Hedosophia European Growth- Initiation of Redemption and Liquidation
3.5.2023 08:00:00 EEST | Business Wire | Press release
Hedosophia European Growth (the "Company") today announces that it will not conclude a Business Combination ahead of its Business Combination Deadline of 18 May 2023. To this end, the Company's board has unanimously resolved that it is in the Company's best interests to liquidate the Company and shall take all required steps for redemption and liquidation as soon as possible from the Business Combination Deadline.
In accordance with the Company's Prospectus, the Company will cease all operations from 18 May 2023, except for the purpose of winding up. As promptly as possible but not more than 10 Trading Days afterwards, the Company will redeem all Units and Ordinary Shares. Thereafter, as promptly as reasonably possible following such redemption the Company will liquidate and dissolve, subject to board and shareholder approval.
Holders of Units and Ordinary Shares will receive redemption proceeds from the Escrow Account through payment by the Listing Agent, which is currently estimated to be at least EUR 10 per Unit or Ordinary Share. The Sponsor Shares and Warrants will not receive any payment from the Escrow Account. The Warrants will expire worthless after the Business Combination Deadline.
The costs relating to the liquidation and dissolution of the Company are expected to be funded by the Sponsor Entity.
Indicative Timetable
The timetable below sets forth certain expected key dates for the redemption and liquidation:
|
Event |
Date |
|
Business Combination Deadline |
18 May 2023 |
|
Delisting of Units, Ordinary Shares and Warrants |
19 May 2023 (before trading hours) |
|
Expiration of Warrants |
19 May 2023 |
|
Record date for redemption of Units and Ordinary Shares |
22 May 2023 (after trading hours) |
|
Payment of redemption proceeds to holders of Units and Ordinary Shares |
23 May 2023 |
|
Redemption of Units and Ordinary Shares |
24 May 2023 |
|
Resolution by holders of Sponsor Shares approving the commencement of the voluntary liquidation and the appointment of voluntary liquidators |
25 May 2023 |
|
Final general meeting |
6 July 2023 |
|
Completion of the dissolution of the Company |
6 October 2023 |
About Hedosophia European Growth
The Company is a special purpose acquisition company that aimed to identify a unique investment opportunity within industries that were technology-enabled and benefited from strong underlying macro trends. The Company is sponsored by Hedosophia Group Limited, a global investor in leading technology companies.
The Company is registered with the Registrar of Companies under incorporation number 370531 and has its registered office in Grand Cayman, Cayman Islands.
More information about the Company, including the Company's initial public offering (the "IPO") prospectus dated 12 May 2021 (the "Prospectus"), which was approved by the Dutch Authority for the Financial Markets (Stichting Autoriteit Financiële Markten, the "AFM"), can be found on the Company's website www.hedosophiaeuropeangrowth.eu.
Disclaimer
This announcement contains information that qualifies, or may have qualified, as inside information within the meaning of Article 7(1) of Regulation (EU) No 596/2014 on market abuse.
Capitalised terms used but not defined herein shall have the respective meanings given to them in the Prospectus.
This announcement may include forward-looking statements, which are based on the Company's current expectations and projections regarding a Business Combination or liquidation, the business, the economy and other future conditions of the Company and speak only as of the date hereof. These forward-looking statements may be identified by the use of forward-looking terminology, including the terms ''believes'', "aims", "forecasts", "continues", ''estimates'', ''plans'', ''projects'', ''anticipates'', ''expects'', ''intends'', ''may'', ''will'' or ''should'' or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements reflect the Company's current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Company's business, results of operations, financial position, liquidity, prospects, growth or strategies. Forward-looking statements speak only as at the date at which they are made and the Company undertakes no obligation to update these forward-looking statements.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230503005256/en/
Contact information
Details for enquiries
Chris Sibbald
FGS Global
+44 (0)7855 955531
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Volue Welcomes TA Associates as New Strategic Investor13.2.2026 12:15:00 EET | Press release
Volue, a global leader in electrification and energy technology, today announced that TA Associates (“TA”), a leading global private equity firm, has joined as a new strategic investor alongside Advent International (“Advent”), Generation Investment Management (“Generation”) and Arendals Fossekompani. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260213436945/en/ Over the past 18 months, Volue has undergone a strategic transformation to sharpen its focus on the energy sector. During this period, Volue divested non-core activities and invested in targeted R&D innovation and strategic acquisitions to further position Volue as a leading provider of integrated technology solutions for power trading and generation, grid optimization, and energy market intelligence. Operating at the center of one of the most mission-critical markets of our time, Volue provides technology that enables utilities, grid operators, traders, and energy
ABB strengthens electrical engineering advisory capabilities in Europe with Premium Power acquisition13.2.2026 11:30:00 EET | Press release
ABB today announced it has entered into an agreement to acquire Premium Power, a leading electrical engineering consultancy headquartered near Dublin, Ireland. For more than two decades, Premium Power has established its reputation as a trusted advisor to large customers, particularly in data centers, pharmaceutical manufacturing and other mission-critical sectors where electrical resilience, uptime and regulatory compliance are essential. The transaction is expected to close in the first quarter of 2026. Financial terms were not disclosed. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260213161407/en/ Paula O'Neill, Managing Director, Premium Power (L) and Owen Flood, Local Division Manager, ABB Electrification Service (R) As demand for electrification accelerates and power systems become more complex due to digitalization, renewable integration and grid constraints, customers increasingly require specialist advisory suppo
EnergyAustralia, Enerven and NHOA Energy Mark Financial Close and Project Launch of the 245 MWh Hallett Battery in South Australia13.2.2026 09:00:00 EET | Press release
NHOA Energy, global provider of utility-scale energy storage systems, today marked together with EnergyAustralia and Enerven the official project launch of a 245 MWh Battery Energy Storage System (BESS) in Hallett, near the town of Canowie, in South Australia, following the achievement of financial close and the project’s transition into the delivery phase. The milestone was announced today during a project launch ceremony held at the Hallett Power Station, attended by representatives of EnergyAustralia, Enerven, NHOA Energy, government, Traditional Owners and local community stakeholders. Owned and developed by EnergyAustralia, the Hallett BESS is being built alongside the existing Hallett gas-fired power station and represents the first stage of a broader site development. As delivery partner for Stage 1 of the project, NHOA Energy will supply a Battery Energy Storage System delivering 245 MWh of guaranteed usable energy capacity (50 MW with five hours of storage) at Beginning of Lif
Echoworx Encryption Arrives on AWS Marketplace: Frictionless Security for a Global World13.2.2026 08:00:00 EET | Press release
Echoworx, the trusted name in email encryption, is now live on AWS Marketplace—fully deployed on AWS infrastructure. For global businesses, this means securing sensitive communications just got a whole lot easier, starting from purchase. Why AWS Marketplace? Why Now? Echoworx’s mission has always been to make secure communications as easy and accessible as possible. By joining the AWS Marketplace, Echoworx is taking this mission a step further, ensuring that customers can procure its encryption solution with the same ease and efficiency they experience when using it. Cross-border compliance, taxes, and billing headaches slow teams down. With AWS Marketplace, Echoworx customers bypass the usual red tape: automated tax and regulatory handling, simple multi-currency billing, and support for Private Offers. That translates to custom pricing and contracts in local currencies, less foreign exchange guesswork, and a procurement process built for modern enterprise. "Our partnership with AWS Ma
Align Partners Issues Formal Shareholder Proposals to Gabia13.2.2026 02:37:00 EET | Press release
Align Partners Capital Management Inc. (“Align Partners”), a shareholder of Gabia, Inc. (“Gabia” or the “Company”), has submitted formal shareholder proposals for inclusion in the agenda of Gabia’s upcoming 27th Annual General Meeting (“AGM”) and issued a call for strengthened governance practices to address the Company’s persistent undervaluation. Align Partners noted that, as shareholder proposals will be presented at this year’s AGM, Gabia should follow the Korea Exchange (KRX) Corporate Governance Key Indicators by publishing the AGM convocation notice at least four weeks prior to the meeting date. Align Partners emphasized that last year’s AGM notice was issued only 16 days before the meeting, limiting shareholders’ ability to adequately review the agenda and exercise informed voting rights. Gabia is widely recognized as a leading Korean IT services and cloud infrastructure company with solid operating performance. Despite these strengths, Align Partners believes the Company conti
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom