Remarkable success of the ipo of Prodways Group, subsidiary of Groupe Gorgé, on Had…

50,7 M€ raised after full exercise of the Extension Clause of and before exercise of the over-allotment Option

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Very lively demand, an offer nearly 6 times sursouscrite
Share price fixed at the top of the indicative range of price 4.80 €
Negotiations began on may 12, 2017 in the form of promises of shares

PRODWAYS GROUP (hereinafter ” PRODWAYS “), a specialist in 3D printing industrial, is pleased by the remarkable success of its ipo and the admission to trading of its shares on the regulated market of Euronext Paris, compartment B (ISIN Code : FR0012613610 – Mnemonic : PWG).

The overall investment, intended primarily for institutional investors, and the offer to open price, mainly intended for individuals, have met a very large success.

In view of the strong demand observed, the Board of Directors of PRODWAYS, met this day, has fixed the ipo price at eur 4.80 per share, top of indicative range of prices. In addition, it was decided to exercise the entirety of the Extension Clause of, enabling PRODWAYS to raise 50,7 M€, to which must be added the Bonds Redeemable in Shares subscribed in the upstream of the operation, a total amount of 58.4 Million euros. The total amount of the waiver may be scope 66.0 M€ in case of full exercise of the over-allotment Option.

The price of ipo, the initial offering was sursouscrite almost 6 times. The offer to open price has also been strongly followed by individuals with a rate of over-subscription of more than 7 times.

In total, the number of shares issued following the full exercise of the Extension Clause of is 10 570 192. At the end of the transaction and before exercise of the over-allotment Option, the market capitalization of the Company amounted to 231,5 M € and consists of 48 237 529 shares.

The negotiations of the shares PRODWAYS in the form of promises of shares on the regulated market of Euronext Paris will begin on may 12, 2017 under the ISIN code FR0012613610 and the mnemonic code is PWG. The settlement-delivery of the shares issued under the Offer to Open Price and the Aggregate Investment will be made on may 15, 2017.

The shares PRODWAYS may be included in a PEA-PME. It is recalled that the PEA-SME is in receipt of the same tax advantages as the PEA classic, and is subject to the same rules of operation.

Raphaël Gorgé, Chairman and ceo of PRODWAYS and of Groupe Gorgé, said : “We are very pleased with the great reception of our subsidiary, PRODWAYS by investors, French and international, and of the remarkable success of our ipo. We are grateful to all investors who have joined us on this occasion. We are delighted to be the major interest that this transaction has elicited from the public and are particularly grateful to the shareholders of Groupe Gorgé and ECA, which have contributed to this fundraiser.

We now have the financial means to accelerate our investments in R&D and our commercial development and to finance our acquisitions in the sector of 3D printing. We will thus continue to consolidate within PRODWAYS of high performing companies with high value-added complementary technologies or new markets.

Our subsidiary PRODWAYS has all the assets necessary to continue its trajectory of growth. Already enjoying a position of unique european player in integrated, our ambition is to make this company one of the global leaders of the 3D printing industry. ”

An operation with positive consequences for Groupe Gorgé

The ipo of PRODWAYS mark an important turning point for the development in 3D printing launched by Groupe Gorgé 4 years ago. Initially financed solely from own resources, and with the support of Fimalac since 2015, PRODWAYS will also benefit from a range of funding to help it implement its ambitious development plan.

For Groupe Gorgé, the benefits of this project are multiple : the cash flow so far mobilized for PRODWAYS will be allocated in the future in other activities or in the resumption of the payment of dividends and the group’s balance sheet will be considerably strengthened by the consolidation of the cash lifted by PRODWAYS during the operation. The listing of PRODWAYS will also show the market value of an activity whose accounts of historical results do not reflect the potential.

Owner of 67.4% of the company’s capital, Groupe Gorgé will remain the reference shareholder and long-term, PRODWAYS and will continue to support the subsidiary in its strategy of conquest of market shares.

Forward-looking statements

This press release contains forward-looking statements. These statements do not constitute guarantees as to the future performance of Groupe Gorgé or of Prodways Group. These forward-looking statements relate to future prospects, developments and business strategy of Groupe Gorgé and Prodways Group and are based on analyses of forecasts of future results and estimates of amounts not yet determinable. By their nature, forward-looking information involve risks and uncertainties because they relate to events and depend on circumstances that may or may not be realized in the future. Groupe Gorgé draws your attention to the fact that the forward-looking statements are not a guarantee of future performance and that its financial situation, its results and cash flows of the real as well as the evolution of the sector in which Groupe Gorgé operates may differ significantly from those offered or suggested by the forward-looking statements contained in this document. In addition, even if the financial situation of Groupe Gorgé, its results, its cash flows and the evolution of the sector in which Groupe Gorgé operates were consistent with the forward-looking information contained in this document, those results or developments may not be indicative of results or developments in future of Groupe Gorgé. A description of the events that could have a material adverse effect on the business, financial position or results of Groupe Gorgé, or on its ability to achieve its objectives, see chapter 1.6 “risk Factors” of the reference document prepared by the company.

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