Michelin: Four-for-one stock split of Michelin shares on June 16, 2022
May 16 2022 - 2:00AM
Michelin: Four-for-one stock split of Michelin shares on June 16,
2022
Clermont-Ferrand – May 16, 2022
COMPAGNIE GÉNÉRALE DES ÉTABLISSEMENTS
MICHELIN
Four-for-one stock split of Michelin
shares on June 16, 2022
Compagnie Générale des Établissements Michelin
today announced that the shareholders voting at the Annual Meeting
of May 13, 2022 resolved to split the par value of the Michelin
share into four. This decision is related to the sharp 66% rise in
the share price from €86.70 at December 31, 2018 to
€144.15 at December 31, 2021.
The stock split will take effect on June 16,
2022 when trading opens, with the following characteristics:
- for each existing share with a par
value of €2.00 held on that date, shareholders will receive four
new shares with a par value of €0.50 in exchange, and the total
number of shares making up the capital will be multiplied by
four;
- Michelin shares will be traded
based on the opening price on June 16, 2022 divided by four;
- the maximum purchase price per
share under the share buyback program authorized by the Annual
Meeting of May 13, 2022 will be reduced from €220.00 to
€55.00.
This transaction will have no impact on the
double voting rights attached to the shares under the conditions
set out in the Company's Bylaws. It will not incur any costs or
formalities for Michelin's shareholders and will not impact their
rights in any way.
Investor calendar
- Last day of trading of
existing shares: Wednesday, June 15, 2022
- Delisting of existing
shares – Listing of new shares: Thursday, June 16,
2022
- Record
date: Friday, June 17, 2022
- Payment
date: Monday, June 20, 2022
Investor Relations Guillaume Jullienne+33 (0)
7 86 09 68 01 guillaume.jullienne@michelin.comPierre
Hassaïri+33 (0) 6 84 32 90 81pierre.hassairi@michelin.comFlavien
Huet+33 (0) 7 77 85 04 82flavien.huet@michelin.com |
Media Relations +33 (0) 1 45 66 22
22groupe-michelin.service-de-presse@michelin.com Individual
Shareholders +33 (0) 4 73 32 23 05Muriel
Floc'hlaymuriel.floc-hlay@michelin.comClémence
Rodriguezclemence.daturi-rodriguez@michelin.com |
DISCLAIMERThis press
release is not an offer to purchase or a solicitation to recommend
the purchase of Michelin shares. To obtain more detailed
information on Michelin, please consult the documents filed in
France with the
Autorité des Marchés
Financiers, which are also available from
the www.michelin.com/eng
website.This press release may contain a
number of forward-looking statements. Although the Company believes
that these statements are based on reasonable assumptions as at the
time of publishing this document, they are by nature subject to
risks and contingencies liable to translate into a difference
between actual data and the forecasts made or inferred by these
statements.
- 20220516_PR_Michelin_Share split
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