PARIS--(BUSINESS WIRE)--Regulatory News:
A Supervisory Board of Mediawan (Paris:MDWP) was held on April 28th to approve the financial statements for 2016.
The members of the Supervisory Board present and represented at this meeting unanimously approved the financial statements for the 2016 financial year which have been adopted by the Management Board on April 20th. The Statutory Auditors also confirmed that they had no observation on these accounts.
However, as some members only participated by means of conference call, the quorum required under Article L. 225-82 paragraph 3 of the French Commercial Code could not be formally reached.
As a result, another Supervisory Board will be held as soon as possible, prior to the convening of the annual general meeting, in order to confirm the position expressed by the members of the Supervisory Board on April 28th, in accordance with the above-mentioned article of the French Commercial Code.
The financial statements for the year ended December 31st 2016 and the management report prepared by the Management Board, which will be submitted to the next Supervisory Board, are available on the Company's website (www.mediawan.fr).
Mediawan was incorporated as a Special Purpose Acquisition Company (SPAC) for the purpose of acquiring one or more operating businesses or companies through a merger, capital stock exchange, share purchase, asset acquisition, reorganization or similar transaction. In April 2016, Mediawan raised €250 million from institutional investors and was listed on the professional segment (Compartiment Professionel) of the regulated market of Euronext Paris. The Company was formed by Pierre-Antoine Capton, Xavier Niel and Matthieu Pigasse. Pierre-Antoine Capton is the founder of 3e OEil Productions, which is currently the largest French independent media producer. Xavier Niel is the founder and majority shareholder of the Iliad Group, a leading French convergent telecom operator listed in Paris which owns Free. He is also a very active business angel investor worldwide with Kima Ventures, his own investment fund, one of the world’s most active early-stage investors which invests in 50 to 100 start-ups a year throughout the world. Matthieu Pigasse is the Global Head of M&A and Sovereign Advisory at Lazard Group, as well as the CEO of Lazard France. He is a shareholder in a number of media groups in France: major shareholder of Radio Nova, owner of Le Monde Group and L’Obs with Xavier Niel and Pierre Bergé, and shareholder of the French edition of the Huffington Post, in Vice France, and Melty Group. Following the completion of a proposed Initial Business Combination with the acquisition of Groupe AB in March 2017, Mediawan has become a company operating in the media and content space.
Further information on Mediawan is available at www.mediawan.fr