) accounting measures.
Press contacts: believe@brunswickgroup.com Hugues Boëton |+33 6 79 99 27 15 | Investor Relations contact: Emilie.megel@believe.com Emilie MEGEL| +33 6 07 09 98 60 |
Attachment
- Press release - Believe - Information -
01.03.2024
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