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DGB Group N.V. (“DGB”, “the Group” or “the Company”) (Euronext: DGB: NL000916951), a leading carbon project developer and ecosystem restoration company, plans to migrate its listing from Euronext Amsterdam to a Euronext Growth Market.
Due to the unavailability of a suitable Public Interest Entity audit firm in the Netherlands (“PIE audit firm”), DGB could not comply with Euronext Amsterdam's Rule 61003/2, which requires audited annual reports. On 13 April 2021, Euronext Amsterdam implemented a new rule, essentially meaning that companies without a PIE audit firm face delisting. On 13 April 2023, DGB received a letter from Euronext officially stating that the Company is not compliant. If non-compliance continues after 27 April 2023, Euronext will ask the Euronext Listing Board to begin the delisting process.
To address these issues, the Board of Directors presents a restructuring plan that includes migration to a Euronext Growth Market. DGB has already finalized the first steps of the restructuring plan and informed shareholders about this on 27 March 2023 (link to press release).
On 26 May 2023, DGB will present its plan and the next steps to shareholders at the Extraordinary General Meeting of Shareholders (EGM). The presentation and EGM materials are available on DGB's website, www.green.earth.
DGB will keep its shareholders informed and provide updates on any significant developments regarding this matter as they occur.
DGB GROUP NV
DGB is a project developer of high-quality, large-scale carbon and biodiversity projects accredited by third parties. The Group is focused on nature conservation and helping biodiversity flourish by assisting governments and corporations in achieving net zero. Global megatrends drive the demand for carbon credits and underpin growth opportunities. DGB GROUP NV is a public company traded on the main Dutch stock exchange Euronext Amsterdam under the ticker symbol AEX:DGB and ISIN-code NL0009169515. www.green.earth
This press release does not contain an (invitation to make an) offer to buy or sell or otherwise acquire or subscribe to shares in DGB and is not an advice or recommendation to take or refrain from taking any action. This press release contains statements that could be construed as forward-looking statements, including about the financial position of DGB, the results it achieved and the business(es) it runs. Forward-looking statements are all statements that do not relate to historical facts. These statements are based on information currently available and forecasts and estimates made by DGB’s management. Although DGB believes that these statements are based on reasonable assumptions, it cannot guarantee that the ultimate results will not differ materially from those statements that could be construed as forward-looking statements. Factors that may lead to or contribute to differences in current expectations include, but are not limited to: developments in legislation, technology, tax, regulation, stock market price fluctuations, legal proceedings, regulatory investigations, competitive relationships and general economic conditions. These and other factors, risks and uncertainties that may affect any forward-looking statement or the actual results of DGB are discussed in the annual report. The forward-looking statements in this document speak only as of the date of this document. Subject to any legal obligation, DGB assumes no obligation or responsibility to update the forward-looking statements contained in this document, whether related to new information, future events or otherwise.
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