Termination of Legal Proceedings Between Claranova and Its Canadian Minority Shareholders

21 May 2024 18:00 CEST

Regulatory News:

Claranova (Euronext Paris : FR0013426004 - CLA) announces that it has reached an agreement with its two Canadian minority shareholders, Michael Dadoun and Daniel Assouline, under which the latter agreed to withdraw today, without any compensation, the two separate legal proceedings (appeal and on merits) that were pending against the company.

This decision follows recent governance and management changes at Claranova, including the appointment of Michael Dadoun as a director and Daniel Assouline as a non-voting member of the Board of Directors, approved by Claranova shareholders at the Annual General Meeting of April 5, 2024. The Dadoun Family Trust and the companies 10422339 Canada Inc. and 6673279 Canada Inc., jointly holding 6.99% of Claranova's share capital, instituted proceedings on October 13, 2023 against Claranova and the members of the officers of the General Meeting before the Nanterre Commercial Court, seeking in particular to annul a decision of the officers of the General Meeting of November 30, 2022, which had deprived them of part of their voting rights, to cancel the said Meeting and to pay them damages.

Marc Goldberg, Chairman of Claranova's Board of Directors, commented: “We are delighted with this decision, which reflects the pacified climate that now prevails within Claranova. With renewed governance and the recent refinancing of its debt, Claranova can now focus, under the leadership of its CEO Eric Gareau, on defining its new strategic roadmap aimed at further improving the company's financial and commercial performance.”

Michael Dadoun and Daniel Assouline commented: “We are very pleased to see that Claranova has embraced the renewal of the company's governance. Under these conditions, the procedures we had initiated are no longer justified, and we have therefore decided to withdraw them. As shareholders and members of the Board of Directors, we wish to lend our constructive support to Claranova’s continued progress.”

Financial calendar:
August 1, 2024: FY 2023-2024 revenue
October 30, 2024: FY 2023-2024 results

About Claranova:

As a diversified global technology company, Claranova manages and coordinates a portfolio of majority interests in digital companies with strong growth potential. Supported by a team combining several decades of experience in the world of technology, Claranova has acquired a unique know-how in successfully turning around, creating, and developing innovative companies.
Claranova has proven its capacity to turn a simple idea into a worldwide success in just a few short years. Present in 15 countries and leveraging the technology expertise of its 800+ employees across North America and Europe, Claranova is a truly international group, with 95% of its revenue derived from international markets.
Claranova’s portfolio of companies is organized into three unique technology platforms operating in all major digital sectors. As an e-commerce leader in personalized objects, Claranova also stands out for its technological expertise in software publishing and the Internet of Things, through its businesses PlanetArt, Avanquest and myDevices. These three technology platforms share a common vision: empowering people through innovation by providing simple and intuitive digital solutions that facilitate everyday access to the very best of technology.

For more information on Claranova Group:
https://www.claranova.com

CODES
Ticker :  CLA
ISIN : FR0013426004
www.claranova.com

Disclaimer:
All statements other than statements of historical fact included in this press release about future events are subject to (i) change without notice and (ii) factors beyond the Company’s control. Forward-looking statements are subject to inherent risks and uncertainties beyond the Company’s control that could cause the Company’s actual results or performance to be materially different from the expected results or performance expressed or implied by such forward-looking statements.

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ANALYSTS - INVESTORS
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ir@claranova.com

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