PR Newswire/Les Echos/
PRESS RELEASE
5 MAY 2015
EXIT FROM FAAC SHARE CAPITAL
Faac and Somfy Groups have concluded that there are no joint development
projects and have therefore decided to undo the existing capital links
(Somfy's 34% holding in the share capital of Faac and Faac's 7.3% stake in
Somfy).
The transaction to unwind their respective interests will involve the exercise
of a statutory right of withdrawal and will thus result in the cancellation of
Faac's shares held by Somfy. As consideration for this, Somfy will receive the
571,400 Somfy shares held by Faac and a balancing cash adjustment of EUR50.7
million.
A portion of these shares will be cancelled in order to limit the percentage of
the treasury shares held by Somfy to 7.2% following the transfer.
The various arrangements related to the transaction should take effect within
the next few days and should therefore be included in the FINANCIAL statements
for the first half-year.
/ CORPORATE PROFILE
Somfy Group is the global leader in opening and closing automation for both
residential and commercial buildings.
/ CONTACTS
Somfy
Pierre Ribeiro: +33 4 50 40 48 49
Jean-Michel Jaud: +33 4 50 96 70 65
Shan
Fr-Xavier Dupont: +33 1 44 50 58 74
somfy‐group.com
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