Fastned founders have completed the planned sale of a small portion of their holdings
Amsterdam, 23 May 2023. Fastned, the European fast charging company, announces that its founders Michiel Langezaal and Bart Lubbers have completed the planned sale of a small portion of their holdings in Fastned.
Fastned announced on 11 January 2023 that Michiel Langezaal and Bart Lubbers would in the course of 2023 each gradually sell up to approximately 2% of the outstanding depositary receipts of ordinary shares in the capital of Fastned (DR’s) at that moment.
The reason for Michiel Langezaal and Bart Lubbers to sell a portion of their holdings was to diversify their portfolios, satisfy tax obligations and repay family loans that were provided to establish Fastned in 2012.
600.000 DR’s were sold to several institutional investors in a private sale and 99,878 DR’s were sold through a pre-arranged trading plan that started after the announcement in January 2023. This trading plan has now been finalised.
Both Bart, who is the Chairman of Fastned’s Supervisory Board and Michiel, CEO of Fastned, remain committed to Fastned and its mission to accelerate the transition to electric mobility. Together they will continue to hold a majority of the DR’s. Michiel Langezaal and Bart Lubbers have committed to a 12 months lock-up on the remaining DR’s following the transaction.
Breesaap B.V., the investment company of the Lubbers family, did not participate in the private sale in order to maintain a substantial interest in Fastned in light of Dutch tax regulation. Breesaap also expressed their long term commitment by agreeing to the same lock-up of 12 months.
After completion of the sale, the parties will hold the following interests in Fastned:
- Wilhelmina-Dok B.V. (the personal holding company of Bart Lubbers): 37.42% of the DR’s (39.16% per 11 January 2023)
- Carraig Aonair B.V. (the personal holding company of Michiel Langezaal): 21.76% of the DR’s (23.50% per 11 January 2023)
- Breesaap B.V. (the investment company of the Lubbers family): 5.94% of the DR’s (6.11% per 11 January 2023).
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Fastned has been developing fast charging infrastructure for electric vehicles across Europe since 2012. Fastned’s mission is to accelerate the transition to sustainable mobility by giving freedom to electric drivers. Based in Amsterdam, the company has built more than 255 fast charging stations in the Netherlands, Germany, United Kingdom, Belgium, France and Switzerland. The company specialises in developing and operating fast charging infrastructure where drivers can charge their electric vehicle with up to 300 km of range in 15 minutes before continuing their journey. Fastned is listed on Euronext Amsterdam (ticker AMS: FAST).