Update on the timetable of the simplified public tender offer for the equity securities of EDF
On January 25, 2023, the French Financial Markets Authority (the "AMF") announced that the simplified public tender offer (the "Offer") filed by the French State for the equity securities of EDF will be closed on February 3, 2023, subject to its reopening in accordance with the undertakings of the French State described below.
Pending the decision of the Paris Court of Appeal on the claim lodged by the employee shareholding fund Actions EDF and the non-profit organizations Energie En Actions and Association pour la Défense des Actionnaires Minoritaires seeking the annulment of the clearance decision on the Offer, the French State has taken the following undertakings:
not to implement a squeeze-out procedure prior to the Court of Appeal's decision on the claim on the merits.
in the event that the Court of Appeal confirms the AMF's clearance decision, the French State undertakes:
to request the AMF to reopen the Offer for a period of 10 trading days after the decision of the Court of Appeal on the claim on the merits;
to proceed with the squeeze-out if the conditions are met.
in the event that the Court of Appeal annuls or amends the AMF's clearance decision, the French State undertakes:
to return the securities acquired in the Offer (both in the context of the semi-centralized Offer and through market acquisitions) to former shareholders and/or holders of OCEANEs who so request;
in the event that the French State decides to file an amended draft simplified public tender offer (followed by a squeeze-out) at a more favourable price as a result and following the decision of the Paris Court of Appeal, to pay an additional price to shareholders and/or holders of OCEANEs (having tendered their securities in the semi-centralized Offer or having sold it on the market within the Offer) who have not requested the return of their securities but who request payment of the additional price.
Information and documents relating to the Offer are available as follows:
The offer document prepared by the French State, which received AMF visa no. 22-464 on 22 November 2022, as well as the information relating to, notably, the legal, financial and accounting characteristics of the French State, can be consulted on the websites of the AMF (www.amf-france.org), the Agence des Participations de l'Etat (https://www.economie.gouv.fr/Agence-participations-etat) and EDF (www.edf.fr/finance);
The response document prepared by EDF, which received AMF visa no. 22-465 on 22 November 2022, as well as the information relating to, notably, the legal, financial and accounting characteristics of EDF can be consulted on the websites of the AMF (www.amf-france.org) and EDF www.edf.fr/finance).
This press release was prepared for information purposes only. It does not constitute an offer to the public and may not be deemed to constitute any form of soliciting for the purpose of buying or selling financial securities. The circulation of this press release, the Offer, and the acceptance of the Offer may be subject to a specific regulation or restrictions in some countries. The Offer is not directed at persons subject to such restrictions, either directly or indirectly, and it may not be accepted by anyone located in a jurisdiction where the Offer is subject to such restrictions. Consequently, persons in possession of this press release must familiarize themselves and comply with any restrictions that may apply to them.
EDF may not be held liable for the violation, by any person or entity, of any applicable legal or regulatory restrictions.
This press release is certified. Check its authenticity on medias.edf.com
As a major player in energy transition, the EDF Group is an integrated energy company active in all businesses: generation, transmission, distribution, energy trading, energy sales and energy services. EDF group is a world leader in low-carbon energy, having developed a diverse production mix based mainly on nuclear and renewable energy (including hydropower). It is also investing in new technologies to support energy transition. EDF’s raison d’être is to build a net zero energy future with electricity and innovative solutions and services, to help save the planet and drive well-being and economic development. The Group is involved in supplying energy and services to approximately 38.5 million customers (1), of whom 29.3 million in France (2). It generated consolidated sales of €84.5 billion in 2021. EDF is listed on the Paris Stock Exchange.
(1) Since 2018, customers are counted per delivery site. A customer can have two delivery points: one for electricity and another one for gas.
(2) Including ÉS (Électricité de Strasbourg) and SEI.