Paragon ID (Euronext Paris - FR0011980077 - PID), the European leader for identification solutions, particularly for Transport & Smart Cities, e-ID, and Traceability & Brand Protection, has announced its plan to implement a reverse share split composing the share capital of the company, which will result in the exchange of 35 existing shares against 1 new share.
The purpose of this plan is to allow the newly formed company to have its share listed at a price that is more in line with market standards, and with the expectations of investors who are aware of the development of contactless markets. Additionally, it will reduce the volatility of the share price.
This transaction will have no impact on the value of the Paragon ID shares held by most shareholders. In practice, the shareholder's financial intermediary will automatically allocate each shareholder 1 new share for each bloc of 35 existing shares. For those shareholders having a total number of shares that is not an exact multiple of 35, it will be necessary to buy or sell a specific amount of shares to have their total of shares reach an exact multiple of 35.
- Total number of outstanding shares before reverse split:58 286 819 shares
- Nominal share value :1 €
- Share Price : 1,18 €
- Exchange parity : 35 existing shares against 1 new share
- Total number of outstanding shares after reverse split :1 665 337 shares
- Nominal share value after reverse split :35 €
- Share price after reverse split 1 :41,30 €
Paragon ID's shareholders are invited to an Extraordinary General Meeting on February 27, 2018, to deliberate on the proposed plan to implement the reverse split share and to delegate to the Board of Directors the powers to implement it.
Following the extraordinary shareholders' meeting, Paragon ID will communicate on the terms and conditions of the reverse split share, particularly with regard to its schedule, and the management of fractional shares.
Julien Zuccarelli, Paragon ID CEO, says:
« A few weeks after the adoption of our new corporate name, the plan for a reverse split share demonstrates the desire of Paragon Group, Paragon ID's largest shareholder, to write a new stock market history in line with the company's growth strategy. »
|2017/18 half year turnover||29 January 2018|
This date is given as an indication, it is likely to be modified if necessary.
The publication will take place after the close of the Euronext markets.
About Paragon ID
Paragon ID is a leader in identification solutions, in particular in the e-ID, Transport & Smart Cities and Traceability & Brand Protection sectors. Using the latest technologies such as RFID and NFC, Paragon ID provides smart cards, tickets, labels and tags to worldwide clients in diverse markets including public transport, manufacturing, logistics, gaming and retail.
Paragon ID employs more than 600 staff, with manufacturing sites in three continents (US, Europe and Asia), close to its customers.
Paragon ID is a part of Paragon Group, which is a leading provider of Identification and Customer Communications services, and has a total of more than €650 million turnover and close to 5,000 employees. Paragon Group combines generations of experience with the latest innovations in technology and smart data to enable responsive and meaningful interactions between organisations and their customers. For further information about Paragon Group, visit www.paragon-europe.com
Paragon ID is listed on Euronext Paris. Share name: Paragon ID - ISIN code: FR0011980077 - Mnemonic code: PID - Number of issued shares: 58 286 819
Plus d'informations sur Paragon-id.com
|Paragon ID |
Tél.: +33 (0)4 97 21 48 56
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Tél. : +33 (0)1 53 67 36 92
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Tél. : +33 (0)1 53 67 36 73
1 Based on the closing price on January 19, 2018