Attached as Exhibit 99.1 hereto is a copy of the Companys press release announcing the EGM results.
Merger Deed
Following shareholder approval, the
Merger was consummated on December 31, 2020 pursuant to a merger deed (the Merger Deed). In connection with the Merger, Materialise acquired 13,428,688 existing ordinary shares of Materialise held by Ailanthus, which shares
Materialise annulled immediately following the Merger, and Materialise issued to Wilfried Vancraen and Hilde Ingelaere, in their capacity as shareholders of Ailanthus (the Ailanthus shareholders), 13,428,688 new ordinary shares of
Materialise (the New Shares).
Indemnification Agreement
In connection with and prior to the Merger, Materialise entered into an indemnification agreement (the Indemnification Agreement) with Ailanthus
and with Wilfried Vancraen, Hilde Ingelaere and Lunebeke NV, a company owned by Wilfried Vancraen and Hilde Ingelaere (collectively, the indemnifying parties). Pursuant to the Indemnification Agreement, among other things,
the indemnifying parties agreed to reimburse Materialise for: (i) costs incurred by Materialise in connection with the Merger, (ii) possible liabilities of Materialise as a result of the Merger, and (ii) possible negative tax
consequences, if any, for certain of Materialises shareholders. The obligation to reimburse Materialise shareholders applies to shareholders who were shareholders prior to April 30, 2021 (qualifying shareholders).
The term of the Indemnification Agreement expires on December 31, 2030. However, Materialise and any qualifying shareholders have the right to make
claims against the indemnifying parties for a period of 10 years following the occurrence giving rise to the claim.
Letter Agreement
In addition, in connection with the Merger, the Company entered into a letter agreement (the Letter Agreement), dated December 31, 2020, with
the Ailanthus shareholders pursuant to which, among other things, the Company granted certain demand and piggyback registration rights to the Ailanthus shareholders in respect of the New Shares.
The foregoing descriptions of the Merger Deed, the Indemnification Agreement and the Letter Agreement are not complete and are qualified in their entirety by
the Merger Deed, the Indemnification Agreement and the Letter Agreement, which are attached hereto as Exhibits 2.1, 10.1 and 10.2, respectively, and are incorporated herein by reference.
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Exhibit
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Description
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2.1
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Merger Deed (unofficial English translation)
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10.1
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Indemnification Agreement, among the Company, Ailanthus and with Wilfried Vancraen, Hilde Ingelaere and Lunebeke NV, a company owned by Wilfried Vancraen and Hilde Ingelaere (unofficial English
translation)
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10.2
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Letter Agreement Regarding Share Issuance and Registration Rights, dated December 31, 2020, among the Company, Wilfried Vancraen and Hilde Ingelaere
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99.1
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Press Release dated January 4, 2020
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