Madam,
Sir,
Dear shareholders,
It is with real enthusiasm that I address you with this first letter to shareholders. Since my arrival as CEO of Vergnet in July 2022, our Group has undertaken a significant transformation, marking the start of a new era marked by innovation, growth and sustainability.
The recent period has witnessed profound strategic changes, aimed at positioning the Vergneten group as a major player in the energy transition. In the space of a few months, we have implemented bold initiatives to respond to market challenges while capitalizing on emerging opportunities in Asia-Pacific, contracted new financing to support our development and strengthened our governance of new talents and expertise. .
Moreover, I am delighted to present to you in this letter the new Board of Directors who brings a diversity of valuable skills and experiences. Made up of distinguished professionals, this dynamic council is determined to guide the Vergnet group to new heights. We firmly believe that the combination of our strategic vision and the expertise of our board constitutes a winning formula for maximizing value for our shareholders.
Looking to the future, we are confident in our ability to seize the opportunities that present themselves to us. The Vergnet group is resolutely committed to playing a leading role in the transition to a more sustainable economy, and we will continue to invest in innovative technologies to respond to environmental challenges while working on our return to profitability. I would like to express my gratitude for your continued trust in the Vergnet group. Together we will write
a new chapter of success and excellence.
See you soon !
President – Managing Director
Vincent de Mauny
Governance reinforced with new skills:
Vergnet continued its structuring and carried out a transformation of its governance with the appointments, as Vice-Presidents of its Board of Directors, of Mr. François de Rugy, former Minister of State – Minister of Ecological and Inclusive Transition and former President of the National Assembly, and Mr. Christophe Debien, President of the Organization for Climate and the Circular Economy (OCCE).
Furthermore, Vergnet also strengthened its governance with five new directors. The Vergnet Board of Directors is now made up of 8 directors including 3 independent: Vincent de Mauny (President), François de Rugy (Vice-President – Independent), Christophe Debien (Vice-President), Marianne Tabudlo (Independent), Marie -Caroline Koralewski, Yves Pozzo Di Borgo (Independent), Jérôme Gacoin and Nicolas Bourillon (Independent). These new appointments will be submitted for shareholder approval at the next Vergnet General Meeting.
Strategic diversification of activities in Asia-Oceania:
The Group’s subsidiaries in Asia-Oceania have diversified their solar activities, which has enabled them to win numerous projects. Thus, the Vergnet Pacific subsidiary in New Caledonia notably won a project launched by SEM Sud Habitat for the installation and production of photovoltaic solar hot water (CP 11/27/24).
Likewise, Vergnet Pacific and Vergnet Wallis-et-Futuna have extended their activities to the public lighting and solar relamping sector (CP of 01/19/24). In parallel with these developments, Vergnet Wallis-et-Futuna also won a new contract for the deployment of photovoltaic installations on roofs (CP 6/12/23) and the Brazilian subsidiary, Vergnet do Brasil, strengthened its positions in the solar sector in Brazil with the signing of two new EPC contracts (CP 01/29/24). These advances demonstrate the Vergnet group’s commitment to innovation and ecological transition.
New funding to support developments:
Building on these recent developments and those to come, the Group has also diversified its sources of financing, notably with the establishment of a bond loan in the amount of €2 million issued by Vergnet Pacific and subscribed by the company Delta Alternative Management (CP 11/27/24). Furthermore, the Vergnet group has just put in place structuring financing to strengthen equity capital of up to €7.2 million to support its long-term developments. This financing in the form of bonds convertible into shares (without a Share Subscription Warrant) will allow the Group to complete its financing needs, by strengthening its equity, if necessary, in a controlled and opportunistic manner, when market conditions will be favorable (CP 02/20/24). The Group At the same time, Vergnet has started discussions concerning the establishment of additional non-dilutive financing which should quickly take over from this financing. The combination of these two types of financing will allow Vergnet to respond in a controlled and pragmatic manner to its needs as part of its restructuring.
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