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  PRODWAYS company press release from 26/10/2021

  26/10/2021 - 18:00

Major changes in Prodways Group's shareholding structure


Paris, October 26, 2021, 6:00 PM

 

Groupe Gorgé today announces its plan to distribute in kind most of its shares in Prodways Group to its shareholders, i.e. 56.3% of the company's share capital. This proposal will be subject to approval of the shareholders of Groupe Gorgé in December 2021.

This operation would greatly improve the market profile of Prodways Group, whose free float would significantly increase from 34% to around 60%. The Gorgé family would remain the Group's first shareholder. Prodways Group would thus benefit from a better liquidity profile and an enhanced ability to raise capital to seize growth opportunities and forge development partnerships in France and abroad.

This operation thus completes the strengths on which Prodways Group can rely to achieve its ambitious growth objectives:

  • A supportive environment driven by Industry 4.0,
  • The solid performance of the Group's existing markets, such as dental
  • A revival of external growth with the acquisition of Créabis
  • Significant growth in profit, as from the first half of 2021

The recruitment of a new CEO for Prodways Group is underway and should be finalized by the end of the year. Raphaël Gorgé, the current CEO, will remain in his position until the arrival of the new manager. He would also retain his position as Chairman of the Board of Directors and would remain involved in Prodways Group's long-term strategy, having created and developed the company since 2013

 

Conference call

On Wednesday October 27, 2021, Raphaël Gorgé, Chairman and CEO and Loic Le Berre, Groupe Gorgé Chief Financial Officer, will answer analysts' questions during a conference call to be held in English from 10.00 am (Paris time).

To participate in the conference call, dial any of the following telephone numbers approximately ten minutes prior to the scheduled start time:

• France : +33 (0) 1 70 71 01 59 / Code d'accès : 29424665#.

• Royaume-Uni : +44 (0) 2 07 19 43 759 / Code d'accès : 29424665#.

• Allemagne : +49 (0) 6 92 22 22 54 29 / Code d'accès : 29424665#.

 

Appendices

 

Breakdown of Prodways Group share capital

€168 m market capitalization as of October 26, 2021

GROUPE GORGE : 56%

FREE FLOAT: 34%

FIMALAC: 7%

SAFRAN: 2%

BPI : 2%

 

Breakdown of Groupe Gorgé share capital

€266 m market capitalization as of October 26, 2021

 GORGE FAMILY : 44%

FREE FLOAT : 55%

TREASURY SHARES : 1%


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  Original Source: PRODWAYS