DOCSLIB.ORG

1 Fastned B.V. EUR 15,000,000 Bond Programme 20 November 2019

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
1 Fastned B.V. EUR 15,000,000 Bond Programme 20 November 2019 Fastned B.V. EUR 15,000,000 Bond Programme 20 November 2019 1 Table of contents 1 General description of the Programme 4 1.1 What are the main features of the Bonds? 4 1.2 KEY INFORMATION ON THE OFFER OF BONDS 5 2 Risk factors 7 2.1 Risks Relating to Fastned’s Industry 7 2.2 Risks Relating to Fastned’s Business 9 2.3 Risk Related to the Regulatory and Legal Environment in which Fastned Operates 13 2.4 Risks Relating to the Financial Environment in which Fastned Operates 15 2.5 Risks relating to the investment in the Bonds 17 3 Important Information 19 3.1 Prospectus 19 3.2 Responsibility 19 3.3 Forward-looking statements 19 3.4 Market and Industry Data 20 3.5 Offering Restrictions 20 3.6 Miscellaneous 21 4 Documents incorporated by reference 22 5 Information about the Issuer 23 5.1 Overview 23 5.2 The Philosophy of Fastned 23 5.3 History 23 5.4 Description of Operations 24 5.5 Internal Organisation Structure 29 5.6 Current Pricing Model 30 5.7 Payment Methods 30 5.8 Customer Satisfaction 31 5.9 Suppliers 31 5.10 Information Technology 32 5.11 Corporate Social Responsibility 32 5.12 Legal Proceedings 32 5.13 Organisational structure 35 5.14 Governance 36 2 5.15 Financial Information 47 6 MARKET 52 6.1 Industry Context 52 6.2 Global trends impacting EV sales 53 6.3 EV sales in Fastned’s addressable market 57 6.4 EV Charging Infrastructure 58 6.5 Competition 60 7 Terms and conditions of the Bonds 63 8 Form of Final Terms 68 9 ISSUE SPECIFIC SUMMARY 70 10 Subscription and Sale 71 10.1 General 71 10.2 United States 71 10.3 European Economic Area 71 11 Taxation 73 11.1 Withholding Tax 73 11.2 Corporate and Individual Income Tax 73 11.3 Gift and Inheritance Tax 75 11.4 Value Added Tax 75 11.5 Other Taxes and Duties 75 12 General Information relating to the Bonds 76 12.1 Offering 76 12.2 Use of proceeds 76 12.3 Board approval 77 12.4 No material adverse change 77 12.5 The Bonds shall not be deposited with a clearing system 77 12.6 Information sourced from third parties 77 12.7 Documents available 77 13 Definitions 79 3 1 General description of the Programme 1.1 What are the main features of the Bonds? Under the EUR 15,000,000 bonds programme described in this Prospectus (the Programme), Fastned B.V. (the Issuer) may issue bonds until the expiration of this Prospectus. Any bonds issued under this Programme and this Prospectus as herein referred as Bonds. The Issuer has a number of bonds outstanding under separate bonds programmes as further described under 1.1.10 below. 1.1.1 Type and Class Under the Programme, Bonds will be issued with a nominal value of EUR 1,000, a maturity of five years, and interest of 6 % per annum. The yield for the Bonds will be [⚫] %. The interest will be payable in arrear at the end of each quarter after the relevant Issue Date (as defined below), with a fixed interest rate of 1.5 % per quarter. The first interest payment will be specified in the applicable Final Terms. The Bonds will be governed by the laws of the Netherlands. The Bonds will be issued in registered form by the Issuer and shall not be deposited with a clearing system. The Bonds will not be rated and the Issuer does not intend to request a rating for the Bonds. At the relevant issue date of the Bonds under this Prospectus (the Issue Date), the Bonds will not be listed and admitted to trading on any regulated exchange or on any other exchange. 1.1.2 Rights attached to the Bonds The Bonds will constitute, unconditional, unsubordinated and unsecured obligations of the Issuer and will rank pari passu among themselves and (save for certain obligations required to be preferred by law) equally with all other unsecured obligations (other than subordinated obligations, if any) of the Issuer, from time to time outstanding. 1.1.3 Taxation All payments in respect of the Bonds will be made without deduction for or on account of withholding taxes imposed by the Netherlands. In the event that any such deduction is made, the Issuer will, save in certain limited circumstances, be required to pay additional amounts to cover the amounts so deducted. 1.1.4 Issuer's negative pledge The terms of the Bonds will not contain a negative pledge provision. 1.1.5 Events of default The terms of the Bonds contain, amongst others, the following events of default: • the Issuer fails to perform or observe any of its obligations under the Bond and such failure continues for a period of 14 days after the Bondholder has notified the Issuer about the failure; • the Issuer fails in the due repayment of the borrowed money, or states that it will fail in the due repayment of borrowed money when becoming due; • the Issuer has taken any corporate action or any steps have been taken or legal proceedings have been instituted against it for its entering into (preliminary) suspension of payments ((voorlopige) surseance van betaling), or for bankruptcy (faillissement); • the Issuer has requested bankruptcy or becomes bankrupt; • the Issuer has taken any corporate action or other steps have been taken or legal proceedings have been instituted against it for its dissolution (ontbinding) and liquidation (vereffening) or ceases to carry on the whole of its business otherwise. 1.1.6 Redemption Subject to any purchase and cancellation or early redemption, the Bonds will be redeemed at its nominal amount on the maturity date of the Bonds as specified in the applicable Final Terms (the Maturity Date). 4 The Bonds may be redeemed early at the option of the Issuer at its nominal amount as further specified in the Conditions and the applicable Final Terms. 1.1.7 Restrictions on Free transferability of the Bonds There are no restrictions under the articles of association of the Foundation or Fastned or Dutch law that limit the right of holders of the Bonds to hold the Bonds. The transfer of the Bonds to persons who are located or resident in, citizens of, or have a registered address in jurisdictions other than the Netherlands may, however, be subject to specific regulations or restrictions according to their securities laws. 1.1.8 Where will the Bonds be traded? The Bonds will have a limited tradability. At the relevant Issue Date, the Bonds will not be listed or admitted to trading on any regulated exchange or on any other exchange. Investors can sell and purchase the Bonds without involvement of the Issuer. The Issuer will provide a contract template for such a transfer at request. The transfer of the Bonds will only take place after the Issuer has received the transfer contract signed by both the purchaser and seller, and after the purchaser has paid a fee of EUR 100.- for each transaction to the Issuer. 1.1.9 What are the risks that are specific to the Bonds? The following is a summary of selected key risks that relate to the Bonds (for a further description of the risks, see - Risk factors • Fastned may not generate sufficient revenues and/or be able to generate subsequent investments (refinancing) to be able to repay the pPrincipal Amount of the Bond(s) at maturity. In such event, the pPrincipal Amount may not be (completely) repaid at maturity. This could result in a delay of repayment or in the worst case, the principal not being (fully) repaid at all. • Fastned may not generate sufficient revenues and/or be able to generate subsequent investments (refinancing) to be able to (completely) make interest payments as they become due. This could result in a delay of interest payments or in worst case, the interest not being (fully) paid out. • The Bonds have a limited tradability. The risk to investors is that they may not be able to sell Bonds in their possession at a moment they wish to do so, possibly not at any price. As a result, it is possible that investors have to wait until the moment of redemption to redeem the Principal Amount related to their investment in the Bonds. 1.1.10 Outstanding bonds under separate bond programmes The Issuer has multiple outstanding loans in the form of bonds, issued under separate bond programmes. The Issuer raised EUR 2.3 million in December 2016, EUR 7.7 million in June 2017, EUR 12.3 million in December 2017, EUR 11.6 million in October 2018 and EUR 10.6 million in March 2019 through the issue of bonds that bear 6% interest and have a maturity of five years. 1.2 KEY INFORMATION ON THE OFFER OF BONDS 1.2.1 Under which conditions and during what period can I invest in the Bonds? 1.2.1.1 Subscription Subscription to the offer is only possible during the subscription period (the Subscription Period). The Subscription Period closes earlier when fully subscribed. The subscription process takes place through the website www.fastned.nl/obligaties (Dutch) and www.fastnedcharging.com/bonds (English) (the Website). The issuance of the Bonds is conditional upon the corresponding payment being made by the investor as part of the subscription. The Issuer has the right to refuse a subscription without disclosure of any reason. The Issuer can extend, shorten or suspend the Subscription Period during or prior to the Subscription Period.
Load more

Recommended publications
  • Press Release Announcing the Public Offering on Euronext
    Not for release, distribution or publication in whole or in part, directly or indirectly, in or into the United States, Australia, Canada or Japan or in any jurisdiction in which such a release, distribution or publication is unlawful Fastned launches its public offering on Euronext Amsterdam Amsterdam, 12 June 2019. Fastned B.V. (Fastned or the Company), the charging ​ company which is building a European network of fast charging stations for fully electric vehicles, today announces the offer price, offer size and publication of the prospectus (the “Prospectus”) for the planned public offering and listing on Euronext Amsterdam (the “Offering”). The offer period of the Offering will commence on Thursday, 13 June 2019 for Dutch retail investors and for institutional investors. Listing of, and first trading in, the Fastned depositary receipts (“DRs”) on Euronext Amsterdam is expected on Friday, 21 June 2019. Offering Highlights ● The offer price for the Offering (the “Offer Price”) is set at €10 per Offer DR; ​ ​ ● The Offering consists of an offering of primary DRs only, comprising up to 3,000,000 new DRs (the “Offer DRs”), to be issued by the Fastned ​ ​ Administratie Stichting, representing up to 3,000,000 newly to be issued ordinary shares with a nominal value of € 0.01 each; ● Bart Lubbers (co-founder) and Michiel Langezaal (CEO and co-founder) will not sell securities in the Offering and intend to continue to be long-term DR holders following the Offering; ● Based on the Offer Price, the Offering aims to raise approximately €27.3 million in gross proceeds, excluding the over-allotment option (and €30 million assuming full exercise of the over-allotment option).
    [Show full text]
  • Fastned Announces Intention to List on Euronext Amsterdam
    Not for release, distribution or publication in whole or in part, directly or indirectly, in or into the United States, Australia, Canada or Japan or in any jurisdiction in which such a release, distribution or publication is unlawful Fastned announces intention to list on Euronext Amsterdam Amsterdam, 9 April 2019. Fastned B.V. (Fastned or the Company), the charging ​ company which is building a European network of fast charging stations for fully electric vehicles, intends to list on Euronext Amsterdam in the first half of 2019. Fastned’s mission is to give freedom to electric drivers, thereby accelerating the transition to sustainable mobility. Fastned’s Highlights ● Amsterdam based Fastned is a pioneer in the development and operation of a network of fast charging stations that provide 100% renewable electricity for fully electric vehicles (FEVs); ​ ​ ● Since its start in 2012, Fastned has built a network of 91 fast charging stations, of which 80 stations in the Netherlands, 11 in Germany and the first station in the UK is about to be opened; ● Fastned has expansion plans for other countries in Europe, with a focus on Belgium, Switzerland (where it recently won a tender for 20 locations) and France; ● Fastned has shown consistent strong growth in volume and revenues, with a compounded growth rate of 30% for its quarter-on-quarter revenue in the 2015 – 2018 period. ● Fastned believes it is uniquely positioned to benefit from the mega-trend towards full electrification of mobility, supported by (i) government support in the form of regulations
    [Show full text]
  • Fastned Prospectus Euronext Amsterdam
    FASTNED B.V. (a private company with limited liability (besloten vennootschap met beperkte aansprakelijkheid) incorporated under the laws of the Netherlands, with its statutory seat in Amsterdam, the Netherlands) Admission to listing and trading on Euronext in Amsterdam Fastned B.V. (the Company or Fastned) has applied for admission to listing and trading on Euronext in Amsterdam, a regulated market operated by Euronext Amsterdam N.V. (Euronext Amsterdam) of all of the depositary receipts (the DRs) issued by Fastned Administratie Stichting (the Foundation) representing the issued and outstanding ordinary shares in the share capital of the Company with a nominal value of EUR 0.01 each (the Shares) under the symbol “FAST” (the Listing). It is expected that the Listing, subject to extension or acceleration of the timetable, will become effective and that trading in the DRs on Euronext Amsterdam will commence on 14 June 2019. At the date of this prospectus (the Prospectus), the DRs are listed on Nxchange, a regulated market of Nxchange B.V. (Nxchange). On 9 April 2019, Fastned has terminated its agreement with Nxchange. The agreement will expire at the expiration of a six month notice period. Trading remains possible on Nxchange as long as Nxchange facilitates this option on its platform. Fastned will inform the DR Holders (as defined below) who wish to migrate from Nxchange to Euronext Amsterdam (as defined below) on its website (https://ir.fastnedcharging.com/) and via the Nxchange messaging system, on how such DR Holders (as defined below) can migrate from Nxchange to Euronext Amsterdam. The Prospectus does not constitute an offer to sell, or a sollicitation of an offer to buy, any of the DRs or any other securities issued by the Company.
    [Show full text]
  • 21 October 2020 FOURTH SUPPLEMENT to the FASTNED
    21 October 2020 FOURTH SUPPLEMENT TO THE FASTNED B.V. BOND PROGRAMME BASE PROSPECTUS DATED 20 November 2019 The reason for this Supplement is the incorporation of the Fastned H1 2020 Interim Report, the Fastned Q3 2020 Trading Update and the increase of the aggregate amount under this Prospectus. FASTNED B.V. (incorporated in the Netherlands as a private company with limited liability (besloten vennootschap met beperkte aansprakelijkheid), having its corporate seat in Amsterdam, the Netherlands) 1. This Supplement dated 21 October 2020 (the Supplement) constitutes the fourth supplement to the Fastned B.V. Bond Programme dated 20 November 2019, which is supplemented with the first supplement dated 23 June 2020, the second supplement dated 30 June 2020 and the third supplement dated 16 July 2020 (together the Base Prospectus) issued by Fastned B.V. (the Issuer). Terms defined in the Base Prospectus have the same meaning when used in this Supplement. 2. This Prospectus comprises a base prospectus for all Bonds issued under the Programme for the purposes of Article 8 of Regulation 2017/1129/EU of the European Parliament and of the Council of 17 June 2017 and has been prepared in accordance with the Prospectus Regulation. 3. This Supplement is an amendment and a supplement to the Base Prospectus within the meaning of article 8 of Directive 2017/1129/EU. This Supplement has been filed with and approved by the Dutch Authority for the Financial Markets ("Stichting Autoriteit Financiële Markten" or "AFM"). This Supplement is supplemental to, and should be read in conjunction with, the Base Prospectus and any other supplements thereto issued by the Issuer.
    [Show full text]
  • 2020 Annual Report
    1 Table of Contents Key figures 8 Message from the CEO 10 Part 1 - Management Report 13 Business review 2020 14 Business & market outlook 18 Financial review 25 Risks and risk management 32 Corporate Governance 36 Remuneration report 39 Supervisory board report 42 Members of the FAST board 46 Members of the management board 47 Members of the supervisory board 48 In control and responsibility statements 49 Non IFRS Measures 50 Part 2 - Financial Statements 52 Consolidated statement of profit or loss 55 Consolidated statement of comprehensive 56 income Consolidated statement of financial position 57 Consolidated statement of changes in equity 58 Consolidated statement of cash flows 59 Notes to the consolidated financial statements 60 1. General information 60 2. Significant accounting policies 60 3. Significant accounting estimates, judgements 72 and errors 4. Capital management 74 5. Group information 75 6. Revenue and segment information 76 7. Cost of sales 77 8. Other income/expense 77 9. Income tax 79 10. Earnings per share 80 11. Other intangible assets 81 12. Property, plant and equipment 82 2 13. Right of use assets 84 14. Financial assets and financial liabilities 85 15. Trade and other receivables and prepayments 91 16. Cash 92 17. Issued capital and reserves 93 18. Trade and other payables 94 19. Lease liabilities 94 20. Provisions 94 21. Deferred revenues 95 22. Share-based payments 96 23. Commitments and contingencies 98 24. Related party disclosures 98 25. Key events post reporting date 100 26. Remuneration of auditors 101 27. Standards issued but not yet effective 101 Parent company financial statements Parent 102 company Parent company statement of profit or loss 102 Parent company statement of financial position 103 Notes to the parent company financial 104 statements 28.
    [Show full text]