Bordeaux, Boston, May 10, 2017 – 18: 00 – IMPLANET (Euronext : IMPL, FR0010458729, eligible PEA-PME), a medical technology company specializing in spinal implants and implants of knee surgeries, announces that the ordinary general assembly of shareholders of the Company, in accordance with the provisions of article L. 421-14 V of the French monetary and financial Code, approved may 5, 2017 the transfer of listing of the shares Implanet SA since the regulated market of Euronext in Paris (compartment C) to the multilateral trading facility Alternext Paris.
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This transfer allows Implanet to be listed on a market that is more appropriate to the size of the group, of its market capitalization and offering a regulatory framework better adapted. It should simplify the administrative burdens imposed on Implanet and significantly reduce the costs related to the listing, while allowing it to benefit from the attractiveness of the financial markets.
Subject to the approval of Euronext Paris SA, the listing of the company on Alternext will take place in the framework of an accelerated procedure for the admission to trading of the existing shares, without the issuance of new shares.
In terms of protection of minority shareholders (non-exhaustive list) :
the protection of minority shareholders, in the event of a change of control, will be provided on Alternext Paris by the mechanism of the public offer in the event of a crossing, direct or indirect, alone or in concert, the threshold of 50% of the capital or voting rights ;
in addition, companies listed on Alternext Paris do not have to communicate to the market, in terms of evolution of the shareholding, that the surpassing of thresholds (upward or downward), 50% and 95% of the capital or voting rights ;
however, in accordance with the legal provisions, Implanet will remain subject, for a period of 3 years from the delisting from the regulated market of Euronext in Paris, the regime for public offers mandatory and the maintenance of information requirements relating to crossings of thresholds and declarations of intent as applicable to companies listed on the regulated market of Euronext in Paris.
In the matter of periodic financial information, of the obligations lighter in terms of financial information, among others, and without claiming to be exhaustive :
extension of deadlines for publication of interim financial statements, including a balance sheet, an income statement and commentary on the period, to 4 months following the closing of the semester ;
exemption to establish a president’s report on the internal control and corporate governance ;
free choices of accounting (French and IFRS) for the preparation of the consolidated financial statements. However, since the accounts are now established according to the IFRS accounting standards and a goal of transparency with its investors and shareholders, the company Implanet has chosen to maintain the application of the IFRS standards.
Implanet intends to continue to publish quarterly its sales in and bring to the attention of the public any information likely to have an impact on the stock price.
Indicative timetable for the transfer
March 27, 2017 Decision of the board of directors to submit to the ordinary and extraordinary general meeting the proposed transfer of listing of the shares Implanet SA on Alternext
April 3, 2017 Information to the public on the draft application for admission (1 press release)
May 5, 2017 Holding of the Ordinary General Assembly speaking in particular about the transfer to Alternext Paris
May 9, 2017 Information regarding the final decision of transfer (2nd press release)
July 10, 2017 Decision on admission of shares on Alternext Paris by Euronext Paris SA at the earliest and delisting of the shares of the regulated market of Euronext, and first quotation on Alternext Paris
Next press release : revenue for Q2 2017 July 18, 2017
About IMPLANET
Founded in 2007, IMPLANET is a medical technology company manufacturer of implants, top of the range for orthopaedic surgery. Its flagship product, the implant of the latest generation JAZZ, is intended to improve the treatment of spinal disorders that require spinal fusion. The platform of orthopedics with proven IMPLANET, based on a perfect control of the traceability of its products, gives it a proven ability to enhance the value of this innovation. Protected by 4 families of international patents, JAZZ has obtained regulatory approval 510(k) of the Food and Drug Administration (FDA) in the United States, the CE marking and the authorization of Anvisa in Brazil. IMPLANET employs 48 staff and has a turnover of € 7.8 million in 2016. More information on www.implanet.com. Based near Bordeaux in France, IMPLANET has been open since 2013 a subsidiary in the United States (Boston). IMPLANET is listed on compartment C of the regulated market of Euronext in Paris.
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