RETAIL HOLDINGS N.V. PLACED IN VOLUNTARY LIQUIDATION

WILLEMSTAD, Curacao, March 31, 2023 /PRNewswire/ -- Retail Holdings N.V. (Symbol: RHDGF) -- Retail Holdings N.V. (the "Company") announced today that the Company's shareholders had approved the voluntary liquidation of the Company, now identified as Retail Holdings N.V. – In Liquidation (the "Liquidating Company"), in Curacao, the country of the Company's incorporation. Approximately 98.75% of shareholders attending the meeting, in person or by proxy, voted in favor of liquidation. The entire Board of Directors and Officers of the Company have resigned effective March 31, 2023. 

Shareholders at the meeting appointed as Liquidator, Ms. Ramona Alfred, a Curacao resident with a dispensation from the Central Bank of Curacao and Saint Maarten to provide liquidator services. Ms. Alfred will be assisted by Antillean Management Corporation N.V., (the "Administrator") a Curacao, secretarial services company, who will act as Administrator to the Liquidator and assist her in preparing, completing, and filing all liquidation documents with the local authorities as are deemed necessary.  The Liquidator, assisted by the Administrator, will assume control of all the assets and operations of the Liquidating Company as at March 31, 2023, and will complete the liquidation and dissolve that company when all the requirements for liquidation pursuant to Curacao law and regulation have been satisfied.

No distribution is being made to shareholders at this time. At the discretion of, at a time and in an amount to be determined by the Liquidator, the Liquidator may pay from the cash balance of the Liquidating Company a distribution of the funds, if any, that are determined by the Liquidator to be in excess of likely future claims on the Liquidating Company and other expenses for the liquidation until its ultimate conclusion.

During April 2023, the Company will provide on its website, www.retailholdings.com, certain summary financial information, including a balance sheet as at March 31, 2023 and results of operations from January 1, 2023 to March 31, 2023. The Company intends to maintain its website only until June 30, 2023.

It is not anticipated that the Liquidating Company will provide any financial statements for the period beyond March 31, 2023, other than those that will be required in the liquidation process. The Liquidating Company will not maintain a unique website but will in the period following liquidation provide applicable notices to shareholders, initially through publication on the Company's website and by other means thereafter, as well, as appropriate, through notices in the Landscourant van Curacao.

For additional information or questions, shareholders may for the time being contact the Liquidator, the Administrator or the Liquidating Company at liquidator@retailholdings.com. Further contact details will be provided during April.

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SOURCE Retail Holdings N.V.