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Groupe Bourbon calls a Combined General Meeting on December 16th 2004 : founding of CBo Territoria Spin-off stock dividend to Groupe Bourbon shareholders A Combined General Meeting of Groupe Bourbon shareholders has been called for December 16th 2004 in Réunion Island. The required approval has been received from the tax authorities and, subject to the adoption of the resolutions put to the meeting, the following decisions will be implemented :
Groupe Bourbon will spin off all its assets linked to the operation of its property and real estate branch into CBo Territoria, together with its equity interest in Bourbon Pierre and in the Société de Développement Immobilier. In return, CBo Territoria will assume the bank loan debt, amounting to eur 269 000, and increase its authorized capital, creating 24 612 000 CBo Territoria shares with a face value of eur 1.32, in consideration for the net contributed assets, which amount to eur 32 487 840.
The Combined General Meeting will decide on the distribution of an exceptional in-kind dividend of the CBo Territoria shares held by Groupe Bourbon. One CBo Territoria share will be allotted for one Groupe Bourbon share held. Under the terms of the approval received from the tax authorities, the actual date of payment must be within a period of one year. The Board of Directors is considering the distribution of this stock dividend for early January 2005. In compliance with the policy announced by Groupe Bourbon, the Board of Directors of CBo Territoria will take the necessary steps, subject to the acceptance of the authorities concerned, to have the company's shares listed on the Paris stock exchange market in early 2005. Paris, November 12th 2004 About Groupe Bourbon: Offering
services on offshore oilfields, in harbour towage, assistance missions
and in bulk transport, Groupe Bourbon ranks as a major international
figure in the maritime service field. Image
7 Groupe
Bourbon |