The Combined General Meeting of Groupe Gorgé shareholders will be convened on December?14, 2021 to approve a distribution in kind of Prodways Group shares listed on Euronext Paris.
The Board of Directors of Groupe Gorgé proposes to its shareholders, at the General Meeting to be held on December 14, 2021, to approve an exceptional distribution in kind in the form of Prodways Group shares at the rate of 3 Prodways Group shares listed on Euronext in Paris for every 2 Groupe Gorgé shares held.
The purpose of this transaction is to split the 3D printing business in order to increase Groupe Gorgé's visibility, improve its stock market profile and thus aim for a better valuation of the company, which has long been penalized by the diversity of its activities. The transaction will have no effect on the equity stake of Prodways Group shareholders other than Groupe Gorgé. The latter will benefit directly from a new liquidity and potentially from an increase in the value of Groupe Gorgé.
Prodways Group's stock market profile would also be strengthened with a significant increase in free float. Prodways Group would thus benefit from improved liquidity and a greater capacity to raise capital to seize growth opportunities and forge development partnerships in France and abroad.
This distribution in kind of Prodways Group shares would be paid on December 22, 2021. Following this transaction, Groupe Gorgé is expected to retain approximately 5.9% of the capital.
The Board of Directors reserves the right to distribute an additional interim dividend for 2021 in the form of Prodways Group shares. This would be the case (i) if the Prodways Group share price were to change in such a way that, in light of the amount of distributable reserves and premiums, the parity of 3 Prodways Group shares for 2 Groupe Gorgé shares would have to be adjusted, and/or (ii) if it were decided that Groupe Gorgé would retain less than 5.9% of the share capital following the transaction.
Any decision to distribute an interim dividend would be the subject of a new press release.
The distribution is expected to take place on 22 December 2021. The coupon would be detached on December 20, 2021.
The terms and conditions of the distribution in kind, its impact on consolidated shareholders' equity and the tax treatment of the distribution are described in the Board's report to the Meeting, which is available at the following address: www.groupe-gorge.com ; heading Finance / General Meeting.
The draft resolutions to be submitted to the General Meeting of December 14, 2021 are also available on the company's website (www.groupe-gorge.com ; section Finance / General Meeting).
About Groupe Gorgé
Groupe Gorgé is a high-tech industrial group driven by a strong entrepreneurial culture. The Group operates in the fields of 3D printing, drones, engineering and protection systems and employs around 1,850 people in seven countries. The Group reported revenue of €231 million in 2020.
More information is available at www.groupe-gorge.com
Groupe Gorgé is listed on Euronext Paris Compartment B (GOE).
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Groupe Gorgé press releases may contain forward-looking statements regarding the Group's targets. Forward-looking statements reflect current expectations about Groupe Gorgé. Such forward-looking statements and targets depend on known and unknown risks, uncertainties and other factors that could cause actual results, performance or events to differ materially from those anticipated herein. Some of these risk factors are explained in detail in the Universal Registration Document, which may be downloaded from the Groupe Gorgé website (www.groupe-gorge.com). This list of risks, uncertainties and other factors is not limitative. This press release and the information it contains do not constitute an offer to sell or subscribe, or a solicitation to purchase or subscribe shares in Groupe Gorgé or its listed subsidiaries in any country whatsoever