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Cegedim : Implementation of the plan to transfer the listing of the Group's shares on Euronext Growth
Globenewswire· 2025-06-13 16:15
Core Viewpoint - Cegedim S.A. has received approval from its shareholders to transfer its listing from Euronext Paris to Euronext Growth Paris, aiming to enhance share visibility and attractiveness while benefiting from regulatory relief [1][3]. Group 1: Transfer Details - The Board of Directors has decided to implement the transfer and will file an application for delisting from Euronext Paris and listing on Euronext Growth [2]. - The transfer is expected to position Cegedim among the top 30 market capitalizations on Euronext Growth [3]. Group 2: Regulatory Changes - Following the transfer, Cegedim will publish an annual report within four months of the financial year-end, including financial statements and management reports [4]. - A half-yearly report will also be published within four months of the first half of the year, but these half-yearly financial statements will not require statutory auditor audits [5]. - The company will continue to publish quarterly revenue figures and comply with IFRS standards and CSRD requirements for sustainability information [6]. Group 3: Corporate Governance - The company will maintain parity rules on the Board as per French Commercial Code and continue to adhere to audit committee regulations [9][10]. - Shareholders' approval for executive remuneration policies will no longer be required [11]. - The company will streamline the content of its corporate governance report [7]. Group 4: Shareholder Protection - Minority shareholder protection will be ensured through a mandatory public offer if the threshold of 50% of capital or voting rights is crossed [14]. - Companies on Euronext Growth only need to report changes in shareholding at the 50% and 90% thresholds [15]. Group 5: Liquidity Considerations - The transfer to Euronext Growth may affect the liquidity of Cegedim shares, which could differ from the liquidity on the regulated Euronext Paris market [17]. - The company has identified a limited number of funds that may sell shares due to the transfer, as their prospectuses exclude investments in Euronext Growth [18]. Group 6: Timeline and Support - An application for delisting and listing is expected to be filed soon, with anticipated admission to Euronext Growth in early September 2025, supported by TP ICAP Midcap as the listing sponsor [20]. Group 7: Company Overview - Founded in 1969, Cegedim is a technology and services group focused on digital data flow management for healthcare ecosystems and B2B, generating over €654 million in revenue in 2024 [21].
Cegedim: plan to transfer its shares to Euronext Growth Paris.
Globenewswire· 2025-05-09 17:00
Core Viewpoint - Cegedim plans to transfer its shares from Euronext Paris to Euronext Growth, aiming to enhance visibility and attractiveness, with a shareholder meeting scheduled for June 13, 2025, to approve this move [1][2]. Company Overview - Cegedim is an innovative technology and services group focused on digital data flow management for healthcare ecosystems and B2B, employing nearly 6,700 people across more than 10 countries, and generated over €654 million in revenue in 2024 [21]. Transfer Details - The transfer to Euronext Growth is expected to position Cegedim among the top 30 market capitalizations on this less-regulated market, which offers some regulatory relief while maintaining best practices [2][3]. - Cegedim currently meets the eligibility criteria for the transfer, including a market capitalization of less than €1 billion and a public float of at least €2.5 million [3]. Shareholder Meeting - The Ordinary Shareholders' Meeting on June 13, 2025, will vote on the proposed transfer, and if approved, the Board of Directors will implement the transfer process [4][20]. Regulatory Changes - Following the transfer, Cegedim will continue to publish annual and half-yearly reports, but the half-yearly financial statements will no longer require statutory auditor audits [5][6]. - The company will maintain its commitment to transparency regarding insider information and will continue to comply with IFRS standards and CSRD requirements for sustainability information [7][8]. Corporate Governance - Cegedim will uphold parity rules on its Board and maintain existing audit committee provisions, ensuring good governance practices remain intact [9][10]. - The shareholders' meeting will no longer need to approve the remuneration policy for corporate officers, streamlining governance processes [11]. Shareholder Protection - The transfer will ensure minority shareholder protection through mandatory public offers in case of crossing the 50% threshold of capital or voting rights [14]. - Companies listed on Euronext Growth are only required to communicate significant changes in shareholding at the 50% and 90% thresholds [15]. Liquidity Considerations - The transfer to Euronext Growth may affect the liquidity of Cegedim shares, which could differ from the liquidity on the regulated Euronext Paris market, although the company will maintain its liquidity contact [17][18].