- Unanimous positive reasoned opinion of Vilmorin & Cie's board members, who deem the Offer to be in the best interests of the Company, its Shareholders and its employees
- The Board of Directors recommends that shareholders tender their shares to the Offer
The Board of Directors of Vilmorin & Cie ("Vilmorin" or the "Company") met today to give a reasoned opinion, in accordance with applicable regulations, on the proposed simplified public tender offer for the Company's shares (the "Offer") initiated by Limagrain Participations1, at a price of
After taking into consideration, in particular, the Initiator's intentions described in the draft Offer document, the deliberations and recommendations of the ad hoc committee formed by the Initiator on
In his report, the independent expert highlighted that the Offer price represents a premium of +8.1% over the medium value obtained using the discounted cash flow approach, the method considered the most appropriate by the independent expert.
As a result, the Board of Directors recommends that
The Board of Directors emphasizes that the Offer enables shareholders to obtain immediate liquidity at a significant premium in view of the recent stock market performance of
- 45.4% premium to the closing price on
April 27 th, 2023, prior to the announcement of the Offer; - 36.5% premium to the volume-weighted average share price over the last 60 trading days.
The Board of Directors' reasoned opinion will be included in full in the draft Response Note filed with the Autorité des marchés financiers (AMF) on
The draft Offer, the draft Information Note and the draft Response Note remain subject to the review of the AMF, which will assess their compliance with the applicable legal and regulatory provisions. Subject to the AMF's compliance decision, the Offer is expected to open at the end of June and close by mid-July.
For any additional information
Anthony CARVALHO
Chief Financial Officer
Édouard ROCHE
Head of Financial Communication and Investor Relations
E-mail : contact@diffusion.vilmorincie.com
www.vilmorincie.com
The 4th largest seed company in the world, pure play in its sector, Vilmorin & Cie creates, produces, and distributes vegetable and field seeds with high added value, contributingto meeting global food requirements in a context of accelerating climatic, environmental, and demographic challenges.
True to its long-term vision of development,
Disclaimer
This press release does not constitute an offer to purchase any securities. The Offer will only be made in accordance with the Offer documentation, which will contain the complete terms and conditions of the Offer. The Offer documentation will be subject to review by the AMF and the Offer will only be opened after the AMF has issued a compliance decision. Any decision regarding the Offer must be based solely on the information contained in the Offer documentation. This press release has been prepared for information purposes only. It does not constitute an offer to the public. The distribution of this press release, the Offer and the acceptance thereof may be subject to specific regulations or restrictions in certain countries. The Offer is not directed to any person subject to such restrictions, either directly or indirectly, and may not be accepted from any jurisdiction where the Offer would be subject to such restrictions. This press release is not intended for distribution in such countries. Consequently, persons in possession of this press release are required to inform themselves about any local restrictions that may apply and to comply with them. Vilmorin & Cie declines all responsibility for any violation of these restrictions by any person. Pursuant to Commission Implementing Regulation (EU) 2016/1055 of
1 Entity entirely controlled by Société Coopérative Agricole Limagrain, holding in total, with other
Attachment
- Press Release Vilmorin & Cie_Positive reasoned opinion_English_vd
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