27 October 2023
DIGITAL 9 INFRASTRUCTURE PLC
(“D9”, the “Company” or, together with its subsidiaries, the “Group”)
Company Update
Further to the announcement on 17 October 2023 regarding the Company’s shareholder consultation, the Board of Directors of Digital 9 Infrastructure plc (the “Board“) continues to develop a set of actions focused on maximising value for D9’s shareholders.
After careful consideration of the feedback received during the shareholder consultation, among the actions the Board is assessing is a divestment of the Company’s entire stake in the Verne Global group of companies (“Verne Global“) (the “Proposed Transaction“). The Company received indicative offers from interested parties for the Proposed Transaction during the competitive process to syndicate a majority stake in Verne Global to a strategic capital partner (the “Syndication“) and executed terms are expected to be announced in Q4 2023.
Compared with the Syndication, the Board believes the Proposed Transaction would enable the Company to accelerate its balance sheet deleveraging, deliver the cash resources necessary for the Company and Group to strengthen their position, and further maximise shareholder value.
A further update will be provided on the Proposed Transaction in due course.
ENDS.