Dutch Star Companies ONE confirms 70% of shareholders have already granted a proxy to approve the business combination with CM.com
Dutch Star Companies ONE N.V. (Euronext - DSC1 / ISIN code NL0012747059) - Regulatory news
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With reference to the joint press release of CM.com B.V. (together with its subsidiaries, “CM.com”), a global Conversational Commerce platform that provides enterprises full-scale CPaaS (Communication Platform as a Service) services with integrated payment solutions, and Dutch Star Companies ONE N.V. ("DSCO"), a special purpose acquisition company listed on Euronext Amsterdam (symbol: DSC1) of 9 January 2020 that they reached an agreement on forming a business combination, DSCO announces today it has now reached the 70 percent threshold of DSCO shareholders having granted a proxy to vote in favour of the proposed business combination.
Niek Hoek on behalf of the promoters of DSCO: “We are very pleased with the support we already received from our shareholders as it now guarantees their commitment in realizing this Business Combination of CM.com and Dutch Star Companies ONE as a win-win for both companies and its shareholders.”
In reaching this threshold the business combination is on track to become effective on 21 February 2020. Completion of the business combination is subject to a number of customary approvals, including approval from the DSCO shareholders at the Extraordinary General Meeting of Shareholders to be held on 20 February 2020 and a Declaration of No Objection (“DNO”) by the Dutch Central Bank. The approval of DSCO shareholders is subject to two voting thresholds: a 70% threshold to approve the merger; and a 90% threshold to approve the use of the mandatory bid exemption for each of CM.com's founders to be able to acquire more than 30% of the voting rights in the business combination. DSCO has now secured sufficient proxies from its shareholders to reach the 70% threshold required for approval of the merger.
For more information, download full press release/report below:
Dutch Star Companies ONE N.V. (the Company or DSCO) is a special purpose acquisition company incorporated on 3 January 2018, under the laws of the Netherlands as a public limited liability company (naamloze vennootschap) for the purpose of acquiring a minority stake in a business with principal business operations in Europe, preferably in the Netherlands.