On Wednesday, Vergnet made official its decision to proceed with a share consolidation in order to reduce the number of outstanding shares, a source of volatility and management difficulties.

At the end of the operation, 7.600 old shares with a par value of 0.0001 euros will give right to one new share with a par value of 76 centimes.

The specialist in renewable energy production (wind, solar, hybrid) specifies that this operation will have no impact on the overall value of shares held by shareholders, with the exception of fractional shares.

Shareholders who do not hold a number of existing shares corresponding to a whole number of new shares will be required to purchase or sell any fractional shares themselves, in order to obtain a number of shares that is a multiple of 7,600.

The reverse stock-split will begin on May 11, 2023, and end on June 12.

The resulting shares will be admitted to trading on Euronext's Euronext Growth market in Paris from June 13, the first day of trading.

Following this announcement, Vergnet shares - among the most volatile on the Paris market - fell by 12.5% mid-day Wednesday.

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