STRENGTHENING GOVERNANCE
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The Board of Directors of May 18, 2017 appointed Mr. Robert Bouchard’s managing Director and Chief Operating Officer of the group.
Jean-Louis Bouchard, chairman, President and Chief Executive officer of Econocom, says : “I am happy that my son Robert, who already occupied the functions of President of Digital Dimension, executive Vice-President of the Board of directors, and Chairman of the Audit Committee, might lead to a new step in the construction of Econocom exciting. Our group is solid, we just strengthen of more than 180 million euros of our own funds due to the early conversion of the convertible bond, our prospects are good and we will announce in September our new strategic plan, “e as in excellence,” which will be resolutely oriented towards operational excellence, and a strong improvement in profitability. The group, with a General Direction strengthened, and is thus ready to continue his adventure. ”
In order to focus on its new operational functions, Mr. Robert Bouchard will leave the Chairmanship of the Audit Committee of Econocom Group. He will be replaced by Mr. Jean-Philippe Roesch, non-executive Director, who knows perfectly the group to have been in particular the functions of Financial Director, then General Manager of the group in charge of support functions.
CAPITAL TRANSACTIONS
1. Split of the shares of Econocom Group in two
The Extraordinary General Meeting of shareholders on may 16, 2017 approved the division by two of the shares Econocom Group (the” split action “). This operation is for the purpose of enhancing the accessibility and liquidity of the security.
From the 2nd of June 2017, each shareholder of Econocom Group will receive in exchange for each share Econocom Group that he owns two (2) shares Econocom Group news. As of this date, the new shares will be divided will be listed on the regulated market of Euronext Brussels under a new ISIN code and the existing shares, under ISIN code BE0974266950, will no longer be listed or tradable. The participation of existing shareholders in the capital of Econocom Group shall not be diluted and they do not have any process to be done in the framework of this operation.
The capital of Econocom Group will be represented by 245.140.430 shares after the division operation against 122.570.215 shares currently.
2. Refund of premium
The same Extraordinary General Meeting decided to issue a refund of the issue premium, to be assimilated to the paid-up capital, in accordance with articles 612 and 613 of the companies Code, in the amount of 0.20 euro per share on the basis of the number of securities existing on the date of the Meeting.
The remuneration to shareholders rose 14% in one year and 33% in two years.
The detachment of a coupon giving right to a refund will occur at the end of a period of two months following the publication of the decision in the Belgian official gazette. The payment will take place after the effective date of the split of the action and the amount of the refund of issue premium will amount therefore to € 0.10 per share after split, including the own shares held by the Company.
The final schedule of the refund of premium will be issued later.
3. Approval of a plan of share subscription options
The Board of Directors of may 18, 2017 approved both the principle and the principal terms of a plan of options to subscribe for new shares Econocom Group for a maximum of 1,000,000 options (about 2,000,000, after taking into account the split of the share) or 0.82% of the share capital. The beneficiaries will mainly be the employees of the Company or any of its direct or indirect subsidiaries. The options will be attributed by the remuneration Committee until 31 December 2019.
The objective of the plan is to keep in the duration of key talent for the group.
4. Convening of an EGM on the cancellation of 3 million treasury shares
Finally, the Board of Directors of may 18, 2017 has decided to convene an Extraordinary General Meeting with the agenda the cancellation of 3,000,000 of its own shares (or 6.000.000 shares after the split of the action) on the 4.184.082 currently held.
This cancellation will occur before the end of the year 2017 allows you to reluer the shareholding of existing and more than offset the potential dilution related to the stock options plan mentioned above.
Next appointment : publication of half-yearly results 2017 July 27, 2017, after close of Trading.
About Econocom
Econocom designs, finances and supports the transformation of digital businesses. With 10,000 employees in 19 countries and a turnover in excess of € 2.5 billion, Econocom has all of the capabilities needed for the success of major digital projects?: board, procurement and administrative management of digital assets, services, infrastructure, applications and business solutions, financing of projects. Econocom has adopted the European Company statute. Listed on Euronext Brussels since 1986, the action Econocom Group is part of the clues Bel Mid, and the Family Business.
For more information : www.econocom.com
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