ADO Den Haag has provided additional text and explanations on the takeover issues through its own channels. Martin Jol and entrepreneurs Ed Maas and Jeroen Lentze are back in the race, let the Eredivision-degradant know.
Jol tried to make a takeover through Chinese shareholder United Vansen and Lentze and Maas had to fight against ICT millionaire Ad Nederlof. ADO says that the latter is still the ‘Preferred Candidate’, but the Jol-Lentze-Maas group (JLM) has also reported itself again. ‘From the outset Groep Nederlof indicated to step aside if another party would make a better bid. ‘
This has to do with the WHO (Homotive Agreement Act) procedure that ADO has entered into, with a view to releasing United Vansen‘s shares. The court has appointed a so-called restructuring expert to manage the acquisition. The JLM Group can now indicate to the restructuring expert how much capital it can free up and what vision they have about operating the club. “In this way, a substantive consideration can be made whether JLM’s proposal is better for ADO Den Haag or not,” ADO explains. The party ‘with the best proposal on money and vision for ADO The Hague’ eventually becomes the new shareholder.
The Residence Club starts its first Kitchen Champion Division competition in thirteen years on the weekend of Friday 6 August and hopes to have completed the takeover by that time. ADO should be in a hurry anyway, because the recently submitted budget is not yet conclusive: if that is still not the case in six weeks, there may be points deductions.
Update state of affairs share transfer.
— ADO The Hague 🔰 (@ADODenHaag) June 30, 2021