PARIS–(BUSINESS WIRE)–Regulatory Information:
Vivendi (OTC:) (Paris:VIV) has entered immediately into financing agreements to cowl the potential redemption of its excellent bond debt ought to the Group’s break up challenge, which feasibility research was introduced on September 13, 2023, be pursued and authorised at a rare normal assembly of its shareholders.
Bilateral structured financing agreements involving purely cash-settled derivatives on a portion of Vivendi’s Common Music Group (AS:) shares have been entered into with 5 banks for a nominal worth of €2 billion. These agreements will profit from pledges on shares held by Vivendi in UMG, Telefonica (NYSE:), Telecom Italia (BIT:) and MediaForEurope and could also be topic to margin calls.
These financing agreements, maturing in September 2026 and extendable by one 12 months, would supply Vivendi with the funds to redeem all its excellent bond debt, in accordance with the phrases and circumstances of the related bonds, as quickly as doable following the approval of the break up challenge by the extraordinary normal assembly of its shareholders and, in any occasion, earlier than the efficient date of the break up up of the Group.
The primary utilization of the proceeds underneath these bilateral structured financing agreements would require, as a situation precedent, the cancellation of all accessible commitments underneath Vivendi’s syndicated revolving facility settlement and its eight bilateral revolving facility agreements.
The knowledge and session procedures of the worker consultant our bodies of the involved Group entities in regards to the break up challenge are nonetheless ongoing (cf. Vivendi’s July 22, 2024 press launch). It must be famous that at this stage, and in response to relevant regulation, no resolution to hold out this challenge has been or might be taken, and that no additional motion, even potential, might be presumed with regard to this challenge.
Ought to this challenge go forward following the knowledge and session process, a choice might be taken on the finish of October 2024 with a view to submitting it to a rare normal assembly of shareholders which might be held in December 2024. In such a case, this transaction would nonetheless require the approval by a two-thirds majority of shareholder votes.
About Vivendi
Vivendi is a world chief in content material, media and communications. Canal+ Group is a significant participant within the creation and distribution of cinema and audiovisual content material on all continents. With Lagardère, Vivendi is the world’s third-largest guide writer for most of the people and academic markets, and a number one international participant in journey retail. Havas is among the largest international communications teams with a presence in additional than 100 international locations. Vivendi can be energetic within the journal enterprise (Prisma Media) and in video video games (Gameloft). As a dedicated group, Vivendi contributes to constructing extra open, inclusive, and accountable societies by supporting various and creative inventive works, selling broader entry to tradition, training, and its industries, and rising consciousness of twenty first century challenges and alternatives. In December 2023, Vivendi launched the research of a break up challenge the place Canal+, Havas and Louis Hachette Group, the corporate grouping the belongings in publishing and distribution, would change into impartial entities listed on the inventory market. www.vivendi.com.
Essential disclaimers
This press launch comprises info that will have characterised, earlier than changing into public, inside info as outlined by Article 7(1) of Regulation (EU) No 596/2014 of April 16, 2014, on market abuse, as amended. It additionally comprises ahead -looking statements with respect to Vivendi’s monetary situation, outcomes of operations, enterprise, technique, plans and outlook, together with the affect of sure transactions such because the break up and itemizing initiatives, in addition to associated operations. Though Vivendi believes that such forward-looking statements are primarily based on affordable assumptions, such statements usually are not ensures of completion of the break up and itemizing initiatives nor of Vivendi’s future efficiency. Precise outcomes might differ materially from the forward-looking statements because of a variety of dangers and uncertainties, lots of that are exterior our management, together with, however not restricted to, the dangers associated to acquiring regulatory, administrative, third – social gathering or another approvals, and the dangers described within the paperwork of the Group filed by Vivendi with the Autorité des Marchés Financiers (the French securities regulator), that are additionally accessible in English on Vivendi’s web site (www.vivendi.com). Traders and safety holders might get hold of a free copy of paperwork filed by Vivendi with the Autorité des Marchés Financiers at www.amf-france.org, or straight from Vivendi. Accordingly, we warning readers towards counting on such forward-looking statements. These forward-looking statements are made as of the date of this press launch. Vivendi disclaims any intention or obligation to supply, replace or revise any forward- wanting statements, whether or not because of new info, future occasions or in any other case. This press launch doesn’t comprise or represent a proposal of securities or a solicitation of a proposal to subscribe to or buy, nor an invite to promote, purchase, or subscribe to securities in France or overseas. This press launch should by no means be interpreted as a advice to readers.
The dissemination of this press launch could also be restricted, restricted, or prohibited by regulation in sure states, and anybody wishing to distribute it should inform themselves in regards to the existence of such restrictions, limitations, or prohibitions, and cling to them. Any failure to take action might represent a violation of the relevant securities laws in these states.
Unsponsored ADRs. Vivendi doesn’t sponsor an American Depositary Receipt (ADR) facility in respect of its shares. Any ADR facility at present in existence is unsponsored and has no ties in any way to Vivendi. Vivendi disclaims any legal responsibility in respect of any such facility.
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