Boulogne, Monday, October 14, 2019 – In line with the announcement made by the press release of July 5, 2019, LES NOUVEAUX CONSTRUCTEURS SA ("LNC") approved the implementation of the spin-off of its property development services business.
At its meeting of October 11, 2019, the Board of Directors of LNC authorized the conclusion of the Partial Contribution Transaction of Assets Subject to the Split Plan with the company LES NOUVEAUX CONSTRUCTEURS INVESTISSEMENT ("LNCI") (a subsidiary of which it holds 99, 84%), providing that LNC provides LNCI with all the assets and liabilities related to its real estate development services business and its ancillary support services business to the group's subsidiaries (the "Contribution"). The Contribution Agreement was signed on October 11, 2019.
The shareholders of LNC and LNCI will be convened at a general meeting on November 21, 2019 to approve the Contribution Agreement and the resulting Contribution.
As part of the decisions submitted to Shareholders' Meetings, it will also be proposed to the shareholders to amend the name of LNC to adopt the name "BASSAC" and to change the name of LNCI to the name "LES NOUVEAUX CONSTRUCTEURS".
Subject to the approval of the LNC and LNCI General Meetings, the Contribution is expected to be effective and effective on January 1, 2020, at the legal, accounting and tax levels.
Reports and other documents relating to the Contribution transaction will be made available to the public at the registered offices of LNC and LNCI (50, route de la Reine, 92100 Boulogne-Billancourt) and may be consulted on the respective websites. of the company Les Nouveaux Constructeurs (https://www.lesnouveauxconstructeurs.fr/le-groupe/finance/) and the company LES NOUVEAUX CONSTRUCTEURS INVESTISSEMENT (http://lncinvestissement.fr/).
THE NEW BUILDERS
The Company, founded by Olivier Mitterrand, is a major player in the promotion of new homes and offices in France and two European countries. Since 1972, Les Nouveaux Constructeurs has delivered more than 80,000 apartments and detached houses in France and abroad. Solidly established in France, its presence in eight of the country's major agglomerations and the quality of its programs have made Les Nouveaux Constructeurs one of the recognized names in the profession. Les Nouveaux Constructeurs has been listed on Euronext Paris since 2006 (compartment B, code "LNC" – ISIN code: FR0004023208).
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|Analyst and Investor Relations|
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Email: [email protected]
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