Vivendi: The Planned Listing of Canal+ on the London Stock Exchange is Compatible With the French Legislation on Freedom of Communication
29 Luglio 2024 - 8:14PM
Business Wire
Regulatory News:
Following its July 22, 2024, press release, Vivendi (Paris:VIV)
provides the following clarifications concerning Canal+.
With regard to Canal+, the ongoing split project would result in
the admission on the London Stock Exchange of the shares of a
French holding company, which would be called Canal+ and would
control 100% of the company holding the license to provide
terrestrial television services.
This holding company would therefore replace Vivendi as the
parent company of the Canal+ group.
In accordance with Article 40 of French Law No. 86-1067 of
September 30, 1986, on Freedom of Communication, as long as the
Canal+ group remains the holder of such broadcasting licenses,
these licenses will not be compatible with an acquisition by a
person of non-European Union nationality which would result in
increasing, directly or indirectly, such investors' share of the
capital to more than 20% of the share capital or voting rights in
the company holding these licenses.
In 20151, Vivendi had indicated that an interpretation of these
provisions could potentially, in the absence of case law on this
issue, hinder the aggregation of non-European Union shareholdings
beyond 20% of Vivendi’s own share capital, and not just the holding
of more than 50% of its share capital by such investors. However,
no decision from a judicial or administrative authority has
supported this interpretation, and Vivendi hasn’t mentioned it in
its Annual Reports – Universal Registration Document since
2021.
If the ongoing split project were to materialize, this legal
regime will be just as compatible with the listing of Canal+ on the
London Stock Exchange, or on the Johannesburg Stock Exchange if
that were to be its choice in the future, as it is today with the
listing of Vivendi on Euronext Paris.
About Vivendi
Since 2014, Vivendi has been building a world-class content,
media and communications group. Canal+ Group is a major player in
the creation and distribution of cinema and audiovisual content on
all continents. With Lagardère, Vivendi is the world’s
third-largest book publisher for the general public and educational
markets, and a leading global player in travel retail. Havas is one
of the largest global communications groups with a presence in more
than 100 countries. Vivendi is also active in the magazine business
(Prisma Media), and in video games (Gameloft). It also owns a
global digital content distribution platform (Dailymotion) and a
subsidiary dedicated to providing very high-speed Internet access
in Africa (GVA). Vivendi’s various activities work closely together
as an integrated group committed to transforming its businesses to
meet the expectations of the public and anticipate constant
changes. As a committed group, Vivendi contributes to building more
open, inclusive, and responsible societies by supporting diverse
and inventive creative works, promoting broader access to culture,
education, and its industries, and increasing awareness of 21st
century challenges and opportunities. www.vivendi.com.
Important disclaimers
This press release contains forward -looking statements with
respect to Vivendi’s financial condition, results of operations,
business, strategy, plans and outlook, including the impact of
certain transactions such as the split and listing projects, as
well as related operations. Although Vivendi believes that such
forward-looking statements are based on reasonable assumptions,
such statements are not guarantees of completion of the split and
listing projects nor of Vivendi’s future performance. Actual
results may differ materially from the forward-looking statements
as a result of a number of risks and uncertainties, many of which
are outside our control, including, but not limited to, the risks
related to obtaining regulatory, administrative, third - party or
any other approvals, and the risks described in the documents of
the Group filed by Vivendi with the Autorité des Marchés Financiers
(the French securities regulator), which are also available in
English on Vivendi’s website (www.vivendi.com). Investors and
security holders may obtain a free copy of documents filed by
Vivendi with the Autorité des Marchés Financiers at
www.amf-france.org, or directly from Vivendi. Accordingly, we
caution readers against relying on such forward-looking statements.
These forward-looking statements are made as of the date of this
press release. Vivendi disclaims any intention or obligation to
provide, update or revise any forward- looking statements, whether
as a result of new information, future events or otherwise. This
press release does not contain or constitute an offer of securities
or a solicitation of an offer to subscribe to or purchase, nor an
invitation to sell, buy, or subscribe to securities in France or
abroad. This press release must in no way be interpreted as a
recommendation to readers.
The dissemination of this press release may be restricted,
limited, or prohibited by law in certain states, and anyone wishing
to distribute it must inform themselves about the existence of such
restrictions, limitations, or prohibitions, and adhere to them. Any
failure to do so may constitute a violation of the applicable
securities regulations in those states.
Unsponsored ADRs. Vivendi does not sponsor an American
Depositary Receipt (ADR) facility in respect of its shares. Any ADR
facility currently in existence is “unsponsored” and has no ties
whatsoever to Vivendi. Vivendi disclaims any liability in respect
of any such facility.
This document has been certified by Vivendi SE using the
blockchain and Nodle Connecting SDK’s Click solution to ensure its
authenticity. View this certificate of authenticity by logging in
to https://www.certification.vivendi.com or using a blockchain
explorer such as https://etherscan.io or
https://www.blockchain.com.
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