The Vergnet Group decides on a capital reduction motivated by losses by reducing the nominal value of the company’s share and modifies the future consolidation parity
Elms, August 2, 2023
The Vergnet Group announces that the Board of Directors of Vergnet SA (“the Company”) decided during its meeting of July 31, 2023, making use of the delegation granted to it by the General Meeting of Shareholders, to a reduction in the share capital by reducing the par value of its shares.
The par value of each Company share is thus reduced from 0.003 euro to 0.0004 euro and the share capital to 48,869.67 euros.
This purely technical operation has no impact on the market value of the Company’s shares, nor on the number of shares in circulation. Thus, following this operation, the share capital of the Company remains composed of 122,174,184 ordinary shares.
Thus, with this new nominal value of €0.0004, the business combination announced on July 27, 2023 has its conditions modified as follows:
Number of shares subject to consolidation
: fifty-one million five hundred and ninety-one thousand one hundred and seventy-three (51,591,173) shares with a par value of four thousandths of a euro (€0.0004) each, it being specified that (i) the number of shares making up the share capital of the Company on the date of this day is one hundred and twenty-two million one hundred and seventy-four thousand one hundred and eighty-four (122,174,184) ordinary shares taking into account the transaction subject of this communicated and (ii) this number of shares subject to the consolidation will be increased, where applicable, by the shares issued following the exercise of the rights of the beneficiaries of any securities giving access to the capital of the Company or by the shares that would be issued from of the notice of suspension and before the effective date of the suspension. In this case, the final number of shares subject to consolidation will be determined by the Board of Directors, with the option of sub-delegation, before the start of the consolidation operations, and will be published by the Company.
Grouping parity
: two thousand five hundred (2,500) old shares with a nominal value of four thousandths of a euro (€0.0004) for one (1) new share with a nominal value of one euro (€1).
Number of new shares to come from the business combination
: twenty thousand six hundred and thirty-six (20,636) shares with a par value of one euro (€1) each, it being specified that (i) the number of shares making up the share capital of the Company on the date of this day is 122,174,184 ordinary shares taking into account the operation covered by this press release, i.e. a number of new shares resulting from the consolidation of forty-eight thousand eight hundred and sixty-nine (48,869) shares with a par value of one euro (€1) each and (ii) the number of shares resulting from the merger will be increased, where applicable, by the shares issued following the exercise of the rights of the beneficiaries of all securities giving access to the capital of the Company , or shares that would be issued as of the notice of suspension and before the effective date of the suspension. In this case, the final number of shares resulting from the consolidation will be determined by the Board of Directors, with the option of sub-delegation, before the start of the consolidation operations, and will be published by the Company.
Fractional securities
: shareholders who do not have a number of old shares corresponding to a whole number of new shares will have to make their own personal business of buying or selling old shares forming odd lots, in order to obtain a number of multiple share of two thousand five hundred (2,500), until September 11, 2023. After the aforementioned period, the new shares which could not be allocated individually and corresponding to fractional rights will be sold on the Stock Exchange by the financial intermediaries and the sums from the sale will be distributed in proportion to the fractional rights of the holders of these rights within thirty (30) days from September 12, 2023.
The schedule of operations remains unchanged.
About Vergnet SA
The Vergnet Group, “a virtuous creator of energy independence since 1989”, has never ceased since its inception to enable its customers to control their energy production, despite difficult or even extreme geographical and climatic conditions.
An expert in the production of renewable energies (wind, solar, hybrid) on non-interconnected networks and armed with unique technologies, the Group has developed the Hybrid Wizard, a hybrid system controlling in real time the share of renewable energies injected into the electrical network by guaranteeing operational safety and security for island or isolated networks.
The Group has already installed 1,000 wind turbines and 402 MW of all energies combined. It is present in more than 50 countries and has 200 employees in 11 locations.
Vergnet has been listed on Euronext Growth since June 12, 2007.
CONTACT
Vergnet Group
Vincent de Mauny
General director
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Full and original press release in PDF format:
https://www.actusnews.com/news/81376-2023-08-02_nominal-0.0004-euro-regroupement.vclean.pdf
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