Accell Group has held its Annual General Meeting of Shareholders and has announced that the Supervisory Board intends to appoint Hielke Sybesma, CFO of Accell Group, as interim CEO and interim Chairman of the Executive Board of Accell Group. Mr. Sybesma will combine his interim role with his current role as CFO. The Group had already announced in February that René Takens would resign as CEO and Chairman of the Executive Board after the Annual General Meeting. A press release noted that Mr. Takens would remain involved with Accell Group as advisor.

In addition, Accell Group announced that turnover in the first months of 2017 is at the same level as in 2016. Sales of e-bikes increased and sales of city and kids bikes decreased. Based on these developments, the company confirms its full year 2017 outlook of an increase in turnover and operational results, barring unforeseen circumstances.

The Group is also reviewing a non-binding offer from Pon Holdings to buy Accell shares. “On April 11, 2017, it was announced that Accell Group received a non-binding and conditional proposal from Pon Holdings for issuing an offer for all Accell Group shares. In order to be able to thoroughly assessthis proposal exploratory discussions are held with Pon Holdings. The Supervisory Board and Executive Board, together with their financial and legal advisors, are carefully reviewing all aspects of Pon Holdings' non-binding proposal. Accell Group will take into account the interests of all stakeholders. There can be no assurance any transaction will result from this proposal and the ongoing discussions. Further announcements will be made if and when appropriate.”