ONE GLOBAL GROUP
Somfy operates in 59 countries and is the world leader in automatic controls for openings and closures in homes and buildings. It offers a range of motorized solutions and control points and is a key player in smart home systems.
12/03/2024
La Fondation Somfy
Organization
22/01/2018
Commitment
Finance
News & media
27/05/2020
Demerger of the two operating divisions
27/11/2014
Press release
27 November 2014
Demerger of the two operating divisions
The General Meeting held today adopted all the resolutions submitted for its approval. Consequently, it has ratified the demerger of the Group’s two operating divisions, Somfy Activities and Somfy Participations, by deciding to proceed with an exceptional distribution of reserves either in a cash payment or in shares in the Edify company1, at the discretion of shareholders.
Somfy's shareholders will therefore be offered the option of receiving one Edify share valued at €50, or a gross cash amount of €50, for each Somfy share held. They must indicate their preference to the paying agent, Société Générale, between the ex-dividend date of 2 December 2014 and close of business on 12 December 2014.
At the General Meeting, Somfy’s majority shareholder confirmed that it had decided to opt for payment in Edify shares.
The amount of €50 per Somfy share for the cash payment has been determined based on the valuation of Edify at €253 million, split between the 5,060,620 shares comprising the capital of said company.
The firm Valphi, acting as independent expert, found the financial terms of the transactions to be fair to Somfy shareholders, in a report dated 9 October 2014 and attached to the prospectus for admission of the Edify share to the official listing and trading on the Euro MTF organised market of the Luxembourg Stock Exchange, which can be downloaded from Somfy’s website (www.somfy.com).
Edify shares will start trading on the Luxembourg Stock Exchange on the day the distribution is made, scheduled for 19 December.
Contacts
Somfy: Pierre Ribeiro - Tel: +33 4 50 40 48 49 / Jean-Michel Jaud - Tel: +33 4 50 96 70 65
Shan: François-Xavier Dupont - Tel: +33 1 44 50 58 74
1 Edify was incorporated on 16 September 2014. All Somfy Participations assets were transferred to it, with the exception of securities in CIAT and FAAC.