Ad hoc announcement pursuant to art. 53 LR
May 31, 2023, Basel (Switzerland), – Youngtimers AG, a Swiss listed (SIX: YTME) holding company specialized in media and ecommerce services sectors, has entered into early stage discussions with JHD Technologies Limited (JHD Technologies) about a potential combination with JHD Technologies by way of investment in and contribution of JHD Technologies (or its underlying subsidiary) into Youngtimers AG in exchange for existing and new listed shares of Youngtimers AG (the "Potential Transaction"). Given the relative sizes of YTME and JHD Technologies the Potential Transaction would result in a significant change of control over Youngtimers AG, whose shares would be expected to remain listed on SIX Swiss Exchange.
JHD Technologies (https://www.jhdtechnologies.com/en) is an innovative merchant enablement company which owns and operates a payment and distribution services platform that helps independent stores and financial institutions to reach more customers in lower-tier cities and rural areas of People’s Republic of China. Core principles of the Potential Transaction have been reviewed by Youngtimers AG within the framework of its recently announced focus on assisting high growth Chinese companies with access to the international capital markets through Swiss financial infrastructure (https://ir.youngtimers.com/wpcontent/uploads/2023/03/YTME_Corporate_News_20230331.pdf).
Preliminary and high-level terms of a Potential Transaction have been memorialized in a nonbinding term sheet. Any definite terms and conditions of the Potential Transaction, as well as its timing remain subject to further negotiations, the entry into binding agreements and corporate approvals by each of JHD Technologies and Youngtimers AG as well as regulatory approvals and other conditions.
Investors are cautioned that discussions about the Potential Transaction are still at an early stage.
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About Youngtimers AG
Youngtimers AG is a Swiss-listed investment Company focused on the European media, ecommerce and lifestyle goods sectors. Youngtimers AG is listed in Switzerland (symbol YTME on SIX Swiss Exchange) and headquartered in Basel, for more information please refer to ir.youngtimers.com.
Contact
Youngtimers AG
Investor Relations
Elisabethenstrasse 18
Email: ir@youngtimers.com 4051 Basel
Web: ir.youngtimers.com
