NEW DELHI, Oct. 5, 2020 /PRNewswire/ — Nagarro SE, a global leader in digital engineering, today announced the achievement of two key milestones to support its plan to list its shares on the Frankfurt Stock Exchange and accelerate growth.
- Spin-off overwhelmingly approved; enables focus on core strategy and strengths
- Launch of new brand identity as an independent company with a highly distinctive culture
Spin-Off from Allgeier SE Approved
The resolution to approve the Spin-off and Transfer Agreement entered into between Allgeier SE (ISIN DE000A2GS633, WKN A2GS63) and Nagarro SE was passed by Allgeier SE’s Annual General Meeting of Shareholders held on September 24, 2020, with 99.93 percent of the votes cast.
“This overwhelming display of shareholder confidence in Nagarro’s track record and ability to continue delivering deep, sustainable value as a global leader in digital engineering, is a validation of our team’s relentless pursuit of excellence and a caring-centric culture,” said Manas Fuloria, Custodian of Entrepreneurship in the Organization (CEO) and co-founder of Nagarro SE.
The materials and webcast recording of Nagarro’s recent Capital Markets Day held on September 28, 2020 can be accessed via this link (registration necessary).
Launch of New Brand Identity
Nagarro employs over 8,400 people and serves customers in more than 45 countries with offices in 25 countries. Recognising that Nagarro is at a critical inflection point in its growth story, the company has developed and launched a new brand identity that encapsulates and celebrates its highly distinctive caring-centric corporate culture that is agile, entrepreneurial, non-hierarchical and global. The decision to recraft Nagarro’s brand around this equality-driven global spirit was taken to cement and double down on Nagarro’s differentiation from its competitors even more as it pursues a listing on the Frankfurt Stock Exchange.
“The new brand goes well beyond visuals and represents where we come from and where we are going as a company. ‘CARING’ has always been one of Nagarro’s core values, but it remained, at times, as something intangible. This idea fuelled the creative energy of the team to think about what ‘CARING’ really brings to our people, customers, and communities, and how it truly defines what makes Nagarro unique,” summarized Manas Fuloria.
Nagarro is a global digital engineering leader with a full-service offering. Nagarro specializes in “change the business” technology services, including digital product engineering, e-commerce and customer experience services, Artificial Intelligence and Machine Learning capabilities, cloud and IoT solutions, and consulting on next-generation ERP. The company has a broad and long-standing international customer base, primarily in Central Europe, particularly Germany, and in North America. This includes a number of global blue-chip companies and leading independent software vendors (ISVs), other market and industry leaders, and public sector clients. In total, the group employs over 8,400 people worldwide (as of June 30, 2020). www.nagarro.com
This press release and the information contained herein are for information purposes only and do not constitute a prospectus or an offer to sell or a solicitation of an offer to buy or subscribe for any securities in the United States of America (“U.S.”), Canada, Japan, Australia or in any other jurisdiction. Any securities to be distributed in connection with this transaction have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or the laws of any state of the U.S. Neither Nagarro SE nor Allgeier SE intends to register any securities referred to herein in the U.S.
This communication is being distributed to, and is directed only at, persons in the United Kingdom in circumstances where section 21(1) of the Financial Services and Markets Act 2000 does not apply. This document does not constitute an offer document or an offer of securities to the public in the U.K. to which section 85 of the Financial Services and Markets Act 2000 of the U.K. applies and is not, and should not be considered as, a recommendation that any person should subscribe for or purchase any securities. This document is being communicated only to (i) persons who are outside the U.K.; (ii) persons who have professional experience in matters relating to investments falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the “Order”) or (iii) persons within the scope of article 43 of the Order or (iv) high net worth companies, unincorporated associations and other bodies who fall within article 49(2)(a) to (d) of the Order (all such persons together being referred to as “Relevant Persons”). Any investment or investment activity to which this document relates is available only to and will be engaged in only with Relevant Persons, and any person who is not a Relevant Person must not act or rely on this communication or any of its contents. This document should not be published, reproduced, distributed or otherwise made available, in whole or in part, to any other person without the prior consent of Allgeier SE.
To the extent this announcement contains statements related to our future business and financial performance and future events or developments involving the Allgeier Group and which may constitute forward-looking statements, these statements may be identified by words such as “expect”, “forecast”, “anticipate”, “intend”, “plan”, “believe”, “seek”, “estimate”, “will”, “target” or words of similar meaning. Such statements are based on the current expectations and certain assumptions of Allgeier’s management, of which many are beyond Allgeier’s control. Future actual developments and future actual results may differ from these assumptions and estimates. Allgeier SE gives no guarantee and assumes no liability that future developments and the actual results achieved in the future will correspond to the assumptions and estimates expressed in this announcement. All forward-looking statements only speak as of the date when they were made and Allgeier neither intends, nor assumes any obligation, unless required by law, to update or revise these forward-looking statements in light of developments which differ from those anticipated.
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