EDF: Decision of the Paris Court of Appeal dismissing the claim lodged by minority shareholders seeking the annulment of the AMF clearance decision – Reopening of the simplified public tender offer for the equity securities of EDF
Decision of the Paris Court of Appeal dismissing the claim lodged by minority shareholders seeking the annulment of the AMF clearance decision – Reopening of the simplified public tender offer for the equity securities of EDF
On 2 May 2023, the Paris Court of Appeal dismissed the claim lodged by the employee shareholding fund Actions EDF and the non-profit organizations Energie En Actions and Association de Défense des Actionnaires Minoritaires seeking the annulment of the clearance decision of the French Financial Markets Authority, the Autorité des Marchés Financiers (the "AMF") on the simplified public tender offer initiated by the French State for the equity securities of EDF (the "Offer").
Subsequently, the AMF indicated in a notice released on 2 May 2023 that, in accordance with the French State’s undertakings1, the Offer will be reopened for a period of 10 trading days from 4 May 2023 to 17 May 2023 included. The notice released by the AMF is available on the AMF’s website (www.amf-france.org).
Following this period, the French State will request the implementation of a squeeze-out procedure for EDF shares and OCEANEs, since the legal and regulatory conditions for such implementation will be met.
This press release was prepared for information purposes only. It does not constitute an offer to the public and may not be deemed to constitute any form of soliciting for the purpose of buying or selling financial securities. The circulation of this press release, the Offer, and the acceptance of the Offer may be subject to a specific regulation or restrictions in some countries. The Offer is not directed at persons subject to such restrictions, either directly or indirectly, and it may not be accepted by anyone located in a jurisdiction where the Offer is subject to such restrictions. Consequently, persons in possession of this press release must familiarize themselves and comply with any restrictions that may apply to them.
EDF may not be held liable for the violation, by any person or entity, of any applicable legal or regulatory restrictions.
This press release is certified. Check its authenticity on medias.edf.com
As a major player in energy transition, the EDF Group is an integrated energy company active in all businesses: generation, transmission, distribution, energy trading, energy sales and energy services. EDF group is a world leader in low-carbon energy, having developed a diverse production mix based mainly on nuclear and renewable energy (including hydropower). It is also investing in new technologies to support energy transition. EDF’s raison d’être is to build a net zero energy future with electricity and innovative solutions and services, to help save the planet and drive well-being and economic development. The Group is involved in supplying energy and services to approximately 40.3 million customers (1), of whom 30.3 million in France (2). It generated consolidated sales of €143.5 billion in 2022. EDF is listed on the Paris Stock Exchange.
(1) Customers are counted per delivery site. A customer can have two delivery points: one for electricity and another one for gas.
(2) Including ÉS (Électricité de Strasbourg) and SEI.
1 See press release dated 8 February 2023.