Avenir Finance Corporate
Global Placement and Open Price Offer
Conditions applying to both Global Placement and Open Price Offer The first share price will be set at the end of the Offer and will take into account of the demand expressed in the Global Placement. The prices of the Global Placement and the OPO are the same. The definitive price will be set on April 12, 2006 after centralisation of the OPO and should be published by Euronext Paris in a notice that same day. The final share price may be set outside the mentioned range. The Global Placement Before first listing, a proportion of the shares will be distributed under the Global Placement, directed to institutional investors. - Underwriter: Aurel Leven - Number of shares: 558,110 shares, i.e. 90% of the Offer, excluding the increase option. The Open Price Offer - Number of shares in the OPO: 62,012 shares, i.e. 10% of the Offer, excluding the increase option Depending on the demand, the number of shares allotted to the OPO will be at least equal to 30% of the number of shares offered in the framework of the Global Placement.
Admission on Alternext the 1,105,199 existing shares that comprise the equity of Press Index, and a number of 356,750 new shares from a capital increase by way of public offering.
The admitted shares will represent the outstanding share capital and voting rights. Since the admission, the shares will be either in bearer form, or in registered form at the option of the shareholder.
620,122 shares will be made available to the public and distributed within the framework of a Global Placement and an Open-Price Offer (OPO). A number of a maximum 350,877 shares will be issued pursuant a capital increase which was decided by the board of directors on March 24, 2006, pursuant to the authorization granted by the extraordinary shareholders’ meeting held on March 15, 2006, and the other shares, i.e. 269,245 shares will be sold by the present shareholders.
Increase option: depending on the demand, this option could be exercised to increase the number of shares to a maximum number of 707,627 shares, i.e. 87,505 outstanding shares additional, representing 14,11% of the initially offered shares.
- Period of the Placement : from April 3, to April 11, 2006 (17:00) - Period of the OPO: from April 3, to April 11, 2006 (17:00) - First quotation: April 12, 2006 - Beginning of trading: April 20, 2006