|Groupe Outremer Telecom announces the success of its initial public offering on Eurolist by Euronext Paris (13/03/2007 18:00)|
The Offer Price is set at 17.00 euros per share
Paris, 13 March 2007
Groupe Outremer Telecom, the leading alternative telecoms operator in the French overseas departments, has announced the definitive terms and the success of its initial public offering on Eurolist by Euronext Paris (compartment B).
Price of the shares offered
The Offer Price is set at 17.00 euros per share.
Division of shares allocated
- 119,255 shares have been allocated to the Open Price Offer (“OPO”), i.e. 1.7% of the shares offered (excluding greenshoe option);
- 6,849,275 shares have been allocated to the Global Placement, i.e. 98.3% of the shares offered (excluding greenshoe option).
- Trading in the shares of Groupe Outremer Telecom is due to start on 14 March 2007 at 10:00 (Paris time) on Eurolist by Euronext Paris;
- Settlement and delivery of the shares allocated in the Offer will take place on 16 March 2007.
NATIXIS and SOCIETE GENERALE Corporate & Investment Banking
Joint Global Coordinators, Lead Managers and Bookrunners
Reasons for the Offer and planned use of proceeds
The purpose of the Offer and the trading of the Company's shares on Eurolist by Euronext Paris is to enable the Company (a) to increase its shareholders' equity by around 25 million euros in order to finance its strong growth; (b) to reduce its acquisition debt (mezzanine financing) and operating debt by a total of around 25 million euros; and (c) to cover the costs incurred in relation to the Company's restructuring and the initial public offering, representing around 6.5 millions euros.
“The success of our initial public offering is a major step for Groupe Outremer Telecom. It will give us unrivalled financial flexibility with which to pursue our aggressive growth strategy in all the territories in which we operate. The group will continue to grow and will offer its customers the benefits of still more innovative, convergent and value-added services, at the best price. I am delighted, on behalf of all my colleagues, that we can now join the ranks of the companies listed on Euronext, and enjoy the support of new shareholders in this adventure, which is only just beginning,” comments Jean-Michel Hégésippe, Chief Executive Officer of Groupe Outremer Telecom.
About Outremer Telecom Group
An integrated operator present in all of the French overseas departments.
Founded in 1986, Groupe Outremer Telecom has established itself in the French overseas departments (Martinique, Guadeloupe, French Guiana and Reunion) as the leading alternative telecoms operator able to offer a full range of fixed line, mobile and internet access services for both residential and business customers.
The keys to its success: a proprietary network and single well known brand, Only
Groupe Outremer Telecom has developed its own telecoms network, enabling it to adopt an aggressive and innovative position as a challenger in a strong growth market.
The company also has a single brand, Only, which has an excellent reputation in all of the overseas departments and conveys an image of quality, leading-edge technology and local presence.
Strategy focusing on further growth in a solid and buoyant market
Groupe Outremer Telecom intends to consolidate its position as the leading alternative operator in the French overseas departments and achieve further strong growth in its internet and mobile subscriber base. Thanks to considerable market potential and capitalising on the success of its activities in the French Guiana and the French Antilles, the company extended its mobile activities to Mayotte at the end of last year and has confirmed the forthcoming launch of its services in Reunion. The group also intends to develop the convergence of its different services, expand its business customer base and offer innovative services thanks to the evolving nature of its network.
Having generated revenues of €78.4 million in 2005, the Group expects 2006 revenues of €123.5 million, an increase of 57.5% compared with 2005. This strong revenue growth stems primarily from the success of its mobile business, with nearly 128,000 subscribers at end-2006 (up 216% compared with end-2005).
Availability of prospectus
Copies of the prospectus having received visa number 07-065 dated 26 February 2007, comprising the base prospectus (“document de base”) registered by the Autorité des Marchés Financiers (“AMF”) on 11 December 2006 under number I.06-190, the updated base prospectus filed with the AMF on 14 February 2007 under number D.06-1258-A01 and a transaction summary (“note d'opération”) are available free of charge from the Company on its website (http://www.outremer-telecom.fr) and on the AMF website (www.amf-france.org).
A notice was published in the Bulletin des Annonces Légales Obligatoires (“BALO”) on 28 February 2007.
Investors are invited to consider the risks described in chapter 4 of Groupe Outremer Telecom's base prospectus and the updated base prospectus and in paragraph 2 of the transaction summary prior to making any investment decision. However, it should be noted that this list of risk factors is not exhaustive and that other risks may exist that are not known or that the Company does not, at the date of the prospectus, consider likely to have a material adverse impact on its activities, financial position, outlook and/or results.
This press release and the information contained herein do not constitute an offer to sell or the solicitation of an offer to purchase shares in Outremer Telecom Group in any country. Shares in Outremer Telecom Group have not been and are not intended to be registered under the United States Securities Act of 1933 as amended ("the US Securities Act") and may not be offered in the United States absent registration with the United States Securities and Exchange Commission or an applicable exemption from registration requirements. Outremer Telecom Group does not intend to register any securities under the US Securities Act or to offer any securities to the public in the United States.
This press release is not for distribution in the United States, Canada, Japan or Australia.