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Netgem SA Launches Public Tender Offer to Acquire Video Futur Entertainment Group SA


Tuesday, 22 Jan 2013 12:45pm EST 

Netgem SA and Video Futur Entertainment Group SA announced that their respective board of directors have approved a project of public tender offer initiated by Netgem SA to acquire all of shares and convertible bonds of Video Futur Entertainment Group SA. The terms of the offer are as follows: one Video Futur share for EUR 0.15 and one bond convertible in Video Futur shares for EUR 4.50; or a public exchange offer of 20 Video Futur shares against one existing or new Netgem share and two bonds convertible in Video Futur shares against three existing or new Netgem shares. The public exchange offer will be limited to 12.2% of the existing share capital of Netgem SA. Shareholders of Video Futur Entertainment Group SA, including J.2.H. (42.3% of the share capital), Moussetrap (11.7% of the share capital) and Moussescale (9.6% of the share capital) have announced that they will tender their shares and bonds to the offer. As a result, Netgem will hold at 77.5% of the share capital Video Futur Entertainment Group SA following the offer and intends within three months after the offer to request to the financial market authority to launch a squeeze-out offer to acquire all of the remaining shares. 

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