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BenevolentAI BAI LU2355630455

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marcello106 25 januari 2025 12:53

quote:
DeZwarteRidder schreef op 25 januari 2025 12:36:
[...]

De waarde is wat de gek er voor geeft.

Of wat de groot aandeelhouders willen ontvangen om het van de beurs te kunnen halen……
Aanzienlijk meer dan de huidige koers veronderstel ik…..

twinkletown 25 januari 2025 13:04

quote:
psps schreef op 25 januari 2025 12:33:
Weet iemand wat de waarde is van dit aandeel BenevolentAI? Er kan toch een bod komen? Koers loopt op sedert deze week!

Er zou een (verrassend) bod kunnen komen maar van wie? Een pharmaceut?

twinkletown 25 januari 2025 17:29

quote:
twinkletown schreef op 25 januari 2025 13:04:
[...]
Er zou een (verrassend) bod kunnen komen maar van wie? Een pharmaceut?

Merck of AstraZeneca?
Of.. Spinco? (Galapagos~II)
markets.businessinsider.com/stocks/ia...

Leeser1959 3 februari 2025 12:52

koers lijkt te stabiliseren rond de 0,30

Brugge4ever 3 februari 2025 16:50

BenevolentAI bijna klaar voor een mooi herstel, laatste week veel kopers waardoor er nu bijna geen weerstand meer is.

Andries72€ 5 februari 2025 20:44

Echt omhoog nog niet gevonden

SRD 6 februari 2025 07:54

Fusie van bai en delisting. Details volgen. Beleggers waarschijnlijk een oor aangenaaid, zoals ik eerder heb verondersteld.

Diede 6 februari 2025 09:35

quote:
SRD schreef op 6 februari 2025 07:54:
Fusie van bai en delisting. Details volgen. Beleggers waarschijnlijk een oor aangenaaid, zoals ik eerder heb verondersteld.

Dus ze vullen in 2022 een SPAC?
Ze verbranden alle cash.

En 2,5 jaar later en 97% lager zeggen ze:
"zo'n listing is maar niks, we gaan privaat verder."

Als ik aandeelhouder was geweest van deze SPAC zou ik overwegen wat mensen her en der aan te klagen.

SRD 6 februari 2025 09:36

quote:
Diede schreef op 6 februari 2025 09:35:
[...]
Dus ze vullen in 2022 een SPAC?
Ze verbranden alle cash.

En 2,5 jaar later en 97% lager zeggen ze:
"zo'n listing is maar niks, we gaan privaat verder."

Als ik aandeelhouder was geweest van deze SPAC zou ik overwegen wat mensen her en der aan te klagen.

Ik heb de VEB geinformeerd, maar die zijn vooralsnog volkomen passief!

Diede 6 februari 2025 09:37

quote:
Diede schreef op 6 februari 2025 09:35:
Als ik aandeelhouder was geweest van deze SPAC zou ik overwegen wat mensen her en der aan te klagen.

Aan de andere kant.
Bij elke SPAC kan je natuurlijk gewoon uitstappen als het nieuwe bedrijf wordt ingebracht.

Laten we zeggen dat het "bijzonder" is allemaal...

SRD 6 februari 2025 09:40

quote:
Diede schreef op 6 februari 2025 09:37:
[...]
Aan de andere kant.
Bij elke SPAC kan je natuurlijk gewoon uitstappen als het nieuwe bedrijf wordt ingebracht.

Laten we zeggen dat het "bijzonder" is allemaal...

Er komt nog een speciale bijeenkomst. Het nieuwe bedrijf is niet genoteerd.

Janteam 6 februari 2025 09:44

www.benevolent.com/news-and-media/pre...

DeZwarteRidder 6 februari 2025 10:14

Proposed Delisting via Merger of BenevolentAI into Osaka Holdings S.à r.l. and Publication of Notice of Extraordinary General Meeting

Home News and media Press releases and in the media Proposed Delisting via Merger of BenevolentAI into Osaka Holdings S.à r.l. and Publication of Notice of Extraordinary General Meeting

06 Feb 2025

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London, UK, 6 February 2025: BenevolentAI, (“BenevolentAI” or “the Company”) (Euronext Amsterdam: BAI), a pioneer in AI-driven drug discovery, today announces:

Subject to shareholder approval, the proposed delisting of BenevolentAI from Euronext Amsterdam N.V. (the “Delisting”) via a merger of the Company into Osaka Holdings S.à r.l. (“Osaka Holdings”), (the “Merger”), which will transition the Company to a private company structure.
Simplification of the Company’s share structure and related instruments that reduces the current complexity and administrative overheads.
The convening notice for the Extraordinary General Meeting (the “EGM”), the proxy form and the documents related to the items on the EGM agenda, including the Merger Proposal (as defined and set out below), will be published on or around 10 February 2025.

Background and Reasons for Delisting

Following the announcement on 11 December 2024 and subsequent further detailed review and evaluation, the Board of BenevolentAI has concluded that delisting from Euronext Amsterdam N.V. (“Euronext”) and transitioning to a private company is in the best interests of the Company and its shareholders. The Board determined that the financial and administrative costs of maintaining a public listing are not justified by the benefits. By eliminating the significant costs associated with its public status, including legal, regulatory, financial, and administrative overheads, the Company can redeploy this capital towards core business activities that drive innovation and product development. This aims
to deliver greater value to its shareholders, partners and ultimately benefit the patients it serves.

The proposed Delisting and Merger of BenevolentAI into Osaka Holdings requires passing EGM Resolutions (as defined and set out below). It is important for shareholders to understand that should any of the Resolutions fail to pass, the Delisting and Merger will not proceed. An indicative timetable of the Delisting and the Merger can be found in Appendix I below.

Delisting Implementation

Delisting will be implemented via a merger of BenevolentAI into Osaka Holdings. Osaka Holdings is currently a private limited liability company (société à responsabilité limitée) incorporated under the laws of the Grand Duchy of Luxembourg with its registered office at 9, rue de Bitbourg, L-1273 Luxembourg. It is not listed on any exchange and has no assets and no liabilities other than its share capital which will be reduced to zero on Merger. Upon the Merger, scheduled for completion on 12 March 2025, all the Company’s assets, liabilities, rights and obligations will transfers to Osaka Holdings under universal title of succession. This transition will occur in accordance with the Merger proposal that will be published on 10 February 2025 and available on the Company’s website, www.benevolent.com/investors/general-... (the “Merger Proposal”). Additionally, the articles of association of Osaka Holdings post-Merger will be streamlined for a private company and will be set out in Schedule 1 of the Merger Proposal.

Under the terms of the proposed Merger, Osaka Holdings will issue shares and warrants equivalent to the number currently issued by BenevolentAI, after accounting for the conversion of Class B shares to Class A shares, the cancellation of treasury shares, and the treatment of warrants, as set out below. Specifically, for every share or warrant held in BenevolentAI at the time of the Merger, a shareholder or warrant holder will receive one corresponding share or warrant in Osaka Holdings, according to a one-to-one exchange ratio, which is designed to reflect the ownership proportions in Osaka Holdings that existed in BenevolentAI prior to the Merger, helping to ensure a smooth transition for all stakeholders.
If the Resolutions are passed at the EGM, the Merger will become effective once both BenevolentAI and Osaka Holdings have adopted the concurring approval decisions during their respective general meetings on the same day. Consequently, it is envisaged that the Delisting will become effective on 13 March 2025. Upon Delisting, the last day of trading in the class A shares and class A warrants will be 12 March 2025.

DeZwarteRidder 6 februari 2025 10:14

Following completion, the newly merged entity will be renamed BenevolentAI.

Conversion of Class B Shares into Class A Shares

BenevolentAI currently has two classes of shares in issue: class A redeemable shares (“Class A shares”) and convertible class B shares (“Class B shares”). The Class B shares were introduced as part of the historic deSPAC process, representing a strategic financing choice at the time. Both classes possess identical rights, including voting privileges and entitlement to dividends. The primary difference is their market presence; Class A shares are publicly traded on Euronext, whereas Class B shares are not publicly traded.

As BenevolentAI transitions to a private entity, the distinction between publicly traded and non-publicly traded shares becomes irrelevant since the Company will no longer be listed on any market. In line with this change, shareholders are asked to vote on a resolution to convert Class B shares into Class A shares as part of the Merger process. This move is proposed to streamline the share structure, ensuring simplicity and uniformity across all shares. Simplifying the share classification is part of the Company’s broader efforts to improve administrative efficiency as a private company.

Cancellation of Treasury Shares

In connection with the Merger, there is a resolution to cancel BenevolentAI’s existing treasury shares, which were originally issued and subsequently redeemed by the Company as part of the 2022 deSPAC process. These shares neither confer voting nor dividend rights, nor do they actively contribute to shareholder value. Their presence complicates the capital structure and generates unnecessary administrative overhead. Cancelling these shares as part of the Merger process is therefore aimed at simplifying BenevolentAI’s equity structure as the Company transitions to a private structure.

Treatment of warrants

The Company had previously issued a total of 16,600,000 warrants, comprised of 10,000,000 Class A warrants traded on Euronext Amsterdam and 6,600,000 Class B warrants, not listed on any exchange. Collectively, the Class A and Class B warrants are referred to as the “BenevolentAI Warrants”.

As part of the Merger process, Osaka Holdings will issue an equivalent number of warrants (the “Osaka Holdings Warrants”) to all current holders of BenevolentAI Warrants on 12 March 2025. This issuance ensures that each holder of BenevolentAI Warrants will receive one Osaka Holdings Warrant for each warrant they currently hold, facilitating a direct and proportionate transition of rights as part of the Merger process. ABN AMRO will continue to serve as the warrant agent for Osaka Holdings post-Merger.

The Osaka Holdings Warrants will be governed by the same warrant terms & conditions as originally established for the BenevolentAI Warrants (the “Warrant T&Cs), details of which are published on the Company’s website: www.benevolent.com/investors/. As per the Warrant T&Cs, warrant holders will be entitled to purchase one share in Osaka Holdings for an exercise price of €11.50.

Consistent with the original Warrant T&Cs, the exercise price will be adjusted for a 30-day period starting on the Merger Date, 12 March 2025, using a predefined formula. Detailed information about the adjusted exercise price and instructions for exercising the Osaka Holdings Warrants during this period will be included in the press release scheduled for 12 March 2025, which will announce the results of the EGM and the completion of the Merger.

Board Recommendation

The Board considers the Delisting to be in the best interests of the Company and its shareholders and, accordingly, unanimously recommends shareholders to vote in favour of the Resolutions being proposed at the EGM. Directors who hold shares have committed to do so in respect of their beneficial holdings, in aggregate, including the Executive Chairman, who is the largest shareholder.

Kenneth Mulvany, Executive Chairman of BenevolentAI, commented:

"After careful review and, in particular, consideration of the costs attributable to the Company maintaining its listing on Euronext, the Board has unanimously concluded that the proposed Delisting is in the best interests of BenevolentAI and its shareholders. The Board is firmly of the view that the Company must prioritise investment that accelerates its innovation cycle and enhances product development. The proposed Delisting is a crucial component of the Company’s capital allocation and fiscal efficiency.”

Extraordinary General Meeting

The EGM will be held on 12 March 2025 at 10 a.m. CET at 2, place Winston Churchill, L-1340 Luxembourg. At the EGM, shareholders shall vote on the following agenda items, which are together referred to as the “Resolutions”:

subject to the approval of the Merger, the conversion of all the 2,500,000 Class B shares without nominal value of the Company into 2,500,000 Class A shares so that the share capital of the Company is represented by only by Class A shares;
subject to the approval of the Merger, the reduction of the Company’s current issued share capital by cancelling all 20,686,419 Class A shares currently held in the Company’s treasury;
acknowledgement of the reports of the board of directors of the Company and the board of managers of Osaka Holdings, setting out the legal and economic grounds for the Merger and explaining the share exchange ratio and the warrants exchange ratio, and of the independent experts of the merging companies confirming that the share exchange ratio is fair and reasonable, and;
acknowledgment and approval of the Merger Proposal and decision to realise the merger of the Company, as absorbed company, and Osaka Holdings, as absorbing company, by way of merger by absorption.

To be passed, the Resolutions require the approval of at least two-thirds of the votes validly cast in favour by the shareholders present or represented provided that a quorum of 50% of the Company’s issued share capital is present or represented at the EGM.

Publication of Notice of Extraordinary General Meeting and related documents

The convening notice for the EGM, the proxy form and the documents related to the items on the EGM agenda (including the Merger Proposal) will be on display for inspection by the shareholders on the Company’s website www.benevolent.com/investors/ and at the registered office of the Company from or around 10 February 2025. Upon request to ABN AMRO (ava@nl.abnamro.com) or to the Company (investors@benevolent.ai), copies of the above- mentioned documents will be e-mailed to the shareholders.

The shareholders entitled to participate and vote at the EGM will be those who are shareholders on the record date of 26 February 2025 at 24:00 (midnight) CET.

The information in this press release should be read in conjunction with the full text of the Appendix to this press release and the full Merger Proposal to be published on Monday, 10 February 2025 on www.benevolent.com/investors/. The Merger will be subject to the conditions and other terms set out in this Announcement and the Merger Proposal

twinkletown 6 februari 2025 10:26

Ter herinnering; bericht van 22 augustus 2024:
Deutsche Bank start volgen BenevolentAI met koopadvies

Deutsche Bank is gestart met het volgen van het in Amsterdam genoteerde BenevolentAI met een koopadvies en een koersdoel van 2,70 euro. Dit bleek uit een rapport van de Duitse bank.

Volgens analist Paul Cuddon is het bedrijf één van de weinige biotechbedrijven die big data combineert met AI om wetenschappelijke publicaties en patiëntdata door te spitten om een beter beeld te krijgen bij de verschillende ziektes in de wereld.

BenevolentAI kan onder meer nieuwe targets voor farmapartners vinden en therapeutische middelen efficiënter beoordelen in de fase tussen ontdekking en goedkeuring van een medicijn, aldus Deutsche Bank.

Brugge4ever 6 februari 2025 11:48

Normaal zou er bij een beursexit een uitkoopbod volgen. Volgens mij is het nu vooral onrust zaaien, nog wat aandelen laag inkopen door de grote aandeelhouders en dan goedkoop de beurs verlaten maar ik verwacht nog steeds een uitkoopbod en zo niet dan is het nodig dat de kleine aandeelhouders zich verenigen.

Brugge4ever 6 februari 2025 13:05

Niet dat ik van de AFM iets verwacht maar daar heb ik een klacht neergelegd m.b.t. het bedrijf, de communicatie over een delisting en het uitblijven van details over een compensatie voor de resterende aandeelhouders (bijvoorbeeld een uitrookbod).

DeZwarteRidder 6 februari 2025 15:31

quote:
Brugge4ever schreef op 6 februari 2025 13:05:
Niet dat ik van de AFM iets verwacht maar daar heb ik een klacht neergelegd m.b.t. het bedrijf, de communicatie over een delisting en het uitblijven van details over een compensatie voor de resterende aandeelhouders (bijvoorbeeld een uitrookbod).

Ik vermoed dat de fusie een verplichte fusie wordt en dat er dus geen sprake is van resterende aandeelhouders.

De enigen die geld verdiend hebben met dit waardeloze shitfonds zijn de advocaten en juristen.

Brugge4ever 6 februari 2025 16:59

Die kans is aanwezig maar dan kan elk bedrijf van de beurs met een middelvinger naar de aandeelhouders. ASML en TSMC fuseren en gaan van de beurs, zou wat zijn als het zo kan/mag gaan. Verplicht vanwege geld zou ook geen rechtvaardiging mogen zijn.

Brugge4ever 6 februari 2025 17:02

Trouwens opmerkelijk dat nu maar ook eerder vandaag al een paar keer orders in de bied kwamen van 50K tot ruim 80K. Ze werden ook telkens gevuld maar ik kan mij niet indenken dat een particulier 80K hierin steekt.

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