Re: Co z sell-outem?

Mandatory sell-out
A minority shareholder who wants to exercise its right of mandatory sell-out must inform Namsen
Limited by registered letter and provide to Namsen Limited (i) its identity and contact details, (ii)
proof of title and (iii) information on the number of Kernel shares held. A minority shareholder who
wishes to exercise the right of sell-out must do so within three months as from the publication of
this current report. A copy of that registered letter must be sent to the CSSF and to the Company
as laid down in Article 5 of the Squeeze-Out/Sell-Out Law.
Where the mandatory sell-out right is exercised by one or several minority shareholders, Namsen
Limited shall also become subject to notification requirements to ensure that minority
shareholders are made aware of the sell-out process. Article 5(4) of the Squeeze-Out/Sell-Out
Law provides that the majority shareholder must, within one month of the notification,
communicate to the CSSF the proposed sell-out price as well as a valuation report drawn up by
an independent expert to support the proposed sell-out price