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Devoteam SA Announces Share Repurchase Tender Offer


Tuesday, 15 Oct 2013 08:00pm EDT 

Devoteam SA announced that given the evolution of prices and trading volumes on its stock in recent days it will implement a share repurchase tender offer on approximately 1.9 million of its own shares, slightly less than 20% of the Company‘s share capital at a price of EUR 13.5 per share. The repurchased shares will be cancelled. Stanislas and Godefroy de Bentzmann acting in concert who hold 23.6% of the Company‘s share capital indicate that they do not intend to tender their shares to the offer. The offer price represents a premium of 28.1% to the one month average share price, 33.1% to the one month average share price prevailing on October 3, 2013 before the evolution of the Company share market and 5.6% to the closing share price of EUR 12.78 on October 15, 2013. The share repurchase tender offer will be subject to the approval of an extraordinary general meeting of shareholders to be convened for this purpose. 

Company Quote

15.01
-0.26 -1.70%
24 Dec 2014