Egide: Project to transfer the listing of Egide's shares on the Euronext Growth market in Paris
01 Junio 2022 - 11:00AM
Egide: Project to transfer the listing of Egide's shares on the
Euronext Growth market in Paris
Bollène, June 1st, 2022 – 6 :00 pm(CET)Press
ReleaseFor immediate release
Project to transfer the listing of
Egide's shareson the Euronext Growth market in
Paris
The Board of Directors of Egide
(Euronext Paris - FR0000072373 - GID), held on May 2nd, 2022, has
decided to submit to the shareholders, at a combined general
meeting to be held on June 30, 2022, the project of transferring
the listing of the company's shares to the Euronext Growth market
in Paris in the second half of 2022.
Reasons of the transferThis
transfer project aims to enable Egide to be listed on a market more
appropriate to the size of the company. The transfer to the
Euronext Growth market in Paris would simplify the company's
operations and reduce its listing costs, while allowing it to
continue to benefit from the advantages of a listing on a financial
market.
Transfer requirementsThe
proposed transfer must be approved by the company's shareholders at
a combined general meeting to be held on June 30, 2022, on first
notice. The approval of the market operator Euronext is also
required prior to the delisting of Egide's shares from the
regulated market of Euronext Paris and their listing on the
Euronext Growth market in Paris.Egide meets the eligibility
requirements for such a transfer to Euronext Growth, which include
a market capitalization of less than €1 billion and a free float of
over €2.5 million.
Terms of transferThis listing
by direct admission on Euronext Growth in Paris will be carried out
through an accelerated procedure of direct admission to trading of
Egide's existing shares, which will cease to be listed on Euronext
Paris at the same time. No new shares will be issued on this
transfer.Egide will be supported in its planned transfer to
Euronext Growth in Paris by Atout Capital, as Listing Sponsor.
Consequences of the transferIn
accordance with the regulations, the company wishes to inform its
shareholders of some of the possible consequences of such a
transfer.
In terms of periodic financial information:
- the annual accounts (corporate and
consolidated), the management report and the auditors' reports on
these accounts would be published no later than four months after
the end of the financial year.
- From the 2023 financial year
onwards, the half-yearly report, including the half-yearly
financial statements and the activity report, would be published
within 4 months after the end of the half-year (instead of the
3-month period in force on Euronext) and would no longer be subject
to a limited review by the statutory auditors.
- Egide has a free choice of
accounting standards (French standards or IFRS) for the preparation
of its consolidated accounts. Nevertheless, Egide has decided to
continue to prepare its accounts in accordance with IFRS.
Ongoing information:
- As Euronext Growth is an organized
multilateral trading facility, Egide would remain subject to the
applicable provisions on ongoing market disclosure and more
particularly to the provisions of the European Market Abuse
Regulation (EU No. 596/2014 of 16 April 2014, known as the "MAR
Regulation").
- Egide's managers (and related
persons) would continue to be subject to the obligation to report
transactions in the company's shares and debt securities.
In terms of protection of minority
shareholders:
- Egide would remain subject, for a
period of three years from the transfer to Euronext Growth in
Paris, to the regime of mandatory public offers and to the
maintenance of disclosure requirements relating to the crossing of
thresholds as applicable to companies listed on Euronext.
- Beyond this three-year period, the
mandatory public offer mechanism would apply, unless an exception
is made, if a shareholder, directly or indirectly, alone or in
concert, crosses the threshold of 50% of the capital or voting
rights. The thresholds for notifying the crossing of thresholds
would then also be limited to the crossing of 50% and 95%.
The company draws attention to the fact that the
transfer to Euronext Growth in Paris could result in a different
trend in the liquidity of the share than that observed on the
regulated market of Euronext.
Beyond this, Egide would ensure that it
maintains the quality of the relationships it has always sought to
establish with its shareholders and investors.
Provisional timetable for the transfer
(subject to approval by Euronext Paris)
May 2, 2022:
Decision of the
Board of Directors to submit to the Annual General Meeting the
proposed transfer to Euronext Growth Paris.June
1st,
2022:
Public information
on the proposed transfer of listing on Euronext Growth Paris (1st
press release).June 30,
2022:
Ordinary General
Meeting of Egide and holding of the Board of Directors to implement
the transfer of the shares to Euronext Growth. In the event of a
favorable vote by the Board of Directors, immediate information to
the public on the final decision to transfer the shares (2nd press
release). Application to delist the shares from Euronext Paris and
application for their direct listing on Euronext Growth
Paris.No earlier thanAugust
30, 2022: Effective transfer:
delisting of the shares from Euronext Paris and listing on Euronext
Growth Paris.
The mnemonic code of Egide's shares (GID) would
be modified on the transfer to Euronext Growth in Paris. The ISIN
code (FR0000072373) would remain unchanged.In addition, Egide
shares will remain eligible for PEA and PEA-PME after the transfer
to Euronext Growth in Paris.
About Egide -
www.egide-group.com
Egide is a group with an international
dimension. specialized in the manufacture of hermetic packages and
heat dissipation solutions for sensitive electronic components. It
operates in cutting edge markets with strong technology barriers to
entry in all critical industry segments (Thermal Imaging.
Optronics. High-Frequency. Power Units…). Egide is the only pure
player in this market niche with manufacturing bases in France and
the United States.
EGIDE is listed on Euronext
Paris™- Segment C - ISIN code:
FR0000072373Reuters: EGID.PA – Bloomberg:
GID
CONTACTSEGIDE –
Finance Department - Luc Ardon - +33 4 90 30 35 94 –
luc.ardon@fr.egide-group.com
FIN’EXTENSO – Press Relations -
Isabelle Aprile - +33 6 17 38 61 78 – i.aprile@finextenso.fr
- Egide-PR-project-transfert-euronext-growth-01062022-EN
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