We believe it is important that our investors support this bond issue and this proposition. We would therefore like to offer our investors a one-off discount. We want to give extra reward to investors who buy a substantial amount of bonds.

The amount of the discount depends on the total number of bonds purchased by an investor during the entire subscription period of the issue, including any extensions. This payment will take place at the same time as the first interest payment once the issue is closed. The discount therefore only applies to a successful issuance of bonds and will be paid out to the NPEX account after the closing of the entire issue with the subsequent interest payment.

Note: The full amount, including 1% emission costs, must be paid during registration.

The effective price per bond therefore becomes lower. You can see how this works in the table below:

We are not currently running a business. We were recently founded by our shareholder Gouden Buys BV. We plan to purchase LCS Piping BV and LCS Services BV (hereinafter: “LCS”).

Our goal is to become a dominant player in the market for processing (steel) pipe products. We want to achieve this by growing with LCS and, among other things, by acquiring companies that supplement or support LCS.

We believe that LCS is a well-profitable company with a solid foundation and good growth prospects. LCS has a good positioning within the market. In addition, LCS is the only one in the Netherlands that has a so-called Mapress bending certificate. We believe that LCS's good positioning offers room to expand within this industry. We also think this is a solid basis for expanding into other industries. This may or may not be supported by future acquisitions.

The current owner and director of LCS wants to sell LCS and focus on other matters. We are interested in LCS and therefore want to purchase LCS from the current owner. The seller will remain involved with LCS in an operational role until June 30, 2021. The seller will then focus on other matters within the company, including the development of LCS growth scenarios.

LCS Piping is the specialist in bending materials for, among others, the luxury yacht building industry.

LCS was founded in 1997 and has since developed into a specialist in bending steel, stainless steel and cunifer tubes, which are mainly used for the construction of luxury (super) yachts. In addition, LCS also supplies complete pipeline installations for both new construction and repair purposes. The company distinguishes itself from other bending companies because it is the only one in the Netherlands with a Mapress bending certification, which will be explained later. As mentioned, LCS's core activity is the supply of (curved) parts for the yacht building industry, but the company has also expanded into other industries and produces and supplies, among other things, street furniture, bicycle racks, pressurized water tanks and fuel units.

LCS has now developed a strong relationship with its customers and suppliers, is innovative and reliable, which gives it a strong position within the industry.

CNC benches & expanding machine

LCS has advanced machinery for the production of LCS's tailor-made products. LCS has 5 CNC-controlled bending benches, making it possible for LCS to bend pipes with a bending radius of 1½D. In addition, LCS also uses various bending tools, which makes it possible for LCS to bend up to 5".

Since 2020, LCS has also been certified by Lloyd's register for expanding pipes in steel, stainless steel and Cunifer. Expanding allows the diameter of a pipe to be increased. A special expanding machine was purchased for this purpose.

Thanks to all this modern equipment, the high quality and experience of the employees, LCS can supply pipes in almost all shapes and sizes, and weld-seamless customization.

LCS, as mentioned earlier, specializes in bending pipes for, among other things, pipeline installations for the construction of yachts. The assignments are basically the same, but the size, pipe thickness, material, type of bend, etc. distinguish these assignments from each other, meaning that each assignment is tailor-made and therefore each pipe is unique. Of all the yachts shown in the photos on this page, the pipework was supplied by LCS with the exception of the PVC pipes. For the Sea Owl, LCS supplied 2.393 pieces of stainless steel, cunifer and steel pipes. These are used for, among other things, the engine room, air conditioning, dirty and clean water, as well as the water drainage on the deck, the whirlpool, the swimming pool, etc. But this delivery also applies to all other yachts. Below you will find a number of photos of the pipework that LCS supplies and the end products:

Jolanda den Otter

Jolanda den Otter is the current owner & general manager Technical Manager of LCS Piping. She has been the indirect owner of LCS Piping since 2008. She is also the daughter of the founder and former owner of LCS Piping. Before she became the owner of the company, she already worked as an administrative assistant and, through her father's work, has a lot of experience in regular shipbuilding and luxury yacht building. Jolanda den Otter will remain involved with LCS in an operational role at least until June 30, 2021. Jos Louwhoff will then take over her position within the company. Jolanda den Otter will then focus on other matters within the company, including the development of LCS growth scenarios. She will also remain involved in the company as an investor through this bond loan as previously explained in this prospectus.

The structure of the company after the acquisition is as follows:

Investing always involves risks. The main risk you run is that LCS Piping International will not have the money to repay you or pay the interest. This could happen, among other things, if customers do not return and we do not grow sufficiently. Then you may not receive any repayment of the loan and you will not receive any interest.

No further guarantees are provided. For the complete risk analysis, please refer to the prospectus and the information document.

The rates charged by NPEX are shown below.

*To be calculated based on the nominal value of the bonds in the portfolio on the coupon payment date and to be offset against the (monthly) interest payment.