u-blox Shareholders Approve Board Elections and Delisting Plan at Extraordinary General Meeting

u-blox shareholders have unanimously approved all motions presented by the Board of Directors during the Extraordinary General Meeting 2025 held in Horgen, Switzerland. The comprehensive approval signals strong shareholder support for the company's strategic direction during a period of significant corporate transformation. The meeting outcomes represent critical steps in u-blox's corporate restructuring following the public tender offer initiated by Advent International earlier this year.

Shareholders elected Claudio Simao as both a member and Chairman of the Board of Directors, bringing new leadership to the global technology company. The election also saw Ronald Ayles and Bernhard Spetsmann joining the board as members, with all positions effective until the conclusion of the next ordinary general meeting. Additionally, shareholders approved the appointments of Claudio Simao and Ronald Ayles to the company's Nomination, Compensation and Sustainability Committee, strengthening the governance framework during this transitional period.

All board elections and committee appointments are contingent upon the completion of the public tender offer launched by Advent International through its indirect subsidiary ZI Zenith S.a r.l. This condition underscores the interconnected nature of the corporate actions and the strategic importance of the tender offer in shaping u-blox's future direction. The company has positioned itself as a global leader in positioning and short-range communication technologies, serving automotive, industrial, and consumer markets worldwide.

In a significant development for the company's public market presence, shareholders approved the delisting of u-blox's registered shares from the SIX Swiss Exchange. This decision is also subject to the successful completion of the public tender offer, with the Board of Directors authorized to implement the delisting resolution following the offer's conclusion. The delisting represents a major shift in the company's capital structure and public market participation.

The approved motions have substantial implications for u-blox's stakeholders and the broader technology sector. The leadership changes and delisting decision could potentially streamline decision-making processes and provide greater strategic flexibility as the company navigates evolving market conditions in positioning and communication technologies. For investors and industry observers, these developments signal u-blox's transition toward a potentially more focused operational structure under private ownership.

The minutes of the Extraordinary General Meeting 2025 will be available on the company's website at https://www.u-blox.com in the coming days, providing full transparency of the proceedings and decisions made during the meeting. This documentation will offer stakeholders comprehensive insight into the corporate governance decisions shaping u-blox's future trajectory in the competitive global technology landscape.