SOMFY SA (EPA:SO) - Somfy / Division of the share par value

Transparency directive : regulatory news

24/05/2017 17:45

PRESS RELEASE
24 MAY 2017

                        DIVISION OF THE SHARE PAR VALUE

Today, the Management Board has decided to divide the Somfy share par value by
five and thereby reduce the said par value from EUR1.00 to EUR0.20, in
accordance with the resolution adopted by the Annual General Meeting of 17 May
2017(1).

Each current share will therefore be exchanged for five new shares, bearing the
same rights, on 3 July 2017, the date on which the new shares are delivered.

The Company share capital will thereby be raised from 7,400,000 to 37,000,000
shares with a par value of EUR0.20 each (ISIN code: FR0013199916).

The transaction should lead to an increase in the liquidity of the market for
the securities and help promote access to Somfy's share capital for new
shareholders. It will not result in any charges or formalities for existing
shareholders and will have no impact on their rights.

As soon as the transaction is complete, a double voting right will be allocated
to the registered shares resulting from the division of the existing shares
that already carry such a right.

A further consequence of the transaction is that the maximum purchase price
provided for as part of the current share buyback programme, authorised by the
Annual General Meeting of 17 May 2017, will be reduced from EUR600 to EUR120.

Shareholders' agenda

28 June 2017    Final day of trading of existing shares
29 June 2017    Delisting of existing shares - Listing of new shares
30 June 2017    Record date
3 July 2017     Delivery of new shares (payment date)

(1) On 7 September 2016, the Management Board stated that it had decided to
suspend the procedure to divide the share par value that was announced on 25
August, as a result of uncertainties concerning the tax neutrality of the
transaction. In the press release of 8 March 2017, it took note of the removal
of the uncertainties in question and thus restarted the said procedure.

The transaction will indeed be neutral as concerns French taxation, with the
exception of the very unusual case of shareholders that are legal entities, and
subject to corporation tax, whose securities have a fiscal cost price that is
lower than the book value cost price. Those shareholders are advised to consult
their adviser to assess the potential consequences of the said transaction.

CORPORATE PROFILE

Somfy Group is the global leader in opening and closing automation for both
residential and commercial buildings, and a key player in the connected home.

CONTACTS

Somfy:
Pierre Ribeiro: +33 (0)4 50 40 48 49 -
Emilie Mathelin: +33 (0)4 50 96 71 01

Shan:
François-Xavier Dupont: +33 (0)1 44 50 58 74 -
Diane de Brisis: +33 (0)1 47 03 47 36

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SOMFY SA (EPA:SO) - Somfy / Division of the share par value

Transparency directive : regulatory news

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