ABO-Group - Press release
December 19 2017 - 2:14AM
ABO-Group - Press
release
Ghent, December 19th, 2017 - 8 am
- Press release / Regulated information / Inside information
The suspicion of lack of
independence bearing upon the certified soil remediation company
ABO, as reported in the press release of March 31st 2015,
and in the annual report for the 2014 financial year of ABO-Group
(p.18), is hereby terminated. ABO-Group Environment NV was informed
of the concluded agreement on December 18th, 2017, held
between Participatiemaatschappij Vlaanderen NV (PMV) and Ideplus NV
(ID +), a company controlled by Mr. Frank De Palmenaer, CEO of
ABO-Group Environment NV. PMV sold 383.890 of ABO-Group
Environment's NV shares to ID + at a price of EUR 2.63 per share on
December 18th after the stock exchange closed. Following the
transaction, PMV will no longer hold any shares in ABO-Group
Environment NV.
Upon completion of this
transaction, ABO will no longer, directly or indirectly, be
financed by the Flemish government or one of its subsidiaries.
According to the Flemish legislation, a soil expert must be
independent of his clients (Vlarel art. 53). A suspicion resided
whether or not ABO was in fact independent from the Flemish
government due the historical shareholding of PMV. Although the
participation was below the 5% statutory notification threshold,
the company had to request a derogation for each project executed
from the competent minister, who later determined that ABO did
carry out the assignments independently. The procedure, which
required an important effort on behalf of the company and entailed
inspection costs, is thus cancelled, enabling ABO to again carry
out its soil investigations more efficiently in Flanders.
About
ABO-Group
ABO-Group is a consulting and
engineering firm specialising in the construction, environment and
energy sectors. ABO-Group guarantees its clients in Belgium, the
Netherlands, France and internationally a sustainable approach to
consulting.
A detailed description of the
Group's activities can be found on ABO-Group's website
(www.abo-group.eu).
For more
information, please contact:
ABO-Group Environment NV
investors@abo-group.eu
T +32 9 242 88 88
Maaltecenter Blok G, Derbystraat 255,
B-9051 Gent (SDW), Belgium
This press release is available on
the following website www.abo-group.eu.
20171219 Persbericht ABO-Group
Environment EN
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: ABO-Group via Globenewswire
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