Launch of the reverse stock split of Soitec shares Reverse stock split involving the exchange of 20 old shares with par value of €0.10 for 1 new share with par value of €2.00 Start date of the reverse stock split operation: 9 January 2017 ...
Launch of the reverse stock split of Soitec shares
- Reverse stock split involving the exchange of 20 old shares with par value of €0.10 for 1 new share with par value of €2.00
- Start date of the reverse stock split operation: 9 January 2017
- Reverse stock split (delisting of old shares and listing of new shares) due to take effect on 8 February 2017
Bernin (Grenoble), France, 9 January 2017 - Soitec (Euronext Paris), a world leader in generating and manufacturing revolutionary semiconductor materials, today announces the launch of the reverse stock split approved by its Combined General Shareholders' Meeting on 25 July 2016.
Operations involved in the reverse stock split are starting today in accordance with the notice published in the Bulletin des Annonces Légales Obligatoires on 23 December 2016.
The reverse stock split forms part of Soitec's desire to support its renewed profitable growth momentum, having refocused on its core electronics business.
Terms and conditions of the reverse stock split
On 8 February 2017, the date on which the reverse stock split will take effect, shareholders will automatically receive from their financial intermediaries one new share with par value of €2.00 conferring immediate rights in exchange for every 20 existing shares with par value of €0.10.
On the same date, old shares listed under ISIN FR0004025062 will be delisted from Euronext and new consolidated shares will be listed for trading on Euronext under ISIN FR0013227113.
Shareholders with a number of old shares that is an exact multiple of 20 will not have to carry out any formalities, since their old shares will automatically be consolidated into new shares on 8 February 2017.
Until 7 February 2017, shareholders with a number of shares that is not an exact multiple of 20 may personally buy or sell Soitec shares directly in the market in order to obtain a multiple of 20. After that date, for shareholders that have not obtained a multiple of 20 old shares, financial intermediaries will automatically sell their odd lots in the market and provide them with the corresponding indemnification within 30 days of 8 February 2017.
Additional information about the reverse stock split is available in the "Investor materials" section in the tab "Company / Investors" of Soitec's website (reachable at the following link: https://www.soitec.com/en/investors/investors-material).
Q3'17 sales are due to be published on 25 January, 2017 after the market close.
Soitec (Euronext, Tech 40 Paris) is a world leader in designing and manufacturing innovative semiconductor materials. The company uses its unique technologies and semiconductor expertise to serve the electronics markets. With more than 3,000 patents worldwide, Soitec's strategy is based on disruptive innovation to answer its customers' needs for high performance, energy efficiency and cost competitiveness. Soitec has manufacturing facilities, R&D centers and offices in Europe, the U.S. and Asia.
For more information, please visit www.soitec.com and follow us on Twitter: @Soitec_EN
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Source: SOITEC via Globenewswire
Source(s) : SOITEC
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