IGE+XAO announces that the annual general meetings of shareholders of IGE+XAO and Schneider Electric SE (compartment A, ISIN code FR0000121972) (“Schneider Electric”), held respectively on May 4 and May 5, 2022, have approved the merger of IGE+XAO into Schneider Electric, on the basis of an exchange ratio of 5 Schneider Electric shares for 3 IGE+XAO shares.
The merger leading to the dissolution without liquidation of IGE+XAO has taken effect today following the annual general meeting of Schneider Electric, it being specified that it has retroactive effect for accounting and tax purposes as from January 1, 2022.
The new Schneider Electric shares resulting from the merger will be admitted to trading on compartment A of Euronext Paris under ISIN code FR0000121972 on May 10, 2022, date on which the IGE+XAO shares will be delisted from Euronext Paris.
It is recalled that, in the event that IGE+XAO shareholders do not hold, as of today, the number of IGE+XAO shares necessary to obtain a whole number of Schneider Electric shares, pursuant to the exchange ratio of the merger, the financial intermediaries concerned will (i) sell on the Euronext Paris market the unallocated Schneider Electric shares corresponding to the fractional rights in accordance with the terms and conditions provided for in Articles L. 228-6-1 and R. 228-12 of the French Commercial Code and (ii) distribute the funds thus obtained among the holders of fractional rights in proportion to their rights, within a period of 30 days from May 12, 2022.
About Schneider Electric
Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.
Our mission is to be your digital partner for Sustainability and Efficiency.
We drive digital transformation by integrating world-leading process and energy technologies, endpoint to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.
We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.
Media Contact
Company Name: ABC Private Limited
Contact Person: Media Relations
Email: Send Email
Phone: 8745857610
Country: India
Website: https://www.se.com/in/en/