u-blox welcomes Spectrum Entrepreneurial Ownership as anchor shareholder

u-blox AG / Key word(s): Statement u-blox welcomes Spectrum Entrepreneurial Ownership as anchor shareholder 15-Nov-2023 / 07:00 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement. Thalwil, Switzerland – 15 November 2023 – u-blox (SIX: UBXN), a global leader in wireless and positioning technologies, through its Board of Directors and Executive Committee welcomes Spectrum Entrepreneurial Ownership (SEO) as long-term anchor shareholder. SEO started building their stake some time ago and yesterday crossed the 5% reporting threshold. This was also due to the acquisition of treasury shares held by u-blox. As a result, SEO is now the company's largest shareholder. André Müller, Chairman of the Board of Directors of u-blox, commented: "A long-term committed, anchor shareholder is important for the stable development of u-blox. In addition, we appreciate the exchange with the professional SEO team." Fabian Rauch, Co-Founder and Managing Partner of Spectrum Entrepreneurial Ownership, added: "u-blox is an excellently positioned company with a lot of potential for development and value creation. We have great confidence in the management team and look forward to accompanying the company on its journey in the coming years." u-blox envisages to propose for election a representative of SEO for an additional seat in the Board of Directors at the 2024 Annual General Meeting.

 

For further information, please contact:

 

Rafael Duarte

Head of Investor Relations

Phone: [phone]

[e-mail]

 

Lena Cati

The Equity Group Inc.
Phone: [phone]

[e-mail]

About u-blox 

u‑blox (SIX:UBXN) is a global technology leader in positioning and wireless communication in automotive, industrial, and consumer markets. Their smart and reliable solutions, services and products let people, vehicles, and machines determine their precise position and communicate wirelessly over cellular and short-range networks. With a broad portfolio of chips, modules, and secure data services and connectivity, u‑blox is uniquely positioned to empower its customers to develop innovative and reliable solutions for the Internet of Things, quickly and cost‑effectively. With headquarters in Thalwil, Switzerland, the company is globally present with offices in Europe, Asia, and the USA.