checkAd

    CORRECTION  587  0 Kommentare SOITEC : Soitec proposed two successive capital increases for a total consideration of €130 to €180 million, supported by CEA Investissement, NSIG and Bpifrance - Seite 3

    The amount of the rights issue, open to all shareholders, would be comprised between approximately 53.5 million Euros and 103.5 million Euros (including premium), with the final amount to be determined depending on opportunities available to Soitec to buy-back some of its OCEANE 2018 at attractive conditions from a shareholders' perspective.

    Following the rights issue, CEAI will have the ability to increase its shareholding interest in Soitec to up to 15%, through a reserved capital increase at the same conditions as the reserved capital increase described above.

    Conditions and timetable considerations

    The transactions have been approved on 9 February 2016 by the Board of Directors on the basis of an opinion of BM&A Advisory & Support, acting as independent expert, which will be made available to the shareholders ahead of the general meeting.

    Soitec, Bpifrance, NSIG and CEAI have signed on 10 February 2016 an agreement setting forth the main terms of the investment of Bpifrance, NSIG and CEAI, which will be detailed in a definitive documentation.

    It is anticipated that all the necessary resolutions for the two capital increases will be presented for the vote of an Ordinary and Extraordinary Shareholders' general meeting of Soitec to be convened upon signing of the definitive documentation in the coming weeks.  Soitec intends to carry out the reserved capital increase as soon as possible after such shareholders' general meeting and in any event before the end of the first semester.

    The subscription by the three investors to the reserved capital increase and to their pro-rata share of the right issue are subject to the vote of the necessary resolutions relating to the capital increases and the governance by the Ordinary and Extraordinary Shareholders' general meeting of Soitec, the approval of the necessary prospectuses and the obtaining of the other regulatory approvals, including the Chinese approvals necessary for the investment of NSIG.

    Governance

    In addition, resolutions will be presented at the Ordinary and Extraordinary Shareholders' meeting in order for:

    • Bpifrance to continue to have two board representatives,
    • CEAI (who already has one seat at the Board) to have an additional board representative,
    • NSIG to have two board representatives,
    • the board to include 4 independent members,

    so that after the completion of the capital increases, each investor would have a total of 2 board seats in a Board of Directors that would be composed of 13 members. The governance of Soitec will be adapted accordingly.

    Seite 3 von 6



    GlobeNewswire
    0 Follower
    Autor folgen
    Verfasst von GlobeNewswire
    CORRECTION SOITEC : Soitec proposed two successive capital increases for a total consideration of €130 to €180 million, supported by CEA Investissement, NSIG and Bpifrance - Seite 3 This is a correction of the announcement from 08:49 10.02.2016 CET. Reason for the correction: These materials may not be distributed in the United States, Canada, Australia or Japan. These materials are not an offer for purchase or sale of …