u-blox welcomes Spectrum Entrepreneurial Ownership as Anchor Shareholder

Rhea-AI Summary

u-blox (SIX:UBXN) welcomes Spectrum Entrepreneurial Ownership (SEO) as a long-term anchor shareholder, making SEO the company's largest shareholder. The acquisition of treasury shares held by u-blox led to SEO crossing the 5% reporting threshold. The company plans to propose a representative of SEO for an additional seat in the Board of Directors at the 2024 Annual General Meeting.

Positive

• SEO's long-term commitment as an anchor shareholder signifies stability for u-blox's development and growth potential.
• The exchange with the professional SEO team indicates a positive collaboration and potential strategic benefits for u-blox.

Negative

• None.

THALWIL, SWITZERLAND / ACCESSWIRE / November 15, 2023 / u-blox (SIX:UBXN), a global leader in wireless and positioning technologies, through its Board of Directors and Executive Committee welcomes Spectrum Entrepreneurial Ownership (SEO) as long-term anchor shareholder. SEO started building their stake some time ago and yesterday crossed the 5% reporting threshold. This was also due to the acquisition of treasury shares held by u-blox. As a result, SEO is now the company's largest shareholder.

André Müller, Chairman of the Board of Directors of u-blox, commented: "A long-term committed, anchor shareholder is important for the stable development of u-blox. In addition, we appreciate the exchange with the professional SEO team."

Fabian Rauch, Co-Founder and Managing Partner of Spectrum Entrepreneurial Ownership, added: "u-blox is an excellently positioned company with a lot of potential for development and value creation. We have great confidence in the management team and look forward to accompanying the company on its journey in the coming years."

u-blox envisages to propose for election a representative of SEO for an additional seat in the Board of Directors at the 2024 Annual General Meeting.

About u-blox

u-blox (SIX:UBXN) is a global technology leader in positioning and wireless communication in automotive, industrial, and consumer markets. With headquarters in Thalwil, Switzerland, the company is globally present with offices in Europe, Asia, and the USA. (www.u-blox.com)

u-blox media contact:

Natacha Seitz
Senior Manager PR and Content Marketing
Mobile +41 76 436 0788
natacha.seitz@u-blox.com

SOURCE: u-blox AG

View source version on accesswire.com:
https://www.accesswire.com/803595/u-blox-welcomes-spectrum-entrepreneurial-ownership-as-anchor-shareholder

FAQ

What is the significance of SEO becoming u-blox's largest shareholder?

SEO's position as the largest shareholder signifies a long-term commitment to u-blox, providing stability and potential for the company's development and value creation.

What is the plan for SEO's representation in u-blox's Board of Directors?

u-blox intends to propose a representative of SEO for an additional seat in the Board of Directors at the 2024 Annual General Meeting, indicating a potential influence of SEO in the company's strategic decisions.

How does u-blox view the collaboration with SEO?

The Chairman of the Board of Directors of u-blox expressed appreciation for the exchange with the professional SEO team, highlighting a positive outlook on the collaboration.

What are the expectations for u-blox's future with SEO as a major shareholder?

The Co-Founder and Managing Partner of Spectrum Entrepreneurial Ownership expressed confidence in u-blox's management team and the company's potential for development and value creation, indicating positive expectations for the future.

What led to SEO becoming u-blox's largest shareholder?

SEO's stake in u-blox increased due to the acquisition of treasury shares held by the company, leading to SEO crossing the 5% reporting threshold and becoming the largest shareholder.