Impact of the sale of Advanced Computing on the current financial restructuring process and timetable
The accelerated safeguard plan, approved by the classes of affected parties on 27 September 2024 and by the specialized commercial court of Nanterre on 24 October 2024, included the possibility of the disposal of the Group’s Advanced Computing activities. The forecasts presented in the accelerated safeguard plan, however, did not take this disposal into account considering the ongoing discussions.
On the basis of an enterprise value of €500 million, the proposed transaction is expected to lead to a 2027 financial leverage2 of between 1.8x and 2.1x, depending on the outcome of the ongoing €233 million rights issue.
The Company will file with the French Autorité des Marchés Financiers (the “AMF”) a supplement to the prospectus relating to the ongoing €233 million rights issue, approved by the AMF under number 24-474 on 7 November 2024:
Investors who have already placed subscription orders will have the option of withdrawing them for two (2) trading days following the approval of the supplement by the AMF.
The subscription period for the rights issue, which was supposed to close on 25 November 2024, will be extended, in accordance with the indicative timetable that will be included in the supplement.
The indicative closing date of the financial restructuring transactions is still planned by year-end or early January 2025.
The Company will continue to inform the market in due course of the next steps of its financial restructuring.