Brief: Prodways Group's Shares To Be Distributed To Groupe Gorgé Shareholders

Prodways SA

26/10/2021 17:33

Oct 26 (Reuters) - Prodways Group SA  PWG.PA :
    * MAJOR CHANGES IN PRODWAYS GROUP'S SHAREHOLDING STRUCTURE
    * PROPOSAL WILL BE SUBJECT TO APPROVAL OF SHAREHOLDERS OF
GROUPE
GORGÉ IN DECEMBER 2021
    * GROUPE GORGÉ TODAY ANNOUNCES ITS PLAN TO DISTRIBUTE IN
KIND MOST
OF ITS SHARES IN PRODWAYS GROUP TO ITS SHAREHOLDERS, I.E. 56.3%
OF COMPANY'S SHARE CAPITAL
    * GORGÉ FAMILY WOULD REMAIN GROUP'S FIRST SHAREHOLDER
    * OPERATION WOULD GREATLY IMPROVE MARKET PROFILE OF PRODWAYS
GROUP, WHOSE FREE FLOAT WOULD SIGNIFICANTLY INCREASE FROM 34% TO
AROUND 60%
    * PRODWAYS GROUP WOULD THUS BENEFIT FROM A BETTER LIQUIDITY
PROFILE AND AN ENHANCED ABILITY TO RAISE CAPITAL TO SEIZE GROWTH
OPPORTUNITIES AND FORGE DEVELOPMENT PARTNERSHIPS IN FRANCE AND
ABROAD
    * RECRUITMENT OF A NEW CEO FOR PRODWAYS GROUP IS UNDERWAY
AND
SHOULD BE FINALIZED BY END OF YEAR

See also id:nACT71672
Source text for Eikon:  ID:nACT71670 
Further company coverage:  PWG.PA 

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