Issuer: Anderluh LPE BV / Key word(s): Miscellaneous
In December 2019 FlatexDEGIRO AG bought 100% of DEGIRO B.V. and at the closing in July 2020, the founders received 7.5 million flatex shares (now 30 million flatexdegiro shares).
The holding companies of two DEGIRO founders Anderluh LPE and Nola LPE hold flatexdegiro shares and have entered into collar structures in the last year.
These transactions result or may result into voting right announcements of third parties. Feedback received from the capital markets points out that there is unclarity about the purpose and the rationale of the collar structures as they appear in the voting rights announcements.
The founders have started the Sniptech venture since the sale of DEGIRO consisting of acquiring (partial) stakes in European companies related to the financial transactions and purchases of the consumer and bundling them in one unified B2B platform. In order to finance these activities, the founders have entered into collar structures.
At the time of entering in these structures, the founders deemed the stock price of flatexdegiro unattractive for selling shares. The rationale behind the collar structures and the range of the strikes is to provide liquidity without selling the flatexdegiro shares beyond the levels most analysts see as a realistic target price.
This information is provided to increase transparency on the rationale and considerations of the collar structures entered by the mentioned shareholders in order to be able to interpret the public voting right announcements related to these transactions.
A collar is a financial derivative consisting of a long position in a put and a short position in a call.
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Anderluh LPE BV
1082 MK Amsterdam
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