Transaction allows investors to subscribe to Rubis shares under preferential conditions:
– 1 subscription warrant (BSA) is to be granted automatically and free of charge for each Rubis share held at the end of the 31 May 2007 trading session.
-Holders of 9 warrants will be entitled to subscribe to 1 new share, from 1 January 2007.
– The subscription price for the new share is €54, yielding a 19.6% discount off the last price quoted on 28 May 2007 (€69.3, less a dividend of €2.14 per share proposed to the Combined Ordinary and Extraordinary General Meeting of 14 June 2007).
– The subscription period will last from 1 June through 18 June 2007, inclusive; the warrants (ISIN code FR0010474155) may be traded on the Euronext Paris Eurolist throughout the duration of the operation.
– This transaction was authorized by the French Financial Markets Authority (AMF) on 29 May 2007, under no. 07-162.
The scope of industrial operations, results and dividends have all grown sharply since 2005:
– Since 2005, the scope of the Group has expanded to include the distribution of LPG and petroleum products in the Caribbean and Bermuda.
– In 2006, Rubis began construction of a storage terminal in Rotterdam for petroleum and chemical products and created a joint-venture with the BP Group to market LPG bottles in hypermarkets.
-Strong demand for liquid product storage induced the Group to accelerate the expansion and outfitting of its various terminals in France.
– In March 2007, Rubis announced the acquisition of five LPG distribution companies from the Shell group for €50 million.
– Net income, Group share, increased from €15.2 million in 2004 to €30.5 million in 2006, while the dividend rose from €1.50 to €2.14 per share over that same period (amount proposed to the Combined Ordinary and Extraordinary General Meeting of 14 June 2007).
– Lastly, the Group’s net income rose by 10% in the first quarter of 2007, despite difficult conditions.
This transaction, which helps to finance both the recent acquisitions and capital expenditures underway, will provide Rubis with the resources it needs to seize new opportunities in a particularly active climate.
The AMF certified the prospectus for this transaction (no. 07-162) on 29 May 2007; the Company draws readers’ attention to the section in the prospectus on “Risk factors.” The prospectus – which consists of a transaction memorandum, the official annual report (document de reference) filed on 24 April 2007 under no. D.07-370, and the update filed on 29 May 2007 under no. D.07-370.A01 – is available at the Company’s head office; at www.rubis.fr and www.amf-france.org; and from Sodica, the merchant banking advisor (Crédit Agricole group).
Next meeting: Combined Ordinary and Extraordinary General Meeting – Thursday, 14 June 2007