Amsterdam, 30 December 2022 - Today, Azerion has announced that its largest shareholder, Principion Holding BV, has signed a put option agreement with LDA Capital Limited for the sale of up to 10 million ordinary shares in Azerion, with the primary purpose of supporting liquidity of Azerion's shares and directing part of the proceeds to fund growth in Azerion.
Azerion CEO, Atilla Aytekin, commented: "I am pleased to welcome another institutional investor into Azerion's shareholder base. On the back of our Strategy Deep Dive in November 2022, we continued engaging with the market and have seen a growing interest from investors in our investment case. For 2023, we envisage to grow our exposure to institutional investors and the liquidity of our stock."
The put option agreement grants Principion Holding BV the option to sell Azerion ordinary shares to LDA Capital Limited in tranches that can, in aggregate, add up to 10 million shares or €50 million over 3 years. The volume and price of each tranche will be the result of a formula that takes into account Azerion shares trading volumes and price. Principion Holding BV is one of the investment vehicles of Azerion's founders and holds over 48 million ordinary shares in Azerion.
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