In This Article:
Decrease in the funds allocated to the liquidity contract with Kepler Cheuvreux
PARIS, December 24, 2024--(BUSINESS WIRE)--Regulatory News:
Claranova (Euronext Paris: FR0013426004 - CLA) announces the exchange of a portion of the shares held by Eric Gareau in its subsidiary Avanquest Software for Claranova shares1.
A non-dilutive transaction for shareholders
This transaction, approved by the Compensation Committee and the Board of Directors on December 20, 2024, was carried out through a cash payment equal to 35% of the value of the shares held by Eric Gareau in Avanquest Software (i.e. 386,862.44 euros) and a remittance of 560,945 existing Claranova shares for the balance.2
Even though it benefited from the necessary authorizations3, the Group decided not to proceed with the issue of new shares in order to avoid a dilutive effect for its shareholders. In consequence, the shares granted to Mr. Eric Gareau are taken from the 133,930 shares held in treasury and the 427,015 shares held under the liquidity contract managed by Kepler Cheuvreux, pursuant to resolution 18 approved by the Annual General Meeting of December 4, 2024.
This transaction demonstrates, once again, the commitment of the Group's governance and management to work together in the common interest, and to safeguard the creation of shareholder value4.
Decrease in the funds allocated to the liquidity contract with Kepler Cheuvreux
For the purpose of this transaction, Claranova reduced the number of shares allocated to the liquidity contract, entrusted to Kepler Cheuvreux on December 9, 2021, by a total of 427,015 shares.
The reduction in resources allocated to this liquidity contract was carried out in accordance with the provisions of Regulation (EU) No. 596/2014 on market abuse ("MAR Regulation"), Commission Delegated Regulation (EU) 2016/908 of February 26, 2016 supplementing the MAR Regulation with regulatory technical standards on the criteria, procedure and requirements for the introduction of an admitted market practice and the requirements for its maintenance, withdrawal or modification of its conditions of admission, Articles L. 22-10-62 et seq. of the French Commercial Code and AMF decision no. 2021-01 of June 22, 2021, applicable from July 1, 2021.
On that basis, on December 23, 2024, the liquidity account balances were as follows:
- Shares: 28,982 Claranova shares
- Cash: €127,996.48
In the coming months, the company plans to reestablish the liquidity account balance in order to support the orderly trading of its shares through a cash contribution, which will be the subject of a subsequent announcement.