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GROUPE GORGE : Successful sale by Groupe Gorgé of 7.5% of Prodways Group's capital



Groupe Gorgé (Euronext: GOE) announces the successful sale of 3,736,729 Prodways Group (Euronext: PWG) shares, accounting for 7.5% of the company's capital, at €5.65 per share, as part of an accelerated placement with institutional shareholders.


The sale generated gross proceeds of €21.1 million for Groupe Gorgé enabling it to free up new financing capacities to develop its other business activities and potentially renew dividend payments in 2018.


The Prodways Group's float grew from 21.9% to 29.4% following the transaction, which should contribute to improving the share's liquidity. Groupe Gorgé now holds about 57.7% of the capital. In addition, Groupe Gorgé confirms its intention to remain the long-term controlling shareholder with at least 50% of the capital of Prodways Group, as it has been for its ECA subsidiary for 13 years.


"We are delighted with the success of the transaction which confirms the high level of interest of French and international investors in Prodways Group. We are fully committed to making Prodways Group a global leader in industrial 3D printing and we intend to remain its long-term majority shareholder", stated Raphaël Gorgé, Chairman and Chief Executive Officer of Groupe Gorgé.


Oddo BHF and Portzamparc (Groupe BNP Paribas) acted as Global Coordinators and Joint Bookrunners for the placement.


Groupe Gorgé's residual holding is subject to a lock up period of 365 days, subject to certain standard exceptions.


 


About Groupe Gorgé


Groupe Gorgé is an independent group that specializes in high-tech industries. Today, the Group is active in the fields of security and protection in extreme environments, as well as in the 3D printing sector. It employs around 1,700 people, is located in eight countries and directly exports around 40% of its activity. In its more than twenty-five year history, Groupe Gorgé has always developed and driven the latest technological and industrial innovations.


Smart Safety Systems:


Developing complete, innovative technological solutions for complex missions in hostile and confined environments.


Protection of High-Risk Installations:


Protecting people and ensuring the active and passive protection of installations for energy markets and industrial and tertiary sectors in France. Ensuring the maintenance of these protection systems.


3D Printing:


Enabling major industry players to find new routes to successful innovation and production processes by providing systems, 3D printers and new premium material.


In 2016, the Group reported revenue of €281.2 million. It is backed by 1,800 employees and operations in over ten countries.


More information available on www.groupe-gorge.com


Groupe Gorgé is listed on Euronext Paris and on the US OTC market in the form of ADR.


Euronext Paris:


Compartment B.


ISIN code: FR0000062671


Ticker code: GOE


US OTC market:


CUSIP NUMBER: 399451 103


ISIN NUMBER: US3994511034


Ticker Code: GGRGY / GGRGF


Contacts


Groupe Gorgé - Raphaël GORGÉ – CEO & Chairman - Tel.: +33 1 44 77 94 77 -


E-mail: [email protected]


Finance News – Natacha MORANDI – Analysts/Investors Relations - Tel.: +33 1 53 67 36 94 -


E-mail: [email protected]


Finance News – Jean-Michel MARMILLON – Press Relations - Tel.: +33 1 53 67 36 73 -


E-mail: [email protected]


 


Disclaimer


GROUPE GORGE press releases may contain forward-looking statements regarding GROUPE GORGE's targets. These forward-looking statements reflect GROUPE GORGE's current expectations. Such forward-looking statements and targets depend on known and unknown risks, uncertainties and other factors that could cause actual results, performance or events to differ materially from those anticipated herein. The risks and uncertainties that could affect the Group's future ability to achieve its targets include, in addition to those indicated in the press release: the strength of competition; the development of markets in which the Group operates and notably the 3D printing division; currency fluctuations; obtaining the export authorizations that may be required for certain activities; control of costs and expenses; changes in tax legislation, laws,
regulations or their enforcement; our ability to successfully keep pace with technological advances; our ability to attract and retain qualified personnel and key staff; the evolution, interpretation and uniform application and enforcement of International Financial Reporting Standards (IFRS), according to which we prepare our financial statements; manufacturing and supply chain bottlenecks; the performance of our business partners (subcontractors, agents, suppliers, etc.). Some of these risk factors are set forth and detailed in our Document de Référence (Registration Document including the annual financial report filed with the French Autorité des Marchés Financiers), available on our website www.groupe-gorge.com. This list of risks, uncertainties and other factors is not limitative.
Other unanticipated, unknown or unforeseeable factors, such as changes in the economic situation or financial markets, could also have a material adverse effect on our targets.


This press release and the information it contains do not constitute an offer to sell or to subscribe, or a solicitation to purchase or subscribe shares or securities in GROUPE GORGE or in its listed subsidiaries in any country whatsoever.


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from Groupe Gorgé!


@GroupeGorge


 





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Full and original press release in PDF:


https://www.actusnews.com/documents_communiques/ACTUS-0-50791-successful-sale-by-groupe-gorge-of-7.5-of-prodways-group_s-capital.pdf


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Source: Actusnews

Groupe Gorge Stock

€18.70
-4.300%
Heavy losses for Groupe Gorge today as the stock fell by -€0.840 (-4.300%).

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