(CercleFinance.com) – The luxury connected audio specialist Cabasse is rising sharply on the Paris Stock Exchange on Monday following the announcement of an exceptional dividend project via the distribution of shares.
The Board of Directors has planned to propose to the shareholders, during a general meeting convened on November 21, to approve an exceptional distribution in kind of 50.1% of the shares making up the capital, up to one share for five detained.
This exceptional distribution in kind would be subject to a detachment on November 28, followed by payment on November 30.
It is expected that Cabasse shares will be listed on the Euronext Growth system of Euronext Paris at the same time as they are distributed.
During the general meeting of November 21, shareholders will also be asked to vote on a change in the corporate name of Cabasse Group, which would be renamed VEOM Group and would retain 49.9% of Cabasse.
At 12:30 p.m., the stock jumped more than 73% following all these announcements.
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