Amsterdam-based Fastned, a developer of fast-charging infrastructure for electric vehicles, announced on Thursday that its founders and investment company Breesaap have decided to sell 380,000 depositary receipts (DR’s) of ordinary shares in the capital of Fastned.
ABN Amro Bank will have complete control over selling the DR’s in a measured and orderly manner on behalf of the parties.
The trading plan will terminate by 31 December 2023.
According to Fastned founders Michiel Langezaal and Bart Lubbers, selling a portion of their holdings is to diversify their portfolios, satisfy tax obligations and repay family loans that were provided to establish Fastned in 2012.
However, the duo also confirmed that they would continue to hold a majority of the DR’s.
- Wilhelmina-Dok B.V. (the personal holding company of Bart Lubbers) holds 39 per cent of the DR’s
- Carraig Aonair B.V. (the personal holding company of Michiel Langezaal) holds 24 per cent of the DR’s
- Breesaap B.V. holds 6 per cent of the DR’s
The announcement comes a few weeks after raising €13M with the issue of new bonds.
Fastned: What you need to know
Founded in 2012 by Michiel Langezaal and Bart Lubbers, Fastned develops a fast-charging infrastructure for electric vehicles across Europe. It owns and operates a network of electric vehicle charging stations in the Netherlands, Germany, Switzerland, the UK, and Belgium.
The majority of its stations are located at Dutch highway rest areas.
With over 215 fast-charging stations, the company provides a fast-charging infrastructure where drivers can charge their electric vehicles up to 300 km of range in 15 minutes before continuing their journey.