(AOF) – Archos has announced the implementation of the consolidation of the shares making up its share capital at the rate of 10,000 old shares for 1 new share, in accordance with the first resolution approved by the extraordinary general meeting of shareholders dated October 28 2021. The consolidation operations will take place from February 8, 2022 to March 10, 2022 inclusive. They will take effect on March 11, 2022, the first day of listing of the shares resulting from the combination.
“The objective of this combination is to support a new stock market dynamic for the company, as well as to reduce the volatility of the Archos share price, induced by the low level of its current value”, explains the specialist in consumer electronics.
In detail, shareholders holding a total number of shares forming an exact multiple of 10,000 will not have to take any action. Shareholders who do not have a number of old shares corresponding to a whole number of new shares (i.e. a multiple of 10,000 old shares) will have to deal personally with the purchase or sale of old shares forming odd lots in order to obtain a number of shares multiple of 10,000, until March 10, 2022 inclusive.
After this period, shareholders who have not obtained a number of shares multiple of 10,000 will be compensated by their financial intermediary within 30 days from March 11, 2022.
The new shares which could not be allocated individually and corresponding to fractional rights will be sold on the stock market by the account holders and the sums from the sale will be distributed in proportion to the fractional rights of the holders of these rights.
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