Derby Delisted as Pon Becomes Sole Shareholder
CLOPPENBURG, Germany – Pon Holding Germany GmbH (a 100 percent subsidiary of Dutch Pon Holdings) has taken over the final 5% of the issued shares of Derby Cycle AG on December 28. With that Pon became Derby’s sole shareholder and is Germany’s biggest bike maker about to be delisted from the Frankfurt Stock Exchange.
The take-over of the final 5% of the Derby shares took place following a resolution of a shareholders’ meeting on December 23. In this squeeze-out resolution it was agreed that the holders of the remaining Derby shares were paid € 31.56 per share.
Suspension of trading
According to a press release; “Derby Cycle AG intends to apply for revocation of the admission of the shares of Derby Cycle AG to the Frankfurt Stock Exchange”. The Frankfurt Stock Exchange will decide shortly on the suspension of trading.
All in all Derby Cycle AG’s stock market adventure was short, but very successful. The German bicycle producer celebrated its debut at the Frankfurt Stock Exchange in February 2011 with a € 12.50 rating. According to the monthly published Bike Europe’s Bike Industry Stock Chart, the Derby shares skyrocketed 125% in 2011. With that Derby scored the highest increased rating of all the 22 listed companies in this Stock Chart. In 2012 the Derby shares increased another 15.3% in value.
Gazelle, Cervélo, Union
Next to Derby Cycle Pon Holdings also owns the biggest bike brand in Holland; Gazelle as well as Canadian Cervélo. Recently Pon also bought the rights for the Dutch Union bicycle brand.
German Derby Cycle is producing bicycles under its Focus, Kalkhoff, Rixe and Univega brands which are marketed internationally.