Paragon ID : Paragon ID launches reverse share split: 1 new share for each 35 existing shares

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  Implementation of the reverse share split from March 12^th, 2018.

  
  


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  First trading day of the consolidated shares on April 12^th, 2018

  
  

Paragon ID (Euronext Paris - FR0011980077 - PID), the leading provider of identification solutions for Transport, e-ID, Traceability and Brand Protection,  has announced a reverse share split of the share capital of the company The reverse split will result in the exchange of 35 existing shares for 1 new share and is in accordance with the 1^st resolution of the Extraordinary Shareholders' meeting held on February 27^th.

The purpose of this plan is to list the company shares at a price which is more in line with market standards and with the investors' expectations. Additionally, it is hoped that this measure will reduce the volatility of the share price.

The reverse share split operation will start on March 12^th, 2018 and will end on April 12^th, 2018 when the new Paragon ID shares will start trading.

• Total number of shares comprising the capital: 58 286 819 shares


• Total number of shares subject to reverse split: 58 286 795 shares


• Nominal share value: €1


• Share price: €1,198


• ISIN code for shares before reverse split: FR0011980077


• Exchange parity: 1 new share for 35 existing shares


• Total number of new shares: 1 665 337 shares


• Nominal share value after reverse split: €35 


• Share price after reverse split: €41,93³


• ISIN code for new shares after reverse split: FR0013318813

This transaction will have no impact on the value of the Paragon ID shares held by shareholders. In practice, each shareholder will automatically be allocated 1 new share for each bloc of 35 existing shares. 

Any shareholder holding a total number of existing shares representing an exact multiple of 35 will have no action to take. Shareholders who do not hold a total number of shares that is an exact multiple of 35, will have to take the personal decision to buy or sell a specific number of shares to have their total of shares reach an exact multiple of 35. They will have until April 11^th 2018 (inclusive) to do so.

Based on the Articles L. 228-6-1 and R. 228-12 of the French Code of Commerce, after a period of 30 days from April 12^th 2018, the new shares which could not be attributed individually and corresponding to fractional rights will be sold on the stock market by the designated financial intermediaries and the proceeds from the sale will be distributed proportionally to the fractional rights of the holders of these rights.

The reverse split notice is to be published in the « Bulletin des Annonces Légales Obligatoires » on March 12^th, 2018. 

In connection with the implementation of this reverse share split, Paragon ID has also informed the holders of Warrants of the temporary suspension of the ability to exercise their Warrants until April 17^th, 2018. In order to maintain the interests of Warrants' holders, the Board of Directors has thus adjusted the exercise ratio, in accordance with the provisions of Articles L 228-99 and R 228-91 of the French Code of Commerce. The new rules for their exercise will be applicable to transactions made on or after April 17^th, 2018, the date when the ability to exercise Warrants will restart.

If shareholders have any question with regard to the procedure to follow, they have the opportunity to contact the company, directly, at the following email address: [email protected].

NEXT PUBLICATION : Publication of the half-year results 2017/18, on March 29^th, 2018, after the closing of the Euronext Paris market.

About Paragon ID

Paragon ID is a leader in identification solutions, in particular in the e-ID, Transport & Smart Cities and Traceability & Brand Protection sectors. Using the latest technologies such as RFID and NFC, Paragon ID provides smart cards, tickets, labels and tags to worldwide clients in diverse markets including public transport, manufacturing, logistics, gaming and retail.

Paragon ID employs more than 600 staff, with manufacturing sites in three continents (US, Europe and Asia), close to its customers.

Paragon ID is a part of Paragon Group, which is a leading provider of Identification and Customer Communications services, and has a total of more than €650 million turnover and close to 5,000 employees. Paragon Group combines generations of experience with the latest innovations in technology and smart data to enable responsive and meaningful interactions between organisations and their customers. For further information about Paragon Group, visit www.paragon-europe.com

Paragon ID is listed on Euronext Paris. Share name: Paragon ID - ISIN code: FR0011980077 - Mnemonic code: PID.

More information at Paragon-id.com

Contacts

Source: Actusnews