HEERENVEEN (THE NETHERLANDS), 20 APRIL 2022 - Accell Group N.V. the leading European bicycle compay with well-known brands such as Haibike, Koga, Batavus and Raleigh, announces that all binding resolutions proposed to shareholders were passed at the General Meeting (GM) held today. The advisory vote with regard to the 2021 remuneration of the Board of Management did not pass.

Following approval by the GM, Ms. Daniëlle Jansen Heijtmajer and Mr. Gert van de Weerdhof were re-appointed as members of the Supervisory Board for a second term of four years. In addition, Mr. Ton Anbeek (CEO) and Mr. Ruben Baldew (CFO) were re-appointed as members of the Board of Management for a second term of four years.

Rob ter Haar, Chairman of the Supervisory Board: “We are pleased with the approved re-appointments of Danielle and Gert as members of Supervisory members and the ongoing commitment of Ton and Ruben as our respective CEO and CFO. Including the recent appointment of Francesca Gamboni as CSCO, we are confident that we have a Board of Management in place with all the right competencies to lead Accell Group in the years to come. We are looking forward to discuss the Public Offer as recently launched by the Consortium led by KKR with all our shareholders at the upcoming Extraordinary General Meeting on 20 May 2022.”

Other GM agenda resolutions
The GM adopted the 2021 Annual Accounts. The Board of Management was discharged for their management in 2021 and the Supervisory Board was discharged for its supervision of the management in that same year. Shareholders also appointed KPMG Accountants N.V. as Accell Group’s external auditor responsible for auditing the 2023 financial statements.

The GM renewed, for a period of 18 months, the existing authorization of the Board of Management to acquire, up to a maximum of 10% of the company’s ordinary shares issued at the time of the acquisition. Furthermore, the GM renewed, for a period of 18 months the existing authorization, to issue ordinary shares up to a maximum of 10 per cent of the number of ordinary shares outstanding. Finally, the GM renewed, for a period of 18 months the existing authorization of the Board of Management to limit or exclude pre-emptive rights in relation to the issue of ordinary shares, up to a maximum of 10 percent of the number of ordinary shares outstanding. The use of the aforementioned authorizations by the Board of Management is subject to the Supervisory Board’s approval. For a complete overview and details about the GM resolutions is referred to www.accell-group.com in the section ‘Corporate Governance / GM 2022’.

Upcoming EGM
On 20 May 2020, Accell Group will hold an Extraordinary General Meeting (EGM) with regard to the recommended all-cash Public Offer (the Offer) by the Consortium led by KKR for all Accell Group outstanding shares. The formal launch of the Offer was announced on 7 April 2022. The Acceptance Period during which shareholders can tender their shares is now open and closes on 3 June 2022.

More information for shareholders and all relevant documents with regard to the Offer and the EGM (including Offer Memorandum, Position Statement and EGM Convocation, agenda and explanatory notes) can be found at abouttheoffer.accell-group.com