Allego Announces Continued Commitment to Accelerating EV Adoption in Europe
ARNHEM, Netherlands–(BUSINESS WIRE)–Allego (NYSE: ALLG), a leading pan-European public electric vehicle fast and ultra-fast charging network, today announced that it has completed the voluntary delisting of its ordinary shares (the “Shares”) from the New York Stock Exchange (“NYSE”) following the conclusion of the previously announced tender offer by Madeleine Charging B.V., Allego’s majority shareholder.
Allego filed Form 25 with the U.S. Securities and Exchange Commission (“SEC”) on August 12, 2024, relating to the delisting of the Shares in accordance with Rule 12d2-2 declared under the Securities Exchange Act of 1934, as amended. Today, August 22, 2024, is the last trading day of the Shares on the NYSE.
As Allego transitions from publicly listed status, it remains focused on accelerating the transition to sustainable e-mobility in Europe.
Mathieu Bonnet, CEO of Allego, says, “Allego continues to focus on expanding its EV charging network, enhancing its technology platforms, fostering strategic partnerships, and meeting the growing demand for reliable and accessible charging solutions.”
Allego’s vision remains clear: to lead the electric vehicle charging industry, ensuring EV drivers’ seamless and sustainable charging experience.
About Allego
Allego is a leading electric vehicle charging solutions provider dedicated to accelerating the transition to electric mobility with 100% renewable energy. Allego has developed a comprehensive portfolio of innovative charging infrastructure and proprietary software, including Allamo and EV Cloud platforms. With a network of 35,000 charging points (and counting) spanning 16 countries, Allego delivers independent, reliable, and safe charging solutions, agnostic of vehicle model or network affiliation. Founded in 2013 and publicly listed on the NYSE in 2022, Allego now employs a team of 220 people striving daily to make charging accessible, sustainable, and enjoyable for all.
For more information, please visit www.allego.eu.
Forward-Looking Statements
All statements other than statements of historical facts contained in this press release are forward-looking statements. Allego intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Forward-looking statements may generally be identified by the use of words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,”, “project,” “forecast,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” “target” or other similar expressions (or the negative versions of such words or expressions) that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, without limitation, Allego’s expectations with respect to future performance. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially, and potentially adversely, from those expressed or implied in the forward-looking statements. Most of these factors are outside Allego’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (i) the ability of the Company to cure the minimum share price deficiency and regain compliance with NYSE listing standards and for the Company’s ordinary shares to remain listed on the NYSE, (ii) changes adversely affecting Allego’s business, (iii) the price and availability of electricity and other energy sources, (iv) the risks associated with vulnerability to industry downturns and regional or national downturns, (v) fluctuations in Allego’s revenue and operating results, (vi) unfavorable conditions or further disruptions in the capital and credit markets, (vii) Allego’s ability to generate cash, service indebtedness and incur additional indebtedness, (viii) competition from existing and new competitors, (ix) the growth of the electric vehicle market, (x) Allego’s ability to integrate any businesses it may acquire, (xi) the agreement of various landowners to deployment of Allego charging stations, (xii) Allego’s ability to recruit and retain experienced personnel, (xiii) risks related to legal proceedings or claims, including liability claims, (xiv) Allego’s dependence on third-party contractors to provide various services, (xv) data security breaches or other network outage, (xvi) Allego’s ability to obtain additional capital on commercially reasonable terms, (xvii) Allego’s ability to remediate its material weaknesses in internal control over financial reporting, (xviii) the impact of COVID-19, including COVID-19 related supply chain disruptions and expense increases, (xix) general economic or political conditions, including the Russia/Ukraine and Israel/Hamas conflicts or increased trade restrictions between the United States, Russia, China and other countries, and (xx) other factors detailed under the section entitled “Risk Factors” in Allego’s filings with the Securities and Exchange Commission. The foregoing list of factors is not exclusive. If any of these risks materialize or Allego’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Allego presently does not know or that Allego currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Allego’s expectations, plans or forecasts of future events and views as of the date of this press release. Allego anticipates that subsequent events and developments will cause Allego’s assessments to change. However, while Allego may elect to update these forward-looking statements at some point in the future, Allego specifically disclaims any obligation to do so, unless required by applicable law. These forward-looking statements should not be relied upon as representing Allego’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
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