Exxe is set to commence a spin-off program of up to 4 of its current businesses to shareholders
Targeted spin-offs are in Exxe's furniture/design, medical, automotive, and real estate divisions
The objective of these transactions is to maximize overall value for Exxe investors
The first spin-off date and subsequent events will be announced in December 2022
NEW YORK, NY / ACCESSWIRE / December 7, 2022 / Exxe Group, Inc. (OTC PINK:AXXA), ("Exxe" or the "Company") a diversified fintech company, is pleased to announce the first stage of the Company's new investor-centric, corporate roadmap, whose early implementations have recently commenced. Management believes that these spin-off events will be transformative, directly benefitting the Company and its shareholders. Exxe is finalizing the timeline of events and mechanics related to the events and the Company will announce these milestones later this month.
Spin-off Objective Designed to Build and Extract Value
Exxe Group leadership has reviewed a series of options related to audits for the whole company in an effort to become fully reporting which could serve as a catalyst or precursor to a proper revaluation of its overall market value. Given the complexity of auditing some of its foreign assets and businesses, Exxe determined that the best near-term approach is to audit core assets individually rather than the firm as a whole. Since it is not uncommon for the "sum of the parts" to be afforded more favorable values than the conglomerate, management has elected to enter into a multi-step public spin-off strategy to maximize shareholder value. It is currently estimated that the process of each spin-off will take 6-12 months.
The Stages, The Mechanics
The Exxe spin-off strategy consists of a series of steps and mechanics, with firm details and timetables to be announced in December 2022, January 2023. In the interim, shareholders should be aware of the following stages and events for the first spin-off. It is expected that the following events will follow a similar timeline.
Stage 1: Exxe will set up a "NewCo" in which daskonzept group and other related technologies will reside. Exxe believes that the current interrelationships between the fast-growing daskonzept group and other Exxe technologies position Exxe with an unusual competitive advantage that it plans to continue to exploit.
Stage 2: Mechanics of the spin-off to shareholders, including its form, such as a dividend, percentage ownership breakdowns, etc. will be finalized.
Stage 3: An ex-dividend date and record date for ownership of shares will be finalized so that current and prospective investors can participate in the ownership and spin-off of NewCo. It is currently estimated that this date will be in the next 90 days.
Stage 4: An audit of NewCo will commence. A third-party valuation firm will produce a valuation report.
Stage 5: Investors who have purchased the shares before the ex-dividend date will receive their pro rata shares of the private NewCo. Mechanics regarding how the shares will be distributed of NewCo shares (via electronic deposit or stock certificate) will be determined. It is currently estimated that this stage will occur within 4-6 weeks from the ex-dividend date.
Stage 6: Details of final preparations prior to the planned commencement of trading of NewCo's shares will be presented after the work of the legal team is completed.
Dr. Eduard Nazmiev, Exxe Group CEO, commented on the Company's new roadmap and strategy. "Since inception, Exxe leadership has been focused on building and growing our businesses in order to maximize value for our shareholders. After exhaustive internal reviews of various options, we are excited to finally commence our objective of achieving maximum shareholder value through individual public spin-offs, in the likely form of dividends. We have identified four of these core assets in Exxe's furniture/design, medical supply, automotive, and real estate divisions. These moves serve as transformative events for Exxe and our shareholders. We look forward to providing a firm timetable of events later this month as we launch the first spin-off, daskonzept group."
About Exxe Group
Exxe Group Exxe is a diversified fintech company with assets in real estate, architectural design, agricultural, automotive, medical, media, and trading technology. Exxe Group acquires controlling equity interests in undervalued assets, and undertake an active role in improving their performance - accelerating their growth by providing both access to capital and management expertise.
For additional information please visit the Company's
Website: http://www.exxegroup.com/
Twitter: https://twitter.com/exxegroup
Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainties and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release.
CONTACT: Exxe Group IR: info@exxegroup.com
SOURCE: Exxe Group, Inc.
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