At March 16, 2017, Avast Software B.V. (“Avast“) enforced the judgement of the Enterprise Chamber of the Court of Appeal of Amsterdam, the Netherlands (the “Enterprise Court“) of 14 February 2017.
As announced on February 15, 2017, The Enterprise Court ordered all minority shareholders of AVG Technologies B.V. (“AVG“) to transfer their shares to Avast in exchange for a payment of EUR 22.84 per share in cash, increased by statutory interest to be calculated over the period from October 31, 2016 until the date of transfer of the shares.
Up until March 15, 2017, shareholders of AVG could voluntarily adhere to the judgment of the Enterprise Court by transferring their shares in AVG to Avast. On March 16, 2017, Avast enforced the judgement of the Enterprise Court by transferring the aggregate squeeze-out price of the remaining outstanding shares in AVG to the Consignment Fund of the Ministry of Finance of the Netherlands (the “Consignment Fund“).
As a result of the consignment, all remaining outstanding shares of AVG that were not yet held by Avast were transferred to Avast by operation of law as per 16 March 2017. The former holders of these shares should reach out to the Consignment Fund for payment of the squeeze-out price.
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