Leuven, Belgium – 21 august– 18:00 CET, Crescent NV, Geldenaaksebaan 329, 3001 Heverlee (Euronext Brussels: OPTI)
Crescent NV announces that on August 15, it has entered into a final agreement for the sale of a 51% stake in Remoticom Holding BV to a consortium established by its former owners Nova Focus Holding BV.
Going forward, Crescent NV will focus on three operational divisions, namely Sait BV (RF projects and services), Innolumis Public Lighting BV (energy saving RGB/LED street lighting), and Option (supply of IoT devices such as sensors, gateways, connectivity solutions, and RF engineering services) in addition to a minority interest in Remoticom Holding BV (49%).
Joost van der Velden remains CEO of Remoticom Holding BV, while newly appointed Filip Van Craenenbroeck will assume responsibilities as CEO of Option.
Filip brings a wealth of experience in the company’s renowned core activities in wireless connectivity and ‘traditional gateway’ operations, with a strengthened focus on security and user-friendly software. His team also brings new front-end (commercial) and project management capabilities. In the future, Crescent and Option will focus on increasingly vibrant European markets, with an emphasis on state-of-the-art security and top-notch reliable performance!
Crescent wishes Joost and Filip every success in their new challenges.
The transaction with Remoticom was structured as a share swap combined with a cash consideration and was enabled and facilitated by VZH NV, which in the process acquired 134 million additional shares of Crescent NV (originating from the buyers of the Remoticom shares) at current market value. As a result Crescent’s debt towards VZH NV decreased by the same amount. The final closing of the agreement is expected end of august.
Van Zele Holding announces that it has reached an agreement with a new strategic investor to transfer in two installments 200 million shares against payments by the end of September.
A few days before the Remoticom deal, and in order to address unanticipated cash needs or transactional delays, Crescent concluded an agreement with Hexagon Capital Fund for the issuance of bonds for an amount of up to €600,000. Each bond has a nominal value of €1,000 and a term of 24 months at an interest rate of 10%. VZH guaranteed these bonds with its shares (no further dilution). To date, Crescent has issued bonds for €200,000.
Finally, Crescent confirms its intention to launch the reverse stock split process before the end of the year, when all of the above-referenced steps and processes have been completed.
We will provide extensive comments and financial details on our results for the first half-year on September 19.
CONTACT
Edwin Bex
Geldenaaksebaan 329
B-3001 Leuven, Belgium
TEL: +32 (0) 16 31 74 11
E-mail: investor@option.com
www.crescent-ventures.com
