(Boursier.com) – The Board of Directors of Toques Blanches of the World, meeting on December 23, 2021, approved, unanimously by the voters, an operation consisting of a buyback by the company, as part of its share buyback program, of 412,773 of its own shares, i.e. 10% of its capital, held by funds managed by Nextstage AM.
The unit price of the Les Toques Blanches du Monde share used for this operation is 0.10 euro, i.e. a discount of 90% compared to the closing price of December 23, 2021. The total price paid to the funds managed by Nextstage will amount to 41,277.30 euros.
The shares bought back by Les Toques Blanches du Monde will be allocated to the following objectives of the share buyback program:
– 82,554 shares would be allocated to the liquidity contract
– 206,386 shares would be kept for subsequent exchange or payment in the context of possible external growth operations
– 123,833 shares would be kept to ensure the coverage of stock option plans and / or free share plans (or similar plans) for the benefit of employees and / or corporate officers of the group as well as all share allocations under a company or group savings plan (or similar plan), in respect of participation in the company’s results and / or all other forms of allocation of shares to employees and / or corporate officers of the group,
The repurchase will be financed by the available cash flow of the company.
Cabinet AA Fineval, represented by Antoine Nodet, has been appointed by the company as an independent expert responsible for issuing a fairness opinion. At the end of his work, the independent expert concluded that the transaction was fair on the basis of 0.10 euro per share.
The share buyback operation will be carried out through the acquisition of an off-market block. It is not subject to any condition precedent, and should be finalized in the coming days.
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