August 8, 2009
Provimi acquires share in buy-back programme
Press Release
Provimi SA has acquired from Oddo Corporate Finance, in the context of the company''s share buy-back programme, 2,535,613 Provimi shares representing 9.72 percent of its share capital, at a price of EUR10.7 per share.
As a result of the combination of the 14,300 Provimi shares already held by the Company and the acquisitions thus carried out, the Company currently holds 2,549,913 of its own shares, representing approximately 9.77 percent of its share capital.
On the basis of the delegation granted pursuant to the fifteenth resolution of the shareholders general meeting of 28 May 2009, the 2,535,613 shares acquired by the Company in the context of its share buy-back programme shall be cancelled on August 10, 2009. This share capital reduction shall trigger an increase of the proportional fraction of the share capital held by all shareholders.
As a result of such capital reduction, KoroFrance SAS shall mechanically cross the 90 percent and 95 percent thresholds in capital and voting rights of the Company, and would therefore be in a position to launch a squeeze-out offer on the remaining Provimi shares which KoroFrance SAS does not already hold.
The Provimi Group is active worldwide in all types of animal nutrition. Provimi has 87 production centres in some 30 countries and exports to over 100 countries. The company manufactures products and supplies technical support for all species, including ruminants, poultry, swine and pets.