Information regarding the exit process of Zound Industries International AB
As communicated on 26th of February 2019, the Board of Directors of Zound Industries International AB (the "Company") has initiated an exit process of Zound Industries. The exit process is supported by shareholders jointly holding a majority of the shares including Zenith Venture Capital, Varenne, Telia Company and TIME Investors SAS (the "Principal Owners").
On 18th of April 2019 it was communicated that the Principal Owners had obtained support for the process from shareholders which, together with Marshall Amplification, held in excess of 90 percent of the shares in Zound Industries.
In order to maximise the shareholder value for all shareholders of the Company, the Principal Owners have decided to prolong the process until the 30th of June 2020.
Therefore, the Principal Owners intend to ask the shareholders to prolong the existing power of attorneys until the 30th of June 2020. Further information and relevant instructions regarding the extension of the power of attorneys will be communicated no later than by the end of November 2019. Shareholders do not need to take any action at this time pending further instructions.
Further information
For additional information about the process, please see: https://investors.zoundindustries.com/en/shareholder-information
or contact:
Patrik Linzenbold, Head of Investor Relations
patrik.linzenbold@zoundindustries.com
+46 708 25 26 30
About Zound Industries International AB
Zound Industries designs and develops speakers and headphones under the brand names adidas, Marshall and Urbanears. With a strong focus on innovative technology and user-centered design, Zound has gone from strength to strength since first hitting the market in 2008, launching a wide range of iconic, award-winning products. Zound currently has around 220 employees, with offices in Stockholm, New York, Paris, Shenzhen and Hong Kong. In 2018 turnover reached about SEK 1.86 billion.