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Groupe Monceau Fleurs SA Announces Simplified Public Tender Offer for Its Shares by Perceva; Announces Details of Restructuring

Monday, 24 Jun 2013 12:46pm EDT 

Groupe Monceau Fleurs SA announced that Perceva Holding, Perceva Holding's main shareholder France Special Situations Fund I (represented by its management company Perceva) and Groupe Monceau Fleurs SA's main shareholders (Laurent Amar, Laurent Amar Participations et Unigreen Finance SA) as well as BM Invest have signed a protocol agreement regarding an investment in the Company. These shareholders currently hold 67.49% of the share capital and 70.92% of the voting rights in Groupe Monceau Fleurs SA. The protocol agreement has two parts: a restructuring of the Company's liabilities through its recapitalization and the renegotiation with bondholders of its debt, and restructuring of the Company which will focus its activity on its core business. The planned recapitalization involves reducing the nominal value of the Company's shares to EUR 0.15; a EUR 6.3 million capital increase reserved for Perceva Holding; the conversion of the debt held by Unigreen Finance SA and BM Invest into shares; a capital increase reserved for Perceva Holding equal to the value of debt acquired by Perceva Holding, and the transformation of the Company into a public limited company with a supervisory board and a management board. Perceva Holding will issue a simplified public tender offer for all the Company's shares not already held by the concert and all the Company's convertible bonds. The plan is subject to the condition that 50% of the convertible bonds in circulation are acquired. 

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14 Jul 2014