Somfy / Exit from Faac share capital

PR Newswire/Les Echos/ PRESS RELEASE 5 MAY 2015 EXIT FROM FAAC SHARE CAPITAL Faac and Somfy Groups have concluded that there are no joint development projects and have therefore decided to undo the existing capital links (Somfy's 34% holding in the share capital of Faac and Faac's 7.3% stake in Somfy). The transaction to unwind their respective interests will involve the exercise of a statutory right of withdrawal and will thus result in the cancellation of Faac's shares held by Somfy. As consideration for this, Somfy will receive the 571,400 Somfy shares held by Faac and a balancing cash adjustment of EUR50.7 million. A portion of these shares will be cancelled in order to limit the percentage of the treasury shares held by Somfy to 7.2% following the transfer. The various arrangements related to the transaction should take effect within the next few days and should therefore be included in the financial statements for the first half-year. / CORPORATE PROFILE Somfy Group is the global leader in opening and closing automation for both residential and commercial buildings. / CONTACTS Somfy Pierre Ribeiro: +33 4 50 40 48 49 Jean-Michel Jaud: +33 4 50 96 70 65 Shan Fr-Xavier Dupont: +33 1 44 50 58 74 somfy group.com 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.