Econocom announces the withdrawal of the refund of the issue premium of 12 cents per share and the signature of an agreement for the sale of EBC

Withdrawal of the refund of the issue premium

Considering the effects of the Covid-19 health crisis and in a spirit of responsibility, the Board of Directors of Econocom Group SE, at its meeting of 14 April 2020, unanimously decided not to propose to the next General Meeting of Shareholders the refund of the issue premium for an amount of 12 cents per share, as initially planned.

 

Agreement for the sale of the company EBC

Following the press release of 28 February 2020, and after consulting with the employee representative bodies, Econocom announces that it has signed an agreement with the investment company Chequers Capital for the disposal of its subsidiary EBC (Econocom Business Continuity).

This activity, which employs around 430 people across 27 sites, generated turnover of close to €86 million in 2019.

The completion of the transaction remain notably subject to the agreement of the competition authorities.

 

Quote by Jean-Louis Bouchard, CEO of the Econocom Group: “I am very pleased with this agreement, which will enable the company EBC to pursue its development in Europe.  Econocom, as part of its general digital contracting business, will continue to support its customers in their digital projects thanks to its expertise in the operational coordination of services, equipment and financing”.