SOITEC : Results of the Extraordinary General Meeting on April 29, 2016
Results of the Extraordinary General Meeting on April 29, 2016
Approval by the General Meeting of Shareholders
of the final two resolutions enabling
Soitec's proposed capital increases to go ahead
Bernin, France, April 29, 2016 - The Board of Directors of Soitec (Euronext Paris), a world leader in manufacturing revolutionary semiconductor materials, is announcing that the Extraordinary General Meeting of the Company's shareholders held today on second call and chaired by Paul Boudre approved both resolutions on the agenda by a very large majority. These were the only two resolutions that the Combined General Meeting of April 11, 2016 was unable to vote on because the quorum requirement was not met.
The Group reiterates that all the resolutions that could be put to a vote were adopted at the Combined General Meeting that met on first call on April 11, 2016. Given the votes in favor expressed at the Extraordinary General Meeting held on second call on April 29, 2016, all the resolutions required for the Company's proposed capital increases [1] totaling between €130 million and €180 million announced on February 10, 2016 to go ahead have now been adopted.
The General Meeting of the Shareholders approved the whole proposed recapitalization project of Soitec and also the delegations of powers to the Board of Directors to carry out each of the three capital increases reserved respectively for Bpifrance Participations, CEA Investissement and NSIG Sunrise [2] (in a total amount of around €76.5 million) and the subsequent launch of a rights issue (in an amount of between €53.5 million and €103.5 million).
About Soitec
Soitec (Euronext, Paris) is a world leader in manufacturing innovative semiconductor materials. The company uses its unique technologies to serve the electronics market. With 3,600 patents worldwide, Soitec's strategy is based on disruptive innovation to respond to its customers' needs for high performance, energy efficiency and cost competitiveness. Soitec has manufacturing facilities, R&D centers and offices in Europe, US and Asia. For more information, please visit www.soitec.com.
For all information, please contact:
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Investor relations
Steve Babureck +33 (0)6 16 38 56 27 or +1 858 519 6230 steve.babureck@soitec.com Individual Shareholder Relations 08 05 10 99 39 investors@soitec.com |
Media
Marylen Schmidt +33 (0)6 21 13 66 72 marylen.schmidt@soitec.com Fabrice Baron +33 (0)1 53 32 61 27 fabrice.baron@ddbfinancial.fr Isabelle Laurent +33 (0)1 53 32 61 51 isabelle.laurent@ddbfinancial.fr |
[1] For further details, please refer to the press release published by the Company on February 10, 2016 and all the information concerning the capital increases available on the website at www.soitec.com.
[2] A wholly-owned subsidiary of National Silicon Industry Group (NSIG)
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: SOITEC via GlobeNewswire
