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Eckert & Ziegler BEBIG: Close of the sale of Eckert & Ziegler BEBIG shares resulting from the consolidation of fractions of shares following the reverse stock split on 10 November 2016

Eckert & Ziegler BEBIG
Limited Liability Company whose securities are admitted to trading on a regulated market
Registered office: Parc Industriel de Seneffe 1, 7180 Seneffe, Belgium
Company number: 0457.288.682 (RLE Charleroi)

Press release


21 November 2016, 5:40 pm

As announced by Eckert & Ziegler BEBIG in its press release dated 27 September 2016, the reverse stock split of Eckert & Ziegler BEBIG shares and beneficiary shares, decided during the extraordinary shareholders' meeting held on 9 June 2016, with a ratio of one new share / beneficiary share (ISIN BE0974300320) for ten existing shares (ISIN BE0003689032) has been effective since 10 November 2016.

The resulting fractions of shares were consolidated into new shares, which were then sold or will be sold to Eckert & Ziegler EZAG by Euroclear Belgium, mandated by Eckert & Ziegler BEBIG. The net proceeds of the sale of those new shares will be allocated proportionally between the holders of fractions of shares. However only five financial institutions communicated, on Friday at 4:00 pm the number of these new shares to be sold. Therefore, it was decided to extend the period to communicate the number of new shares to be sold by the financial institutions to Euroclear Belgium until Friday 25 November 2016 at 4:00 pm.

At this date and based on the information received from the financial institutions, 143 new shares were sold. The average net sale price per share (ISIN BE0974300320) was 0.74 euro. The holders of fractions of shares, clients from the financial institutions that communicated the number of new shares to be sold, will therefore be allocated cash compensation in an amount of 0.74 euro for each (former) action (ISIN BE0003689032) which they held prior to the reverse stock split.

Provided that Eckert & Ziegler BEBIG SA has comprehensive banking details of the affected shareholders, the payment will be made during the week of 21 November 2016.

The holders of fractions of shares who used to hold Eckert & Ziegler BEBIG shares in dematerialized form and who have not received payment by that deadline should contact the bank at which they have their account.

Shareholders for which Euroclear Belgium does not hold bank details must send those details to in order to obtain payment of the compensation.  Sums which might not be paid to registered shareholders for which Euroclear Belgium does not hold bank details will be retained on a bank account opened for that purpose.

This press release is also available on the company's website.

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