COM1404ENFrance's securities regulator, Autorité des marchés financiers ("AMF") announced on April 12, 2016 that Fimalac's share buyback offer ("the Offer") complied with French securities laws.
The Offer will run for 20 trading days, from April 15 to the close of trading on May 12, 2016.
Fimalac is offering to buy back up to 1,700,000 Fimalac shares, representing 6.3% of the capital. The Offer Price is €101 per share (including the 2015 dividend), payable in cash. Fimalac's Board of Directors unanimously approved the Offer and recommends that shareholders tender their shares to the Offer. The shares tendered to the Offer will be canceled.
The Offer Price of €101 represents a premium of 24.7% on the closing Fimalac share price on March 14, 2016 (€81) - the date the proposed Offer was announced - and premiums of 28.8% and 26.7% respectively on the volume-weighted average share prices for the previous three months (€78.41) and six months (€79.70).
For shareholders, this Offer represents an opportunity to cash in all or part of their investment, depending on their own investment strategy regarding Fimalac shares. It reflects the Board's desire to maintain an immediate liquidity for the Company's shares in the interests of minority shareholders and to distribute, on an exceptional basis, part of the capital gains realized by the Group during 2015, Fimalac's majority shareholder having indicated he does not intend to take part at the Offer. Fimalac will remain listed on Euronext Paris and no squeeze-out procedure is planned.
The Offer information memorandum prepared by Fimalac, which received from the AMF on April 12 visa no. 16-133, and legal, financial, accounting and other information about Fimalac, are available on the websites (in French) of the AMF (www.amf-france.org) and Fimalac (www.fimalac.com). They may also be obtained on request from:
This press release was prepared for informational purpose only. It is not an offer to the public and it is not for distribution in any country other than France, except where such distribution is permitted by applicable law. The distribution of this press release, the Offer and its acceptance may be subject to specific regulations or restrictions in certain countries. The Offer is not made to persons subject to such restrictions, either directly or indirectly, and may not be accepted in any way from a country where the Offer would be subject to such restrictions. Consequently, persons in possession of this press release shall inquire about potential applicable local restrictions and comply with them. Fimalac disclaims all liability in the event of any breach of the applicable legal restrictions by any person.