(CercleFinance.com) – Vergnet, a producer of renewable energies, announced yesterday evening the completion of the consolidation of its shares, on the basis of a new action against 4,000 old ones held.
The conclusion of this operation aims, according to the group, to reconnect with a stock market price more in line with market standards and investor expectations, while tending to reduce the volatility of the share.
Trading in the shares resulting from the combination began this morning to show a decline of 28% after just over an hour of trading.
Because the specialist in wind, solar and ‘hybrid’ technologies also announced Thursday evening that it had requested the drawing of a fourth tranche of OCABSA for an amount of some 1.5 million euros.
It is indeed a mode of financing resulting in a significant dilution of the shareholders and in many cases a strong downward pressure on the share price of the company concerned.
Vergnet – which has been listed on Euronext Growth since 2007 – has installed more than 900 wind turbines. The company, present in more than 40 countries, has 200 employees spread over 12 locations.
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