Paris, February 21, 2008, pdf file
Following its announcement on April 23, 2007, BOURBON’s progressive disposal of the company Sucrerie de Bourbon Tay Ninh (SBT) continues with the announcement that 31.6% of the equity will be floated on the Ho Chi Minh City (Vietnam) Stock Exchange, representing 44,824,172 shares, which BOURBON sold during 2007.
The shares will be listed as from February 25, 2008 at a reference price of VND* 30,000. Pursuant to Vietnamese legislation, if the price varies by more than +/- 20% on this date, the listing may be suspended till the following day.
Sucrerie de Bourbon Tay Ninh (SBT) now consists of two main business activities:
In 2007, Sucrerie de Bourbon Tay Ninh (SBT) posted revenues of VND* 674 billion, gross operating cash flow of VND* 261 billion and net income of VND* 192 billion.
As of the IPO, SBT’s equity will be as follows:
| Shareholder | Number of shares | Proportion |
|---|---|---|
| BOURBON | 97,101,628 | 68.4% |
| Public float | 44,824,172 | 31.6% |
| Total | 141,925,800 |
The 31.6% public float corresponds to the sale in installments to strategic Vietnamese investors, investment funds, employees and sugar cane growers that BOURBON announced on April 23, 2007.
Out of BOURBON’s 68.4% stake, 8.7% will be freely traded following a period of 6 months after SBT’s IPO and a further 8.7% 6 months later.
BOURBON’s remaining 51% stake is subject to an agreement whereby BOURBON is obliged to retain 30% of the equity until March 23, 2010. Until this date, BOURBON may reduce its holding below 51% subject to approval at SBT’s shareholders’ general meeting but without going below the 30% limit.
The daily market price of SBT shares can be obtained from the Ho Chi Minh City stock exchange authorities by visiting their website: http://www.hsx.vn/hsx_en
* For information purposes, as of February 19, 2008: VND 23,000 = € 1
With 4300 professionals and a fleet of 236 owned vessels, BOURBON is currently present in more than 25 countries.
BOURBON offers a broad range of offshore oil and gas marine services. Under the Horizon 2012 plan and with the launch of its "Subsea Services", BOURBON intends to become the leader in modern offshore oil and gas marine services by offering the most demanding clients worldwide, a full line of innovative, high performance and new-generation vessels and an expanded offer of subsea services.
BOURBON also specializes in bulk transport and protects the French coastline for the Merchant Marine.
Classifed by NYSE Euronext in the "Oil Services" sector, BOURBON is listed for trading on Euronext Paris, Compartment A, and is included in the Deferred Settlement Service SRD and in the SBF 120 and Dow Jones Stoxx 600 indices.