Equity
Servier calls squeeze-out right for shares of Hungary's Egis, delisting to ensue
The voluntary public purchase offer made by Arts et Techniques du Progrès for all registered ordinary voting shares of Egis was successfully closed on 12 November, Servier announced on Thursday.
Together with the 3,963,922 shares or 50.91% of Egis shares owned by Servier Group prior to the Offer, Servier Group now owns and controls 7,507,539 Shares that represents a 96.43% ownership interest in Egis. ATP has launched the squeeze-out process of the minority shareholders of Egis.
The shareholders are obliged to transfer their shares to the securities account held by the Tender Agent at KELER between November 18 and 29 (including both of these days). The purchase price is HUF 28,000 per share and will be paid until 6 December.
The costs of the paying credit institution will be borne by ATP, and the costs and fees of the receiving credit institution or investment service provider will be borne by the shareholder.
Any shares that were not transferred to ATP during the delivery period will be declared invalid by Egis that will issue new shares instead, which will be provided to ATP. Egis will publish an announcement regarding the payment of the purchase price for the shares having been declared invalid.
According to the regulations of the Budapest Stock Exchange (BSE) for listing, continued trading and disclosure, the exercise of the Call Option Right will result in an automatic delisting from the BSE of the Class A ordinary shares of Egis, without any further steps being required. The delisting will be completed following the invalidation of the shares pursuant to the above regulation of the Budapest bourse.
Together with the 3,963,922 shares or 50.91% of Egis shares owned by Servier Group prior to the Offer, Servier Group now owns and controls 7,507,539 Shares that represents a 96.43% ownership interest in Egis. ATP has launched the squeeze-out process of the minority shareholders of Egis.
The shareholders are obliged to transfer their shares to the securities account held by the Tender Agent at KELER between November 18 and 29 (including both of these days). The purchase price is HUF 28,000 per share and will be paid until 6 December.
The costs of the paying credit institution will be borne by ATP, and the costs and fees of the receiving credit institution or investment service provider will be borne by the shareholder.
Any shares that were not transferred to ATP during the delivery period will be declared invalid by Egis that will issue new shares instead, which will be provided to ATP. Egis will publish an announcement regarding the payment of the purchase price for the shares having been declared invalid.
According to the regulations of the Budapest Stock Exchange (BSE) for listing, continued trading and disclosure, the exercise of the Call Option Right will result in an automatic delisting from the BSE of the Class A ordinary shares of Egis, without any further steps being required. The delisting will be completed following the invalidation of the shares pursuant to the above regulation of the Budapest bourse.
