(Boursier.com) — WIZIBOAT and the Group Beneteau through its subsidiary BOATING SOLUTIONS, announce that they have signed an exclusive memorandum of understanding for the takeover of WIZIBOAT by BOATING SOLUTIONS up to 74%. Created in 2017, WIZIBOAT has experienced rapid development, however hampered in recent months by a lack of financial resources.
The turnover for the 2022-2023 season is estimated at 0.9 ME, up by around 30%, for an estimated net loss for the financial year of around -0.5 ME .
This merger is part of the development of the BOATING SOLUTIONS offer, already present in the field of Boat Clubs, rental, Digital and Financing.
TERMS OF THE ENVISAGED TRANSACTION
The memorandum of understanding signed on June 24, 2023 provides for the following operations:
Acquisition by BOATING SOLUTIONS of 45.6% of the current capital at a price of 1.641 euros per share from Prodaly, an entity majority-owned by Mr. Christian Constantin, current Chairman of the Board of Directors, who will resign from his position at the end of the ‘operation.
Capital increase reserved for BOATING SOLUTIONS in the amount of €1 million, at a price of €1.641 per share.
These operations will only be carried out if the General Meeting, which will take place on August 4, 2023, approves the resolutions authorizing the capital increase with cancellation of the preferential subscription right reserved for BOATING SOLUTIONS. It will also have to ratify the
composition of Wiziboat’s board of directors, divided between 2 seats for BOATING SOLUTIONS and 1 for Pierre-Olivier Bidault Sire who will remain Managing Director of WIZIBOAT.
The WIZIBOAT share price has been suspended and will resume on July 3, 2023.
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