Claranova: exchange of Avanquest shares for Claranova shares

(CercleFinance.com) - Claranova announces that it has exchanged part of the shares held by Eric Gareau in its subsidiary Avanquest Software for Claranova shares, a transaction approved by the Remuneration Committee and the Board of Directors on December 20.


The transaction was carried out via a cash payment equivalent to 35% of the value of the shares held by Eric Gareau in Avanquest Software (i.e. 386.862.44 euros) and a delivery of 560,945 existing Claranova shares for the balance.

In order to avoid dilution for shareholders, the shares allocated to Eric Gareau were taken from treasury shares, 133,930 of which were held in treasury and 427,015 within the liquidity contract managed by Kepler Cheuvreux.

For this transaction, Claranova reduced the number of shares allocated to this liquidity contract by 427,015, which expires on December 9, 2021. Claranova plans to reconstitute this liquidity line in the coming months, in order to maintain the liquidity of its shares.

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