Update on Fnac Darty's Joint Procedure Results for Unieuro Shares

Insights into Fnac Darty's Joint Procedure for Unieuro Shares

As we delve into the latest developments regarding the joint procedure concerning Unieuro shares, it's essential to highlight the steps initiated by Fnac Darty SA and RUBY Equity Investment S.a r.l. The joint procedure is an important strategic move that aims to ensure a smoother transition for stakeholders involved with Unieuro S.p.A.

Understanding the Joint Procedure's Framework

The joint procedure is significant under Article 111 of the Legislative Decree No. 58, as it focuses on exercising the right to squeeze-out. This process began on December 19, 2024, to guide stakeholders through the complexities of share management, facilitating offers for all outstanding shares of Unieuro.

Details of the Share Offer

Fnac Darty and Ruby have initiated an offer concerning the 687,663 outstanding ordinary shares of Unieuro, specifically excluding treasury shares. As communicated through the official channels, the completion of the backward acquisition reflects the evolving dynamics of share management within the retail sector.

Investor Participation in the Joint Procedure

During the recent joint procedure period, aligned with the regulations prescribed, investors had the opportunity to express their preferences between various compensation methods. The period for stakeholders to choose how to approach their share compensation has recently concluded, signaling an essential transition towards the final stages of the process.

Preliminary Outcomes from the Joint Procedure

According to initial reports from Intesa Sanpaolo S.p.A., approximately 139,558 shares were tendered, reflecting a keen interest among stakeholders in this latest offer. To put these numbers into context, these shares constitute roughly 0.67% of Unieuro's total capital.

Distribution of Compensation

The findings from the joint procedure have confirmed the payment structure for share compensation. Holders of 124,481 shares can expect a combination of cash and newly issued Fnac Darty shares, whereas another 15,077 shares will receive the full cash alternative compensation of €11.67 per share.

Key Dates and Regulatory Outcomes

As we look towards the beginning of 2025, critical dates are lined up. The anticipated payment date for the joint procedure is set for January 8, 2025, marking a substantial point for all shareholders involved. Borsa Italiana has also indicated plans to delist Unieuro shares on this date, following the proper regulatory review.

About Fnac Darty and its Market Presence

Fnac Darty stands as a formidable entity in the European market, renowned for its extensive retail operations across multiple countries. The group has solidified its position by constantly evolving with consumer trends, boasting a significant online presence that contributes majorly to its revenue streams.

With nearly 25,000 employees and over 1,000 stores, Fnac Darty leverages its expansive multi-channel strategy to engage more than 27 million unique visitors monthly across its platforms. In 2023 alone, the group's revenue neared €8 billion, underscoring its influential status in e-commerce and retail.

Frequently Asked Questions

What is the purpose of the Joint Procedure initiated by Fnac Darty?

The Joint Procedure aims to facilitate the consolidation of shares and streamline the acquisition process for Unieuro's outstanding ordinary shares.

How many shares were tendered during the Joint Procedure?

A total of 139,558 shares were tendered by investors during the Joint Procedure for Unieuro.

What compensation options were provided to shareholders?

Shareholders could choose between receiving a mix of cash and FNAC shares or opting for a full cash alternative compensation.

When is the next expected payment date for shareholders?

The payment date for the Joint Procedure is scheduled for January 8, 2025.

Will Unieuro shares remain listed after the Joint Procedure?

No, Borsa Italiana will delist Unieuro shares from trading following the conclusion of the Joint Procedure on January 8, 2025.

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