LUXEMBOURG--(BUSINESS WIRE)--Regulatory News:
Eurofins Scientific SE (Paris:ERF):
The board of directors of Eurofins Scientific SE (the Company) is proposing a ten-for-one stock split at the extraordinary general meeting of the Company’s shareholders (EGM) to be held on 16 November 2020.
The Company believes the stock split should improve trading liquidity and make stock ownership more accessible to a broader base of investors, including employees.
Subject to the approval of the stock split at the EGM:
- the existing shares with a nominal value of ten eurocent (EUR 0.10) will be cancelled and each replaced by ten new shares with a nominal value of one eurocent (EUR 0.01);
- the stock split will become effective upon the listing on Euronext Paris of the new shares expected to occur on 19 November 2020.
This will be the second ten-for-one stock split undertaken by the Company since its initial public offering (IPO) on 27 October 1997. Excluding the impact of the first stock split (on 22 May 2000), each Eurofins share issued at the IPO for 120 FF (EUR 18.29) would have been worth EUR 6,956 at market close on 15 October 2020, an increase of 37,932% in 23 years or a compound annual growth rate (CAGR) of 30% (excluding dividends paid out). This compares to a CAGR of 2% for the CAC 40, 9% for the Nasdaq and 6% for the Dow Jones over the same period.
This stock split will not change shareholders' rights, nor should it involve any additional costs or formalities for shareholders. It will not adversely affect the rights of beneficiary units as well as holders of instruments conferring deferred access to the share capital, their rights being fully preserved.
Notes to Editors:
For more information, please visit www.eurofins.com or contact:
About Eurofins – the global leader in bio-analysis
Eurofins Scientific, through its subsidiaries (hereinafter “Eurofins” or “the Group”), believes it is the global leader in food, environmental, pharmaceutical and cosmetics products testing and in agroscience CRO services. It is also one of the global independent market leaders in certain testing and laboratory services for genomics, discovery pharmacology, forensics, CDMO, advanced material sciences and in the support of clinical studies. In addition, Eurofins is one of the leading global emerging players in esoteric and molecular clinical diagnostic testing. With over 48,000 staff across a network of more than 900 independent companies in over 50 countries generally specialised by end client markets and operating more than 800 laboratories, Eurofins offers a portfolio of over 200,000 analytical methods to evaluate the safety, identity, composition, authenticity, origin, traceability and purity of a wide range of products, as well as providing innovative clinical diagnostic testing services. The Group’s objective is to provide its customers with high-quality and innovative services, accurate results on time and, when requested, expert advice by its highly-qualified staff.
Eurofins is committed to pursuing its dynamic growth strategy by expanding both its technology portfolio and its geographic reach. Through R&D and acquisitions, the Group draws on the latest developments in the field of biotechnology and analytical chemistry to offer its clients unique analytical solutions and a very large range of testing methods.
As one of the most innovative and quality-oriented international groups in its industry, Eurofins is ideally positioned to support its clients’ increasingly stringent quality and safety standards and the increasing demands of regulatory authorities and healthcare practitioners around the world.
Shares in Eurofins Scientific are listed on the Euronext Paris Stock Exchange (ISIN FR0000038259, Reuters EUFI.PA, Bloomberg ERF FP).
Until it has been lawfully made public widely by Eurofins through approved distribution channels, this document contains inside information for the purpose of Regulation (EU) 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse, as amended.
This press release contains forward-looking statements and estimates that involve risks and uncertainties. The forward-looking statements and estimates contained herein represent the judgment of Eurofins Scientific’s management as of the date of this release. These forward-looking statements are not guarantees for future performance, and the forward-looking events discussed in this release may not occur. Eurofins Scientific disclaims any intent or obligation to update any of these forward-looking statements and estimates. All statements and estimates are made based on the information available to the Company’s management as of the date of publication, but no guarantees can be made as to their completeness or validity.