Buyback of a block of NRS I

24/06/2008 - 10:00

In accordance with the objectives outlined during the recent rights issue, Groupe Eurotunnel SA carried out a buy back of 150,000 NRS I on 23 June.

This transaction, which will avoid the need to issue almost 4 million shares1, once more shows the Company’s determination to ensure any further dilution is avoided, whilst lightening its financial charges.

The transaction was carried out on the basis of an implicit underlying share price which corresponds2 to a discount of approximately 14% on the share price on 19 June, the date of signature of the transaction.

Jacques Gounon, Chairman and Chief Executive of Groupe Eurotunnel SA, said:

“The recent capital increase has given us room to manoeuvre which enables us today to seize value-creating opportunities. Our intention is to simplify the capital structure.”

  1. Basis = Redemption Ratio adjusted following the capital increase approximately 26 shares for each NRS I.
  1. Taking account of the non payment of interest due on the NRS.