INFORMATIVE NOTICE- VIVENDI SA (FR0000127771)- SPIN OFF TREATMENT
Dear Clients,
Solactive AG notes the announcement made by VIVENDI SA ( FR0000127771; VIV.PA) whereby subject to Shareholder approval scheduled on December 9, 2024 at the Combined General Meeting , each shareholder of VIVENDI SA will receive for each share
a) One newly issued ordinary share of Canal+
b) One newly issued ordinary share of Havas
c) One newly issued ordinary share of Louis Hachette Group
On the effective date of the spin off ie December 16, 2024, the SpinCos Shares are expected to be admitted to trading, respectively, on the London Stock Exchange, Euronext Amsterdam, and Euronext Paris.
Vivendi SA expects that the issuance of the SpinCos Shares as a result of the Demerger will be partially taxable. Subject to any conflicting indication it may receive from French tax authorities, Vivendi’s best estimate of the taxable component is EUR 4.27
On the Effective Date ie December 16, 2024 , the following treatment will be applied:
1) The Spin Cos shares will be added to the Index with a price of zero. The Index calculation will be switched to official prices once the spin-off company starts to trade. If the spin-off company does not begin trading on the effective date, a theoretical price for the spin-offcompany will be implemented at a fixed price until it commences trading. If a theoretical price cannot be calculated, the spin-off company remains in the index at the entry price of zero.
2) To reflect the withholding tax liability, Solactive AG will apply a negative net cash dividend to the parent for Net Total Return indices only. The negative dividend will be calculated using the withholding tax rate applicable to France (25%) applied to the sum of the distribution components (i.e. 25% of EUR 4.27 = a negative adjustment of EUR -1.0675).
https://www.vivendi.com/wp-content/uploads/2024/11/20241108_VIV_Information-Document-Vivendi.pdf
If you have any further questions, don’t hesitate to contact us.
Mit freundlichen Grüßen / Kind regards,
Solactive AG | Equity Operations
Tel.: +49 (69) 719 160 410
Mail: equity.ops@solactive.com