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  AVENTADOR (ex ALGREEN) company press release from 25/11/2024 - Suspension of Aventador trading: an arbitrary and unjustified decision

  25/11/2024 - 16:45

Suspension of Aventador trading: an arbitrary and unjustified decision


Suspension of Aventador trading: an arbitrary and unjustified decision

Paris, November 25, 2024 at 4:45 p.m.

AVENTADOR (Euronext Growth Paris, ticker : ALAVE- ISIN : FR001400IV58), a holding company listed on the Euronext Growth market, denounces the decision taken by Euronext to suspend the listing of its shares as of November 13, 2024 due to a reverse acquisition. This suspension was decided without notice, and Aventador's management considers this measure to be arbitrary and unjustified.

A decision in contradiction with the regulations

Under the current rules, a reverse acquisition must meet two cumulative criteria:

1. Calculation method: A reverse acquisition is recognized if a transaction represents a change greater than 75% in relation to the total assets, revenues or profits and losses of the issuer.

2. Indicators of fundamental change in the business: This change is proven if the strategy, the nature of the business, or the stakeholders of the issuer are radically modified.

To date, Aventador has retained its three subsidiaries within its scope, the sale of Uni Fish Food and the liquidations of Naka and Toques Blanches du Monde will not take effect for several months. No changes representing 75% or more of the indicators have taken place, and the company's scope of activity therefore remains unchanged. The analysis of these criteria demonstrates that the suspension of trading decided by Euronext is unfounded.

Management commitment to transparency and stability

The management team of Aventador, which works without remuneration to straighten out the company following the dysfunctions of the former management, is particularly surprised by this sudden decision of Euronext. The management is actively acting to ensure the sustainability of the company and protect the assets of its shareholders, in particular smaller shareholders, but also of UFF employees as part of the sale plan.

The management has communicated transparently about the company's situation and the strategy envisaged to rescue Aventador. There was no reason to suspend the listing while the management has time to comply with the regulations when the time comes.

Measures envisaged to restore the listing

Aventador will take all necessary measures, in collaboration with its legal advisors, to resolve this situation. If Euronext persists in its decision, the management will consider a listing on a foreign market to ensure the sustainability of the activities and preserve the interests of the shareholders.

About AVENTADOR

Aventador is a holding company specializing in the management, development and financing of profitable companies. With an approach focused on sustainable growth and supporting companies with a clear strategy, Aventador actively supports the development of the companies in its portfolio to increase their value, in particular through various financial, accounting, tax, legal and IT optimization processes.

Contact Presse et Investisseurs

AELIUM – Finance & Communication: aventador@aelium.fr

Tel : +33 811 045 921

AVENTADOR (Euronext Growth Paris, Ticker : ALAVE, ISIN : FR001400IV58)

www.aventadorholding.com


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  Original Source: AVENTADOR (ex ALGREEN)