Cazoo Announces Expected Record Date for Distribution of Warrants and Expected Effective Date for Reverse Stock Split

Cazoo Group Ltd (NYSE: CZOO) (“Cazoo” or “the Company”), the UK online used car retailer, which makes buying and selling a car as simple as ordering any other product online, today announces that its contemplated distribution of three tranches of warrants to purchase its Class A ordinary shares (the “Warrants”) will be made to holders of record of its Class A ordinary shares (the “Warrant Distribution”) as of close of business on December 7, 2023, after giving effect to Cazoo’s anticipated 1-for-100 consolidation of its issued and unissued share capital (the “Reverse Stock Split”) and other than to holders receiving Class A ordinary shares in the Exchange Offer described below.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231130731570/en/

(Photo: Business Wire)

The last day a shareholder can purchase the Class A ordinary shares, subject to the standard two-day settlement cycle, and be entitled to the Warrant Distribution is December 5, 2023. Shareholders that sell their Class A ordinary shares between December 6, 2023 and the close of business on December 7, 2023 subject to the standard two-day settlement cycle will be eligible to participate in the Warrant Distribution. The Class A shares will begin trading on an ex-dividend basis at the open of trading on December 6, 2023. Shareholders entitled to participate in the Warrant Distribution will receive approximately, in respect of each Class A ordinary share held as of the record date, (i) 1.0870 Tranche 1 Warrants, (ii) 1.1905 Tranche 2 Warrants and (iii) 1.3158 Tranche 3 Warrants. The payment date for the Warrant Distribution is expected to be on or around December 13, 2023. More information about the Warrants is included in the Company’s related registration statement on Form F-1, which was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on November 16, 2023.

The Reverse Stock Split is expected to be effective after the close of trading on December 5, 2023 and Cazoo’s Class A ordinary shares are expected to begin trading on a split-adjusted basis when the New York Stock Exchange opens for trading on December 6, 2023. Implementation of the Reverse Stock Split and the Warrant Distribution are subject to conditions precedent and, as a result, the related effective date and record date and other information set forth in this announcement may be subject to change.