Adjustment of the conversion ratio
The Claranova group informs its holders of Net Share-Settled Bonds Convertible into New Shares and/or Exchangeable for Existing Shares (ORNANE), that the conversion ratio was changed from 1 new share for 1 ORNANE, to 0.10 new shares for 1 ORNANE (ratio set with two decimal places in accordance with clause 15.6.B of the Terms and Conditions) from August 1, 2019, the effective date of the Claranova reverse stock split approved by the Extraordinary General Meeting of Shareholders of June 11, 2019.
This adjustment complies with the provisions of Article 15.7 of the ORNANE Terms and Conditions