CEVA Logistics AG: CEVA expects conversion of CMA CGM's securities within next 4 weeks

CEVA Logistics AG / Key word(s): Miscellaneous
CEVA expects conversion of CMA CGM's securities within next 4 weeks

17.07.2018 / 07:00

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CEVA expects conversion of CMA CGM's securities within next 4 weeks

Baar, Switzerland, 17 July, 2018 - CEVA Logistics AG ("CEVA"), one of the
leading asset-light third-party logistics providers, announces that CMA CGM
S.A. ("CMA CGM") is expected to convert the CHF 378,945,215 of CEVA
mandatory convertible securities it holds into registered ordinary shares to
become a 24.99% shareholder in CEVA latest on 13 August 2018.

Whilst CMA CGM has obtained all required regulatory approvals last week,
CEVA and CMA CGM have agreed to postpone the conversion to give CMA CGM more
time to work through certain technical legal aspects. These are due to the
fact that CEVA's non-executive board member, Rodolphe Saadé, had, in late
June and early July 2018, when he was still a non-voting board member,
purchased a total of 27,500 CEVA shares which will now need to be aggregated
with CMA CGM's holdings as Mr. Saadé has become, in the meantime, a joint
control holder of CMA CGM. As a result of such aggregation, their combined
ownership in CEVA technically surpasses the 33.33% mandatory takeover
threshold before the shares issued upon conversion are formally registered
in the Commercial Register. A ruling sought from the Swiss Takeover Panel
will confirm the non-applicability of the takeover rule under the
circumstances. Following conversion and registration of the newly created
shares, CMA CGM's and Rodolphe Saadé's combined shareholdings will amount to
approximately 25.04% of the company's registered capital.

As part of its investment, CMA CGM has entered into a lock-up agreement for
one year following the CEVA IPO and has agreed not to increase its
shareholding in CEVA for six months post IPO. The latter provision did not
apply to Mr. Saadé at the time of his purchase. He will, however, going
forward, adhere to the standstill undertaking.

CEVA and CMA CGM, the third largest container shipping group in the world,
will work together to expand their commercial cooperation and to develop
complementary services, which address the increasing customer need for
integrated end-to-end solutions. Both companies believe that the arms-length
partnership could create significant value to customers and would be
mutually beneficial to both companies.

For additional information please contact:

Investors:
Pierre Benaich
SVP Investor Relations
[e-mail]
[phone]

Media:
David Urbach
SVP Corporate Development
[e-mail]
[phone]

Cathy Howe
Pilot Marketing
[e-mail]
Tel: [phone]

CEVA - Making business flow
CEVA Logistics, a global asset-light third-party logistics company, designs
and operates industry leading supply-chain solutions for large and
medium-size national and multinational companies. Its integrated network in
Freight Management and Contract Logistics spans more than 160 countries.
Approximately 56,000 employees are dedicated to delivering effective
solutions across a variety of industry sectors where CEVA applies its
operational expertise to provide best-in-class services. CEVA generated
revenue of $7 billion and adjusted EBITDA of $280 million in 2017. CEVA
Logistics is listed on SIX Swiss Exchange under ticker symbol CEVA. For more
information, please visit www.cevalogistics.com.