Somfy / Demerger of the two operating divisions

PR Newswire/Les Echos/ Press release 27 November 2014 Demerger of the two operating divisions The General Meeting held today adopted all the resolutions submitted for its approval. Consequently, it has ratified the demerger of the Group's two operating divisions, Somfy Activities and Somfy Participations, by deciding to proceed with an exceptional distribution of reserves either in a cash payment or in shares in the Edify company(1), at the discretion of shareholders. Somfy's shareholders will therefore be offered the option of receiving one Edify share valued at EUR50, or a gross cash amount of EUR50, for each Somfy share held. They must indicate their preference to the paying agent, Société Générale, between the ex-dividend date of 2 December 2014 and close of business on 12 December 2014. At the General Meeting, Somfy's majority shareholder confirmed that it had decided to opt for payment in Edify shares. The amount of EUR50 per Somfy share for the cash payment has been determined based on the valuation of Edify at EUR253 million, split between the 5,060,620 shares comprising the capital of said company. The firm Valphi, acting as independent expert, found the financial terms of the transactions to be fair to Somfy shareholders, in a report dated 9 October 2014 and attached to the prospectus for admission of the Edify share to the official listing and trading on the Euro MTF organised market of the Luxembourg Stock Exchange, which can be downloaded from Somfy's website (www.somfy.com). Edify shares will start trading on the Luxembourg Stock Exchange on the day the distribution is made, scheduled for 19 December. Contacts Somfy: Pierre Ribeiro - Tel: +33 4 50 40 48 49 / Jean-Michel Jaud - Tel: +33 4 50 96 70 65 Shan: François-Xavier Dupont - Tel: +33 1 44 50 58 74 (1) Edify was incorporated on 16 September 2014. All Somfy Participations assets were transferred to it, with the exception of securities in CIAT and FAAC. The content and accuracy of news releases published on this site and/or distributed by PR Newswire or its partners are the sole responsibility of the originating company or organisation. Whilst every effort is made to ensure the accuracy of our services, such releases are not actively monitored or reviewed by PR Newswire or its partners and under no circumstances shall PR Newswire or its partners be liable for any loss or damage resulting from the use of such information. All information should be checked prior to publication.