Groupe Eurotunnel: launch of share consolidation
At its meeting on 3 October 2007, the Board of Groupe Eurotunnel decided to launch a reverse stock split (consolidation) of GET* shares. This event which is planned to start on 12 November 2007 will be initiated, as set out in the Safeguard Plan, with a ratio of one new share for every 40 old shares.
At the same meeting, the Board, in accordance with AMF regulations, decided on the principle of a “contrat d’animation de marché” (market maker’s contract) in order to reduce the excessive volatility in the shares.
For Jacques Gounon, Chairman and Chief Executive of Groupe Eurotunnel,
“This consolidation constitutes a further step in the financial restructuring of the Group, as set out in the Safeguard Plan. Our shares will have a visibility in the market which better reflects the real value of the company, today and for the future”.
The detailed terms of these actions will be the subject of further detailed notices and of an announcement by the company in the coming days.
*This consolidation has already been made public, notably in the Group’s press release dated 21 June 2007