Soitec reverse stock split has taken effect Bernin (Grenoble), France, 8 February 2017 - Soitec (Euronext Paris), a world leader in generating and manufacturing revolutionary semiconductor materials, today announces that the reverse split of its ...
Soitec reverse stock split has taken effect
Bernin (Grenoble), France, 8 February 2017 - Soitec (Euronext Paris), a world leader in generating and manufacturing revolutionary semiconductor materials, today announces that the reverse split of its shares has taken effect, as approved by its Combined General Shareholders' Meeting held on 25 July 2016.
This reverse stock split involved the exchange of 20 old shares with par value of € 0.10 each for 1 new share with par value of € 2.00.
Terms and conditions of this reverse stock split are described in the notice published in the Bulletin des Annonces Légales Obligatoires on 23 December 2016 and in the press release dated 9 January 2017 (available on the Company's website at the following link : https://www.soitec.com/en/investors).
Share capital of the Company amounting to € 60,623,020 is now divided into 30,311,510 ordinary shares of € 2.00 par value each, including 5,572 self-owned shares.
Today, first listing day under ISIN FR0013227113, the market price of the new share (mnémonic "SOI") was € 38.00 when Euronext Paris market opened.
The old shares listed under ISIN FR0004025062 have been delisted.
In accordance with articles L. 228-6-1 and R. 228-12 of the French Commercial Code, the new shares that may not have been individually allotted and corresponding to the rights attached to odd lots will be sold on the market by the financial intermediaries and the proceeds of such global sale shall be proportionally allotted to the rights attached to odd lots held by their owners. The latter shall then be directly indemnified by their financial intermediaries within 30 days of this 8th day of February 2017.
Soitec confirms that its new shares are eligible for the long-only Deferred Settlement Service (DSS) (also known as "Service de Règlement Différé Long Seulement" in French language), and for the PEA-PME plan governed by the French implementing decree no. 2014-283 of 4 March 2014.
The Company reminds that the new share attribution ratio of the bonds convertible and/or exchangeable into new or existing shares (also known as "OCEANEs" in French language) issued on 18 September 2013 and due on 18 September 2018 (ISIN FR0011566793, mnémonic « YSOIA ») is 0,066 share for 1 OCEANE.
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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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: SOITEC via Globenewswire
Source(s) : SOITEC
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 ...
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