(AOF) – Technicolor’s combined general meeting of shareholders, which met today with a quorum of 80.61%, is a major step in the realization of the projects publicly announced on February 24. The 15 proposed resolutions were all approved, in particular the first two relating to the approval of the exceptional distribution of 65% of the capital of Technicolor Creative Studios (TCS) in the form of a dividend in kind. She received more than 99% of the votes.
Provided that all the conditions precedent referred to in the second resolution of said meeting are lifted, in particular the issue of bonds convertible into shares decided on May 6, Technicolor shareholders will soon be able to receive TCS shares, in accordance with the a Technicolor Creative Studios action for a Technicolor action.
The distribution will lead to the admission of the TCS shares on the regulated market of Euronext in Paris. According to the timetable envisaged, the listing and admission of TCS shares to trading on Euronext Paris and the ex-date of the distribution will take place on September 27, 2022, and the payment of the distribution, corresponding to the delivery and registration of the TCS shares to the shareholders of the company, must take place on September 29, 2022.
On the day Technicolor Creative Studios is listed on the stock exchange, Technicolor SA will carry out its activities under the new corporate name of “Vantiva”, as approved today by the general meeting.
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Growth of the French market in value
According to the Gfk institute, the sector generated sales of 4.8 billion euros in 2021, up 2% compared to 2020. The product families that benefited from the best performance are in particular helmets and accessories as well as televisions. However, while the French consumer electronics market grew in value last year, it fell in terms of volumes (-2% with 51 million units sold). This trend can be explained by a move upmarket in products: Bluetooth speakers are more powerful or even television sets use more innovative technologies. Thus the development of technologies that improve image resolution (Oled, Qled, miniled) and the size of screens have caused an increase of more than 20% in the average price. Consumers are also looking for more sustainable products.