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u-blox AG / Key word(s): Statement
u-blox welcomes Spectrum Entrepreneurial Ownership as anchor shareholder
15-Nov-2023 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.
Thalwil, Switzerland – 15 November 2023 – u-blox (SIX: UBXN), a global leader in wireless and positioning technologies, through its Board of Directors and Executive Committee welcomes Spectrum Entrepreneurial Ownership (SEO) as long-term anchor shareholder. SEO started building their stake some time ago and yesterday crossed the 5% reporting threshold. This was also due to the acquisition of treasury shares held by u-blox. As a result, SEO is now the company's largest shareholder.
André Müller, Chairman of the Board of Directors of u-blox, commented: "A long-term committed, anchor shareholder is important for the stable development of u-blox. In addition, we appreciate the exchange with the professional SEO team."
Fabian Rauch, Co-Founder and Managing Partner of Spectrum Entrepreneurial Ownership, added: "u-blox is an excellently positioned company with a lot of potential for development and value creation. We have great confidence in the management team and look forward to accompanying the company on its journey in the coming years."
u-blox envisages to propose for election a representative of SEO for an additional seat in the Board of Directors at the 2024 Annual General Meeting.
About u-blox
u‑blox (SIX:UBXN) is a global technology leader in positioning and wireless communication in automotive, industrial, and consumer markets. Their smart and reliable solutions, services and products let people, vehicles, and machines determine their precise position and communicate wirelessly over cellular and short-range networks. With a broad portfolio of chips, modules, and secure data services and connectivity, u‑blox is uniquely positioned to empower its customers to develop innovative and reliable solutions for the Internet of Things, quickly and cost‑effectively. With headquarters in Thalwil, Switzerland, the company is globally present with offices in Europe, Asia, and the USA.
(www.ublox.com)
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About Spectrum Entrepreneurial Ownership
Spectrum Entrepreneurial Ownership (SEO ) manages a concentrated portfolio of large minority investments in listed European companies, with a focus on the DACH region. As a long-term and engaged anchor shareholder, SEO strives to unleash its portfolio companies’ full value potential. The SEO team has many years of experience in implementing this strategy, which often comprises representation on the board of directors. The fund’s stable capital base stems from family offices, endowments, pension funds and other long-term institutional investors. www.spectrum-eo.com.
Disclaimer
This release contains certain forward‑looking statements. Such forward‑looking statements reflect the current views of management and are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the u‑blox Group to differ materially from those expressed or implied. These include risks related to the success of and demand for the Group’s products, the potential for the Group’s products to become obsolete, the Group’s ability to defend its intellectual property, the Group’s ability to develop and commercialize new products in a timely manner, the dynamic and competitive environment in which the Group operates, the regulatory environment, changes in currency exchange rates, the Group’s ability to generate revenues and profitability, and the Group’s ability to realize its expansion projects in a timely manner. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this report. u‑blox is providing the information in this release as of this date and does not undertake any obligation to update any forward‑looking statements contained in it as a result of new information, future events or otherwise.
End of Inside Information
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