Texaf, S.A. (ENXTBR:TEXF) announced the spin-off Imbakin sàrl on May 13, 2014. As per terms, Texaf will transfer its 99.99% stake in Imbakin sàrl as well as €0.5 million to a new Belgian company, Imbakin Holding SA. The shareholders of Texaf will receive one share of Imbakin Holding, new company, for each share of Texaf. As of May 15, 2014, President of Brussels Commercial Tribunal by means of unilateral order on request ruled to suspend decisions taken by annual general meeting concerning partial split of Texaf and creation of Imbakin Holding. Shares in Imbakin Holding may not be created and given to Texaf shareholders while this is in effect.

As of March 9, 2015, Texaf decides spin-off of Imbakin where each shareholder of Texaf to be attributed one Imbakin Holding share for each share of Texaf. Shares of Imbakin will not be listed, reference price of Texaf will not be adjusted. Attribution of Texaf shares ex-date is March 12, 2015, record date is March 13, 2015, and payment date is expected to be March 16, 2015.