Faurecia opens a new chapter in its history with the decision of the extraordinary general meeting of shareholders of Stellantis to distribute their shares in Faurecia
At today’s Extraordinary General Meeting of Stellantis, the shareholders approved in particular the conditional* distribution of a maximum of 54, 297, 006 Faurecia ordinary shares (representing 39.3% of the capital) on the basis of 0.017029 ordinary shares of Faurecia for each ordinary share of Stellantis.
The timetable foreseen by Stellantis is:
- ex-date Monday March 15, 2021,
- record date Tuesday March 16, 2021
- delivery of Faurecia shares to Stellantis shareholders on or about Monday March 22, 2021 (on or about Thursday April 1, 2021 for those whose actions are held in a «DTC participant» account or who are registered holders on the US Stellantis share register).
This distribution will increase Faurecia’s free float to around 85%, significantly enhance its visibility in the capital markets and allow the Group to affirm its strategy as an independent company.
This strategy, as well as the medium-term perspectives of the Group and each of its Business Groups, was presented at the Capital Markets Day entitled « New Perspectives » held on February 22, 2021. During this event Faurecia demonstrated its strong potential for value creation for all stakeholders and also emphasized the importance of its zero emissions hydrogen solutions and its ESG strategy, in particular its CO2 neutrality initiative. The full event can be viewed in replay on the Group’s website www.faurecia.com
With this decision of the Stellantis shareholders, Faurecia opens a new chapter in its history and its development. With a clear strategy focused on Cockpit of the Future and Sustainable Mobility, and with the strong profitable growth potential of each of its four Business Groups, Faurecia is a major player in the automotive industry. Our innovative technologies and our customer intimacy allow us to offer solutions to meet the increasing challenges of the automotive industry including environmental protection. Our strategy is anchored in a culture based on strong Convictions and Values for sustainable development. I am convinced that Faurecia has all the strengths necessary to create value for all its stakeholders and, as an independent company, will be able to seize growth opportunities in the future.
*conditional upon the further announcement, which is expected to occur in the next few days, that certain Dutch law formalities have been complied with.