Pepco Group N.V. (the “Company”) announces that on 21 October 2026 it received a notification from IBEX Retail Investments (Europe) Limited (together with its related entities, “IBEX”), the Company’s majority shareholder, of a change in its holding of shares and voting rights in the Company, following the pricing of the secondary placement announced by IBEX on 20 October 2026 (the “Placement”).
IBEX has informed the Company that it has sold approximately 32.3 million ordinary shares in the Company, each with a nominal value of €0.01 (the “Placement Shares”), at a price of PLN 44.00 per Placement Share. The Placement Shares represent approximately 6.3% of the Company’s shares outstanding, equivalent to approximately 9.6% of IBEX’s shareholding prior to the Placement. The Placement was conducted by way of an accelerated bookbuilding process to institutional investors. Settlement of the Placement is expected to take place on a T+2 basis on 23 October 2026.
IBEX has stated that the Placement was undertaken to incrementally expand and improve the trading liquidity of the Company’s shares.
IBEX’s holding in the Company before and following the Placement is set out below:
| Before the Placement | Following the Placement | |
| Number of shares and voting rights held | c.337 million | 304.7 million |
| % of shares outstanding (voting rights) | 66.1% | 59.8% |
| % of total issued share capital | 58.3% | 52.8% |
IBEX remains the Company’s majority shareholder. The ordinary shares in the Company retained by IBEX following the Placement will be subject to a 90-day lock-up period, subject to customary exemptions.
The Company was not a party to the Placement and did not receive any proceeds from it.
Shareholding percentages are calculated by reference to 509,572,536 shares outstanding, being the Company’s issued share capital of 577,451,935 ordinary shares less 67,879,399 treasury shares, which carry no voting rights.
As announced at the pre-close trading update on 29 September 2026, the Company has initiated the statutory process to cancel 51,153,590 ordinary shares held in treasury. The cancellation is expected to complete on or around 13 November 2026, subject to expiry of the applicable creditor opposition period under Dutch law. Following the cancellation, the Company’s issued share capital will comprise 526,298,345 ordinary shares, and the number of shares outstanding will be unchanged at 509,572,536.
— ENDS —