VT5 announces decision of Takeover Board – VT5 informiert über Verfügung der Übernahmekommission – VT5 annonce la décision de la Commission des offres publiques d’acquisition

This announcement or the information contained therein is not being issued and may not be distributed in the United States of America, Canada, Australia or Japan or any other jurisdiction in which the distribution or release would be unlawful or require registration or any other measure and does not constitute an offer of securities for sale in such countries.

Press Release

2 November 2023

VT5 announces decision of Takeover Board  

Decision of the Takeover Board 858/01 of 1 November 2023 regarding VT5 Acquisition Company Ltd – Non-existence of an obligation to submit an offer and/or exception to such an obligation.

On 10 October 2023, VT5 Acquisition Company Ltd submitted an application concerning the non-existence of an obligation to submit an offer and/or an exception of such an obligation regarding VT5 Acquisition Company Ltd.

By decision of 1 November 2023, the Takeover Board decided as follows:

1. Rejecting the main application, section 1, it is determined that the signing of commitment letters by shareholders of VT5 Acquisition Company Ltd with VT5 Acquisition Company Ltd, each of which commits them in the context of the envisaged De-SPAC transaction (i) to maintain their investment and, if necessary, to subscribe for additional shares, (ii) to vote in favor of the envisaged De-SPAC transaction at the investors' meeting, as well as (iii) to vote in favor of the resolutions necessary for the envisaged De-SPAC transaction at the shareholders' meeting, if the threshold of 33%% is exceeded, leads to the formation of a group subject to the obligation to make an offer within the meaning of article 33 FinMIO-FINMA in conjunction with article 12 para. 1 FinMIO-FINMA.
2. In connection with the intended signing of commitment letters by shareholders of VT5 Acquisition Company Ltd with VT5 Acquisition Company Ltd, each of which commits them in the context of the envisaged De-SPAC transaction (i) to maintain their investment and, if necessary, to subscribe for additional shares, (ii) to vote in favor of the envisaged De-SPAC transaction at the investors' meeting and (iii) to vote in favor of the resolutions necessary for the envisaged De-SPAC transaction at the shareholders' meeting, an exemption from the obligation to make an offer is granted to the respective shareholders of VT5 Acquisition Company Ltd individually as well as in their entirety as a group.
3. VT5 Acquisition Company Ltd is obliged (i) to inform the Takeover Board about the identity of all shareholders signing the commitment letters (name or company and domicile) and (ii) to provide the Takeover Board with a copy of all signed commitment letters; this within a period of five trading days after the announcement or knowledge of all shareholders signing the commitment letters.
4. Pursuant to article 61 para. 3 and 4 of the Takeover Board ordinance, VT5 Acquisition Company Ltd publishes the dispositive of the present decision and the reference to the possibility of qualified shareholders to object to this decision.
5. The present decision will be published on the website of the Takeover Board subsequent to its publication pursuant to section 4 above.
6. The fee at the expense of VT5 Acquisition Company Ltd amounts to CHF 40'000.

Objection

A shareholder providing evidence of holding at least 3 percent of the voting rights in VT5 Acquisition Company Ltd, irrespective of whether they are exercisable or not (a qualified shareholder in the sense of art. 56 para. 3 of the Ordinance of the Takeover Board on Public Takeover Offers) may file an objection with the Takeover Board against this decision. The objection must be submitted to the Takeover Board (Übernahmekommission, Selnaustrasse 30, Postfach, CH-8021 Zürich, [email protected], Telefax: +41 58 499 22 91) within five trading days as from the publication of the decision of the Takeover Board on its website (www.takeover.ch). The time period starts on the first day of trading after the publication of the decision of the Takeover Board on its website. The objection must contain a formal application and a summary of the reasons, as well as proof of the holding in accordance with art. 56 paras. 3 and 4 of the Ordinance of the Takeover Board on Public Takeover Offers.

Medienmitteilung

2. November 2023

VT5 informiert über Verfügung der Übernahmekommission 

Verfügung der Übernahmekommission 858/01 vom 1. November 2023 betreffend VT5 Acquisition Company AG – Nichtbestehen einer Angebotspflicht bzw. Ausnahme davon

VT5 Acquisition Company AG hatte am 10. Oktober 2023 ein Gesuch betreffend das Nichtbestehen einer Angebotspflicht bzw. Ausnahme davon betreffend VT5 Acquisition Company AG gestellt.

Die Übernahmekommission hat am 1. November 2023 folgende Verfügung erlassen:

1. In Abweisung des Hauptantrags, Ziff. 1 wird festgestellt, dass die Unterzeichnung von Commitment Lettern durch Aktionäre der VT5 Acquisition Company AG mit der VT5 Acquisition Company AG, welche diese jeweils dazu verpflichten im Rahmen der geplanten De-SPAC Transaktion (i) ihre Investition aufrecht zu erhalten und ggf. weitere Aktien zu zeichnen, (ii) an der Investorenversammlung für die geplante De-SPAC Transaktion zu stimmen sowie (iii) an der Generalversammlung für die für die geplante De-SPAC Transaktion notwendigen Beschlüsse zu stimmen, bei Überschreiten des Grenzwertes von 33%% zur Bildung einer angebotspflichtigen Gruppe i.S.v. Art. 33 FinfraV-FINMA i.V.m. Art. 12 Abs. 1 FinfraV-FINMA führt.
2. Im Zusammenhang mit der beabsichtigten Unterzeichnung von Commitment Lettern durch Aktionäre der VT5 Acquisition Company AG mit der VT5 Acquisition Company AG, welche diese jeweils dazu verpflichten im Rahmen der geplanten De-SPAC Transaktion (i) ihre Investition aufrecht zu erhalten und ggf. weitere Aktien zu zeichnen, (ii) an der Investorenversammlung für die geplante De-SPAC Transaktion zu stimmen sowie (iii) an der Generalversammlung für die für die geplante De-SPAC Transaktion notwendigen Beschlüsse zu stimmen, wird den entsprechenden Aktionären der VT5 Acquisition Company AG je einzeln sowie in ihrer Gesamtheit als angebotspflichtige Gruppe eine Ausnahme von der Angebotspflicht gewährt.
3. VT5 Acquisition Company AG wird verpflichtet, (i) die Übernahmekommission über die Identität aller die Commitment Letter unterzeichnenden Aktionäre (Name bzw. Firma und [Wohn-]Sitz) in Kenntnis zu setzen und (ii) ihr eine Kopie sämtlicher unterzeichneter Commitment Letter zuzustellen; dies innert einer Frist von fünf Börsentagen nach Bekanntwerden bzw. Kenntnis aller die Commitment Letter unterzeichnenden Aktionäre.
4. VT5 Acquisition Company AG veröffentlicht in Anwendung von Art. 61 Abs. 3 und 4 UEV das Dispositiv der vorliegenden Verfügung und den Hinweis auf die Möglichkeit der qualifizierten Aktionäre, Einsprache gegen diese Verfügung zu erheben.
5. Die vorliegende Verfügung wird im Nachgang zu deren Veröffentlichung gemäss Dispositiv Ziff. 4 hiervor auf der Website der Übernahmekommission publiziert.
6. Die Gebühr zu Lasten der VT5 Acquisition Company AG beträgt CHF 40'000

Einsprache

Eine Aktionärin oder ein Aktionär, welche oder welcher eine Beteiligung von mindestens 3% der Stimmrechte an VT5 Acquisition Company AG, ob ausübbar oder nicht, nachweist (qualifizierte Aktionärin bzw. qualifizierter Aktionär i.S. von Art. 56 Abs. 3 UEV), kann gegen diese Verfügung bei der Übernahmekommission Einsprache erheben. Die Einsprache ist innerhalb von fünf Börsentagen nach der Veröffentlichung der Verfügung der Übernahmekommission auf ihrer Webseite (www.takeover.ch) bei der Übernahmekommission einzureichen (Selnaustrasse 30, Postfach, CH-8021 Zürich, [email protected], Fax: +41 58 499 22 91). Die Frist beginnt am ersten Börsentag nach der Veröffentlichung der Verfügung der Übernahmekommission auf ihrer Webseite zu laufen. Die Einsprache muss einen Antrag und eine summarische Begründung sowie den Nachweis der Beteiligung gemäss Art. 56 Abs. 3 und 4 UEV enthalten.

Communiqué de presse

2 Novembre 2023

VT5 annonce la décision de la Commission des offres publiques d’acquisition

Décision de la Commission des offres publiques d’acquisition 858/01 du 1^er novembre 2023 concernant VT5 Acquisition Company SA – Absence d’une obligation de présenter une offre et/ou exception d’une telle obligation

VT5 Acquisition Company SA a soumise le 10 octobre 2023 une requête portant sur l’absence d’une obligation de présenter une offre et/ou une exception d’une telle obligation concernant VT5 Acquisition Company SA.

Par décision du 1^er novembre 2023, la Commission des offres publiques d'acquisition a décidé comme suit:

1. Rejetant la requête principale, chiffre 1, il est constaté que la signature de lettres d'engagement par des actionnaires de VT5 Acquisition Company SA avec VT5 Acquisition Company SA, par lesquelles ceux-ci s'engagent dans le cadre de la transaction De-SPAC prévue, (i) à maintenir leur investissement et, le cas échéant, à souscrire des actions supplémentaires, (ii) à voter en faveur de la transaction De-SPAC prévue lors de l'assemblée des investisseurs ainsi que (iii) à voter en faveur des décisions nécessaires à la transaction De-SPAC prévue lors de l'assemblée générale, entraîne, en cas de dépassement du seuil de 33%, la formation d'un groupe soumis à l'obligation de présenter une offre en vertu de l'art. 33 OIMF-FINMA en relation avec l'art. 12 para. 1 OIMF-FINMA.
2. En relation avec la signature prévue de lettres d'engagement par des actionnaires de VT5 Acquisition Company SA avec VT5 Acquisition Company SA, qui les engagent dans le cadre de la transaction De-SPAC prévue (i) à maintenir leur investissement et, le cas échéant, à souscrire des actions supplémentaires, (ii) à voter en faveur de la transaction De-SPAC prévue lors de l'assemblée des investisseurs ainsi que (iii) à voter en faveur des décisions nécessaires à la transaction De-SPAC prévue lors de l'assemblée générale, une exception à l'obligation de présenter une offre est accordée aux actionnaires correspondants de VT5 Acquisition Company SA, individuellement ainsi que dans leur ensemble en tant que groupe.
3. VT5 Acquisition Company SA est tenue (i) d'informer la Commission des offres publiques d'acquisition de l'identité de tous les actionnaires ayant signé la lettre d'engagement (nom ou raison sociale et domicile) et (ii) de lui faire parvenir une copie de toutes les lettres d'engagement signées ; ceci dans un délai de cinq jours de bourse après avoir eu connaissance de tous les actionnaires ayant signé une lettre d'engagement.
4. VT5 Acquisition Company SA publie, en vertu de l'art. 61 para. 3 et 4 OOPA, le dispositif de la présente décision et mentionne la possibilité pour les actionnaires qualifiés de former opposition contre cette décision.
5. La présente décision sera publiée sur le site internet de la Commission des offres publiques d'acquisition après sa publication conformément au chiffre 4 du dispositif ci-dessus.
6. Les frais à la charge de VT5 Acquisition Company SA s'élèvent à CHF 40'000.

Objection

Un actionnaire qui prouve détenir au minimum 3% des droits de vote, exerçables ou non, de la société VT5 Acquisition Company SA (actionnaire qualifié au sens de l’art. 56 al. 3 OOPA) peut former opposition auprès de la Commission des offres publiques d’acquisition contre cette décision. L’opposition doit être déposée auprès de la Commission des offres publiques d’acquisition (Selnaustrasse 30, Postfach, CH-8021 Zürich, [email protected], téléfax: +41 58 499 22 91) dans les cinq jours de bourse suivant la publication du dispositif de la décision de la Commission des OPA sur le site web de la Commission (www.takeover.ch). Le délai commence à courir dès le premier jour de bourse suivant la publication de la décision de la Commission des OPA sur leur site web. L’opposition doit comporter une conclusion, une motivation sommaire et la preuve de la participation de son auteur conformément à l’art. 56 al. 3 et 4 OOPA.

Contact

VT5 Acquisition Company AG

Communications & Investor Relations

Doris Rudischhauser

Phone: +41 79 410 81 88

Email: [email protected]

 

About VT5

VT5 is a special purpose acquisition company (SPAC), a vehicle to directly or indirectly acquire one or (if at the same time) more operating companies or businesses in order to take them public and provide dedicated support. VT5 provides a target company with the industry and technical experience of a seasoned team to allow a fast and smooth way to become a public company in Switzerland. VT5 seeks to unlock this investment opportunity for investors by entering into a business combination with a technology and innovation leader backed by scientific research within 24 months of listing. Geographically, VT5 is looking to acquire a business in Central and Northern Europe with a focus on the DACH region and in particular on Switzerland.

The Class A Shares and redeemable Warrants are listed on SIX Swiss Exchange under the symbols of VT5 and VT5W, respectively.

More information about VT5 can be found at www.vt5.ch.

Disclaimer

The business combination and its implementation remains subject to approval by the investor shareholders of VT5, the approval by the VT5 shareholders meeting of other items necessary to implement a business combination, the conducting of a share repurchase to allow redemptions by shareholders, the successful completion of an offering and capital increase to finance any parts of the purchase not financed by the amounts in escrow or otherwise, and obtaining of all required approvals by the stock exchange.

This announcement may contain forward looking statements, estimates, opinions and projections with respect to anticipated future performance of VT5 ("forward-looking statements"). These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "aims," "believes," "estimates," "anticipates," "expects," "intends," "may," "will" or "should" or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. Forward-looking statements are based on the current views, expectations and assumptions of the Board and management of VT5 and involve significant known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Forward-looking statements should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not such results will be achieved. Any forward-looking statements included herein only speak as at the date of this release. VT5 undertakes no obligation, and does not expect to publicly update, or publicly revise, any of the information, forward-looking statements or the conclusions contained herein or to reflect new events or circumstances or to correct any inaccuracies which may become apparent subsequent to the date hereof, whether as a result of new information, future events or otherwise. VT5 accepts no liability whatsoever in respect of the achievement of such forward-looking statements and assumptions.

This announcement constitutes neither an offer to sell nor a solicitation to buy securities of VT5 and it does not constitute a prospectus or a similar notice within the meaning of articles 35 et seqq. or 69 of the Swiss Financial Services Act. Copies of this announcement may not be sent to jurisdictions or distributed in or sent from or otherwise made publicly available in jurisdictions, in which this is barred or prohibited by law. Any investment decision regarding the publicly offered securities of VT5 should only be made on the basis of a respective prospectus, if and when published.

This announcement is being distributed only to, and is directed only at (i) persons outside the United Kingdom, (ii) persons who have professional experience in matters relating to investments falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (iii) high net worth entities, and other persons to whom it may otherwise lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as "Relevant Persons"). Any investment or investment activity to which this announcement relates is available only to Relevant Persons and will be engaged in only with Relevant Persons. Any person who is not a Relevant Person must not act or rely on this announcement or any of its contents.

This announcement does not constitute an "offer of securities to the public" within the meaning of Regulation 2017/1129 of the European Union (the "Prospectus Regulation") of the securities referred to in it (the "Securities") in any member state of the European Economic Area (the "EEA") or, in the United Kingdom ("UK"), the Regulation (EU) 2017/1129 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended (the "UK Prospectus Regulation"). Any offers of the Securities to persons in the EEA or the UK will be made pursuant to an exemption under the Prospectus Regulation or the UK Prospectus Regulation (as applicable), as implemented in member states of the EEA or the UK, from the requirement to produce a prospectus for offers of the Securities.

Securities referred to herein have not been and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States or to U.S. persons (as such term is defined in Regulation S under the Securities Act) unless the securities are registered under the Securities Act, or an exemption from the registration requirements of the Securities Act is available. The issuer of the securities has not registered, and does not intend to register, any portion of the offering, if any, in the United States, and does not intend to conduct a public offering of securities in the United States. In an offering, if any, the securities may be offered and sold outside the United States in reliance on Regulation S and within the United States to "Qualified Institutional Buyers" (as defined in Rule 144A under the Securities Act ("Rule 144A")) in reliance on Rule 144A. Prospective purchasers are hereby notified that sellers of the securities may be relying on the exemption from the provisions of Section 5 of the Securities Act provided by Rule 144A.

This announcement or the information contained therein is not being issued and may not be distributed in the United States of America, Canada, Australia, Japan, or any other jurisdiction in which the distribution or release would be unlawful or require registration or any other measure and does not constitute an offer of securities for sale in such countries.