Distribution in kind of 50.1% of the share capital of Cabasse to the shareholders of VEOM Group
Payout parity: 1 Cabasse share, with a book value of €9.42, for 5 Cabasse Group shares
Listing of Cabasse shares on the Euronext Growth market
®
in Paris Change of corporate name: Cabasse Group becomes VEOM Group
At the Combined General Meeting of November 21, 2022 of
VEOM Group
(formerly Cabasse Group)
(Euronext Growth – FR0013530102 – ALVG)
a leading European group in the world of
smart home
(smart home), the shareholders approved unanimously of the votes cast, the proposal for the exceptional distribution in kind of 50.1% of the shares making up the share capital of the Cabasse subsidiary, a French luxury high-fidelity audio company , up to one (1) Cabasse share received for five (5) VEOM Group (formerly Cabasse Group) shares held (read the Cabasse Group press release of October 17, 2022).
This exceptional distribution in kind of Cabasse shares will be detached on November 28, 2022 and paid on November 30, 2022.
The total number of Cabasse shares allocated to shareholders of VEOM Group (formerly Cabasse Group) thus amounts to 510,426 according to the distribution parity used.
The total amount of the distribution in kind amounts to €4,808,212.92, deducted from the reserve accounts for €1,451,345.87 and from the premium accounts for €3,356,867.05.
The amount attributable to each VEOM Group (formerly Cabasse Group) share is €1.88, corresponding to:
a share of €0.57 qualified for French tax purposes as distributed income, and;
a share of €1.31 qualified for the purposes of French taxation as reimbursement of the contribution, for the balance.
With regard to the tax regime, shareholders are invited to refer to the report of the Board of Directors and its addendum detailing the terms of the distribution operation, made available on the Company’s website (VEOMgroup-bourse.com ), section Meetings.
Cabasse shares will be listed on the Euronext Growth multilateral trading system at the same time as they are distributed.
®
in Paris.
Upon settlement-delivery of this distribution operation, on November 30, 2022, the stake of VEOM Group (formerly Cabasse Group) in the capital of Cabasse will thus be reduced from 99.99% of the share capital to 49.89% of the share capital. at the end of the distribution operation and before the completion of the capital increase currently in progress (read the Cabasse press release of November 17, 2022).
The balance of the capital, at the end of the distribution operation and before the completion of the capital increase, will be held by the reference shareholders of VEOM Group (formerly Cabasse Group) for 11.9% and the free float would stand at 38.2%.
Cabasse shares can be fully integrated into PEA PME-ETI, which benefit from the same tax advantages as the classic PEA.
Change of corporate name: Cabasse Group becomes VEOM Group
During the same combined general meeting, the shareholders approved the change of name of Cabasse Group, which is now renamed VEOM Group.
The new mnemonic code becomes from November 22, 2022 ALVG, instead of ALCG. The ISIN code of the VEOM Group (formerly Cabasse Group) shares remains unchanged: FR0013530102.
The liquidity contract for VEOM Group (formerly Cabasse Group) shares entered into with the brokerage firm Gilbert Dupont, suspended since October 17, 2022, will be reactivated from the trading session of November 30, 2022.
Plan for the free allocation of subscription warrants (BSA
LOYALTY
) in order to build the loyalty of Cabasse shareholders
Any Cabasse shareholder, who will receive Cabasse shares as part of the distribution in kind or who would subscribe to new shares as part of the capital increase project, and who would retain their Cabasse shares without interruption for 12 months from from the date of settlement delivery of the new shares relating to the capital increase will be given free of charge 1 share subscription warrant (BSA
LOYALTY
) for 1 Cabasse share held.
10 warrants
LOYALTY
will give the right, for a period of three years, to subscribe to 1 new or existing share of Cabasse at the price of €9.42, the price corresponding to the valuation retained within the framework of the distribution in kind of the shares of the subsidiary Cabasse to the shareholders of Cabasse Group and at the offer price as part of the capital increase.
Financial diary 2022
Turnover 4 |
February 2, 2023 |
2022 annual results |
April 19, 2023 |
These dates are given as an indication, they are likely to be modified if necessary. The publications will take place after the closing of the Euronext markets.
About Cabasse Group
Cabasse Group is a leading European group in the world of
smart home
(Smart home).
The group is present in the most dynamic segments of the
smart home
: high-fidelity audio, under the Cabasse brand, home automation and home comfort solutions, under the Dio brand, and video-security equipment and electrical accessories under the Chacon brand.
The group presents a strong complementarity of its brands, technological synergies based on its software platform
Smart Home Business Platform
and a combination of product, industrial, design and commercial know-how, with the ambition of democratizing the smart home among households.
Cabasse Group benefits from an established global organization, with a presence in France (Montpellier and Brest), Belgium (Brussels), the United States (Menlo Park) and an industrial subsidiary in Singapore.
Cabasse Group has been recognized on several occasions among the hyper-growth French Tech companies.
Label: Cabasse Group
ISIN Code: FR0013530102
Mnemonic code: ALCG
Number of shares making up the share capital: 2,577,033
More information on Cabassegroup.com
– Twitter: @Cabasse_Group – Facebook: /Cabasseofficiel – /Chacon.DiO.France
contacts
Cabasse Group | NEWS – Investor Relations | NEWS – Press relations |
About Cabasse
Founded by Georges Cabasse in 1950, Cabasse is a French acoustics specialist that designs and markets high-fidelity audio solutions (connected and passive speakers, amplifiers, etc.) for music enthusiasts. Equipped with the famous coaxial speakers, these luxury audio solutions provide unequaled sound and music reproduction.
The culmination of more than 70 years of innovation and acoustic engineering, Cabasse has launched THE PEARL range since 2018, the most complete collection of high-resolution connected active speakers on the market. With the success of this range, Cabasse has now entered a phase of strong growth, with sales rising from €6.3 million in 2019 to €11.0 million in 2021, representing average annual growth in activity by +32% over the last two years.
By relying on its widest range of luxury and high-resolution connected audio solutions on the market and by continuing to increase its export market share, Cabasse aims to be, by 2025, among leaders in the global Luxury Home Audio market.
Since 2014, Cabasse has been owned by Cabasse Group (Euronext Growth – FR0013530102 – ALCG), a leading European group in the world of Smart Home (smart home), pioneer of multi-room and streaming technologies.
More information on Cabasse.com
Warning
This press release contains information on the outlook and areas for development of Cabasse Group and Cabasse. These indications are sometimes identified by the use of the future, the conditional and forward-looking terms such as “believe”, aim to”, expect”, “hear”, “estimate”, “believe”, “must”, “could”, “wish” or, where appropriate, the negative form of these terms or any other variation or similar expression. This information is not historical data and should not be interpreted as guarantees that the facts and data stated will occur. This information is based on data, assumptions and estimates considered reasonable by Cabasse Group and Cabasse. They are likely to change or be modified due to uncertainties related in particular to the economic, financial, competitive and regulatory environment. This information contains data relating to the intentions, estimates and objectives of Cabasse Group and Cabasse concerning, in particular, the market, strategy, growth, results, financial situation and cash flow of Cabasse Group and Cabasse. The forward-looking information mentioned in this press release is given only as of the date of this press release. Cabasse Group and Cabasse make no commitment to publish updates to the information contained in this press release, except within the framework of any legal or regulatory obligations applicable to them. Cabasse Group and Cabasse operate in a rapidly changing competitive environment; they cannot therefore be able to anticipate all the risks, uncertainties or other factors likely to affect their activity, their potential impact on their activity or even to what extent the materialization of a risk or a combination of risks could have results significantly different from those mentioned in any forward-looking information, being reminded that none of this forward-looking information constitutes a guarantee of actual results.
This press release constitutes a communication of a promotional nature and not a prospectus within the meaning of Regulation (EU) No. 2017/1129 of the European Parliament and of the Council of June 14, 2017 (the “Prospectus Regulation”). This press release does not constitute and cannot be considered as constituting an offer to the public, an offer to purchase or to subscribe or as intended to solicit the interest of the public with a view to a transaction by offering to the public.
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Full and original press release in PDF format:
https://www.actusnews.com/news/77330-cabasse-group_cp_post-agm-21112021_fr_vdef.pdf
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