GTT: Evolution of GTT’s share capital
26 Maggio 2021 - 08:42AM
GTT: Evolution of GTT’s share capital
Evolution of GTT’s share
capital
- Sell-down by Engie of 10% of GTT’s share capital and issue of
an exchangeable bond for an amount of €290 million
- Following these operations, Engie's stake in GTT's share
capital will decrease from 40.4% to c. 30% (and potentially c. 20%
in the event of exercise of the exchangeable bond)
- Share buy-back by GTT of 0.5 % of its own shares
St Rémy-les-Chevreuse, May 26,
2021 - Engie announced today the sale of 3.7 million GTT
shares, representing 10 % of the company's share capital,
through an accelerated bookbuild process, at a price of €67 per
share. Engie also announced the simultaneous issue of an
exchangeable bond into existing ordinary shares of GTT for a total
nominal amount of €290 million not bearing interest (zero coupon)
and having a maturity of 3 years, with a premium exchange rate
of 20 % compared with the placement price of the GTT shares
sold simultaneously.
On the occasion of this transaction, GTT bought
back 185 392 shares at a unit price of €67. The settlement is
expected to take place on or around May 28, 2021. This share
buyback, amounting to €12.4 million, is financed with GTT's
available cash. It was carried out within the framework of the
share buyback program authorized by the 13th resolution voted at
the General Meeting of Shareholders dated June 2, 2020. It is
intended to cover future allocations of the Group's performance
shares, and more generally, any allocation or sale of shares,
particularly within the framework of a Group savings plan.
Engie's stake in GTT's share capital now
represents c. 30%, of which c. 10% corresponds to the exchangeable
bond, compared with 40.4% previously. The composition of the Board
of Directors will therefore be adjusted in order to comply with
best practices and the recommendations of the AFEP-MEDEF code in
matters of governance.
Philippe Berterottière, Chairman and CEO of GTT,
stated: “I would like to pay tribute to our shareholder Engie, who
has accompanied GTT's development for more than 50 years and has
contributed to making it an undisputed leader in its field.
Following the sale by Engie of 10% of its stake, GTT's shareholder
base is solid and balanced, and the free float is increasing
significantly. We are proud to be supported by many leading
institutional investors who will allow us to pursue our independent
model. As a leading technology player, GTT is maintaining its
trajectory of growth and innovation to meet the needs of its
customers for their energy transition and the increased
requirements they face."
Investor Relations Contact
information-financiere@gtt.fr +33 1 30 23 20
87
Media Contact:
press@gtt.fr / +33 1 30 23 80 80
For more information, visit the GTT
website, www.gtt.fr.
About GTT
GTT is the technological expert in membrane
containment systems dedicated to the transport and storage of
liquefied gases. For over 50 years, GTT has been designing and
marketing advanced technologies for improved energy performance.
GTT technologies combine operational efficiency and safety to equip
LNG carriers, floating terminals, onshore storage tanks and
multi-gas carriers. The Group also offers systems for the use of
LNG as fuel, as well as a wide range of services, including digital
solutions in the field of Smart Shipping. GTT also operates in the
hydrogen sector through its subsidiary Elogen, which designs and
assembles electrolysers for the production of green hydrogen.
GTT is listed on Euronext Paris, Compartment A
(ISIN FR0011726835, Euronext Paris: GTT) and is notably included in
the SBF 120 and MSCI Small Cap indexes.
- IR-PR Evolution of GTT's share capital 26 05 2021
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