DP Eurasia N.V. has announced the cancellation of its listing and admission to trading following the acquisition of more than 75% of the voting rights by Jubilant Foodworks. The increased and final cash offer made by Jubilant Foodworks for the entire issued and outstanding share capital of DP Eurasia not already owned by Jubilant Foodworks at a price of 110 pence per DP Eurasia Share has led to the cancellation of listing and trading of DP Eurasia Shares on the London Stock Exchange's Main Market, expected to take effect on or shortly after 8.00 a.m. (London time) on 27 February 2024.
Jubilant Foodworks intends to convert DP Eurasia into a Dutch private company with limited liability and ultimately acquire 100% of the DP Eurasia Shares and/or the business and operations of DP Eurasia. This will significantly reduce the liquidity and marketability of any DP Eurasia Shares in respect of which the Increased Offer has not been accepted, affecting their value. Any remaining DP Eurasia Shareholders will become minority shareholders in a majority controlled private company with limited liability and may be unable to sell their DP Eurasia Shares.
Following the delisting of the DP Eurasia Shares, Jubilant Foodworks intends to seek to effect or cause to effect a restructuring of DP Eurasia for the purpose of achieving an optimal operational, legal, financial, or fiscal structure, subject to and in accordance with applicable laws. This may have the effect of diluting the shareholding of minority DP Eurasia Shareholders. DP Eurasia Shareholders that have not accepted the Increased Offer are urged to accept without delay. Further information on the associated risks for DP Eurasia Shareholders is set out in the Increased Offer Document.