Completion of Viridien (formerly CGG) reverse share split
Paris, France – July 31, 2024
Viridien (the “Company”) announces today the completion of the reverse share split of its share capital on the basis of 1 new share of €1.00 nominal value for 100 old shares of €0.01 nominal value (the “Reverse Share Split”). Therefore, 716,146,563 old shares with a nominal value of one cent of a euro (€0.01) each were exchanged for 7,161,465 new shares with a nominal value of one euro (€1) each.
As of today, the old shares (ISIN code FR0013181864) will be delisted and the new shares resulting from the Reverse Share Split are tradeable on the Euronext Paris market under a new ISIN code: FR001400PVN6.
The main terms and conditions of the Reverse Share Split, as detailed in the initial notice of Reverse Share Split and additional notice published respectively on June 14 and June 26, 2024 in the Bulletin des Annonces Légales Obligatoires, as well as in the press release published by Viridien on June 27, 2024, are as follows:
- Number of new shares resulting from the Reverse Share Split: 7,161,465 shares
- Nominal value of a new share: €1.00
- ISIN code of new shares: FR001400PVN6
- Admission of the Company's new shares for trading: July 31, 2024
- Ticker symbol of the new shares (unchanged): VIRI
Shareholders holding a total number of shares that is an exact multiple of 100 will need to take no action. These shares have been automatically exchanged by their financial intermediary on the basis of 1 new share (of €1.00 nominal value) for each block of 100 old shares (of €0.01 nominal value).
Shareholders who were unable to obtain a number of old shares that is a multiple of 100 will be compensated for their fractional rights by their financial intermediary within a maximum period of 30 days as from July 31, 2024, i.e. up to August 29, 2024 at the latest. Shareholders are invited to contact their financial intermediary if they have any questions on this subject.
It should be noted that the Reverse Share Split is a share exchange transaction, with no impact on the overall value of Viridien shares held by shareholders, with the exception of fractional shares.
The Reverse Share Split was carried out in accordance with the 15th resolution of the Combined General Meeting of the shareholders of the Company of May 15, 2024, as decided by the decision of the Chief Executive Officer on June 14, 2024, following the sub-delegation from the Board of Directors on May 15, 2024 and pursuant to Articles L.228-6-1 and R.228-12 of the French Commercial Code, and Article 6 of Decree no. 48-1683 of October 30, 1948 setting out certain characteristics of securities.
Upcoming transactions timeline:
| July 31, 2024 | Effective date of Reverse Share Split and first listing of the new shares (ISIN code: FR001400PVN6) |
| As from July 31, 2024 until August 29, 2024 | Compensation of shareholders with fractional shares by their financial intermediary |
| August 5, 2024 | Resumption of the exercise period for securities giving access to the share capital |
About Viridien (formerly CGG):
Viridien (www.viridiengroup.com) is an advanced technology, digital and Earth data company that pushes the boundaries of science for a more prosperous and sustainable future. With our ingenuity, drive and deep curiosity we discover new insights, innovations, and solutions that efficiently and responsibly resolve complex natural resource, digital, energy transition and infrastructure challenges. Viridien employs around 3,500 people worldwide and is listed as VIRI on the Euronext Paris SA (ISIN: FR001400PVN6).
Contact: Legal Department, 27 avenue Carnot, 91300 Massy
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