- Reverse stock split of 1 new share for 10 existing shares
- Reverse stock split start date: July 1, 2019
- Reverse stock split effective date (delisting of existing shares and listing of new
shares): August 1, 2019
The Claranova group is pleased to announce the implementation terms of the reverse stock split of 1 new share for 10 existing shares, unanimously approved by the Company’s shareholders at the Extraordinary General Shareholders’ Meeting of June 11, 2019. The par value of the Claranova share will be increased in proportion to the reverse stock split parity from €0.10 to €1.
Implementation of the reverse stock split will commence on July 1, 2019, in accordance with the terms of the reverse stock split notice published in the French Journal of Mandatory Legal Announcements (BALO) on June 14, 2019. The existing Claranova shares (ISIN code: FR0004026714) will be delisted from the Euronext market on July 31, 2019 and will be replaced by the new Claranova shares(ISIN code: FR0013426004) from August 1, 2019. The ticker symbol (CLA) will remain unchanged.
Between now and July 31, 2019:
- Shareholders holding a total number of existing shares representing an exact multiple of ten are not required to take any action or carry out any formalities. The reverse split of their shares will be completed automatically on August 1, 2019.
- Shareholders not holding a total number of shares representing an exact multiple of ten will have the possibility, up to July 31, 2019, to buy or sell old fractional shares directly on the market, in order to attain a multiple of ten. Where shareholders have not attained a total number of shares representing an exact multiple of ten by this date, their financial intermediary will automatically sell the fractional shares on the market and pay them the corresponding proceeds within 30 days of August 1, 2019.
In accordance with Articles L. 225-149-1 and R. 225-133 of the French Commercial Code (Code de commerce), exercise of all of the Company’s share subscription warrants, options and ORNANE convertible bonds will be suspended from July 20 to July 31, 2019, inclusive. This suspension will be lifted automatically at the end of this period. Further information on the suspension can be found in the notice published in the French Journal of Mandatory Legal Announcements (BALO) on June 14, 2019, available in French only on the Claranova website.
For more information on the reverse stock split, shareholders are invited to consult the reverse stock split notice published in the French Journal of Mandatory Legal Announcements (BALO) on June 14, 2019, available in French only on the Company’s website.
Shareholders can also obtain additional explanations on this reverse stock split in the section “Press Releases” of the “Investors” tab on Claranova’s website. Claranova’s Investor Relations team is also available to answer any additional questions (by email to email@example.com).
All transactions concerning the reverse stock split will be performed with CIC – Centralization and Domiciliation, 6 avenue de Provence, 75009 Paris, which has been appointed as the agent for centralizing the reverse stock split transactions.