BUDGET TELECOM
Identification
GLOBAL EQUITIES
Operation
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 OPO and will take 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 October 4th, 2006 after centralisation of the OPO and should be published by Euronext Paris SA 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 included in a public Placement in France and an international private Placement in some countries excluding the United States of America. - Underwriter: GLOBAL EQUITIES - Number of shares within the Global Placement: a maximum 716,980 shares ie 80% of the Offer. The Open Price Offer - Number of shares within the OPO: a minimum of 179,245 shares ie 20% of the Offer. If the demand permits it, the number of shares offered within the OPO will be equal to 20% minimum of the Offer. Depending on the demand, the breakdown between the Placement and the OPO may be adapted as stated below: - In order to increase the Open-Price Offer, the number of shares offered within the placement may be reduced. However that number of shares offered in the Open-Price Offer will not exceed 30% of the total number of shares disseminated to the public. - In order to increase the placement, the number of shares offered within the Open-Price Offer may be reduced if the OPO would not be fully subscribed.
Admission on Alternext the 2,790,991 existing shares that comprise the equity of BUDGET TELECOM at the day of the admission and a maximum of 707,547 new shares that will be issued in the admission framework.
The admitted shares will represent the total equity and voting rights in the Company. Since the admission, the shares will be either in bearer form, or in registered form at the choice of the shareholder.
896,225 shares with a maximum of 1,030,657 shares with the extension Clause will be offered to the public as part of a Global Placement and an Open-Price Offer (OPO). The shares will be obtained from the selling of a maximum 188,678 existing shares (216,978 shares should the extension clause be totally exercised) and from the issue of a maximum of 707,547 new shares (that can be reduced to 75% ie 530,661 new shares or increased to 813,679 new shares should the extension clause be totally exercised) as part of a capital increase permitted by the General Meeting on 24 May 2006 and to be realised with the listing and decided by the Board of directors on 25th September 2006.
- Period of the Global Placement: from September 27th, 2006 to October 4th, 2006 (12:00) - Period of the OPO: from September 27th, 2006 to October 3rd, 2006 (17:00) - First quotation: October 4th, 2006 - Beginning of trading: October 10th, 2006.