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Patrimoine et Commerce SCA Announces Planned Merger with Fonciere Sepric SA


Monday, 5 Nov 2012 01:45am EST 

Patrimoine & Commerce and the two major shareholders in Fonciere Sepric SA, Mr. Philippe Vergely and Mr. Bernard Robbe, who with their families respectively hold 38.58% and 23.90% of the share capital, have signed an agreement which provides for the simultaneous contribution, subject to certain conditions, of their shares in Fonciere Sepric SA to Patrimoine & Commerce SCA. The contributions of the Fonciere Sepric SA shares should take place before December 31, 2012 and would be paid for on the one hand by the issue of new Patrimoine & Commerce SCA shares holding immediate dividend rights on the basis of a ratio of 32 Fonciere Sepric SA shares to 17 Patrimoine & Commerce SCA shares and on the other hand by payment of a balance equal to EUR 0.91 per contributed share. The Patrimoine & Commerce SCA Supervisory Board, which was previously consulted, have approved the planned merger and the Fonciere Sepric SA Board of Directors have welcomed it. 

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