Cir has decided to promote a “partial voluntary takeover bid” on 156,862,745 Cir shares listed on the stock exchange and equal to 12.282% of the share capital.
“The offer – explains a note – is addressed indiscriminately to all holders of Cir shares and does not concern the 26,708,861 treasury shares currently held by the issuer corresponding to 2.091% of the share capital, which are therefore excluded from the offer “.
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No al delisting
The operation does not have as its objective the delisting of Cir, but was approved by the board because the company “has had a substantial liquidity position for years”, even “in excess of its short and medium-term investment programs”. Then, explains the group, Cir “proceeded in 2020 to the sale of one of the controlling shareholdings, which, on the one hand, significantly increased liquidity, and on the other hand reduced the sectors in which it is present and the related potential needs or opportunities. of investment “.
In the event of acceptance of the offer for a quantity of shares exceeding the maximum number of the offer, “the allotment will take place according to the proportional method and Cir will purchase the same proportion of the shares from all the shareholders subscribing to the offer made to the offer “.
The offer “is not subject to the achievement of a minimum number of subscriptions”, and the shares “will not be canceled”.