Michelin CGDE : Share split effective on June 16, 2022
June 16, 2022 at 01:53 pm IST
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Share split effective on June 16, 2022
As announced in the press release published on May 16, 2022, Michelin's four-for-one stock split is effective today, June 16, 2022.
It has resulted in the delisting of 178,530,462 existing shares and the listing of 714,121,848 new shares to replace them on Euronext under the new ISIN code FR001400AJ45 (the ML ticker symbol remains unchanged).
This transaction has no impact on the double voting rights attached to the shares under the conditions set out in the Company's Bylaws. It does not incur any costs or formalities for Michelin's shareholders and does not impact their rights in any way.
Yves Chapot, General Manager and Chief Financial Officer of Michelin, said: "The stock split will make the Michelin share more accessible to the general public and employees, and thereby contribute to the Group's commitment to effectively share value. Employee share ownership is a strong indicator of confidence among employees in the Group's future and strategy."
Investor calendar
Delisting of existing shares - Listing of new shares: Thursday, June 16, 2022 (9:00 am)
Record date: Friday, June 17, 2022
Payment date, with first settlement/delivery of the share purchases or sales made on June 16 with the new ISIN code: Monday, June 20, 2022
06/16/2022|PDF - 140.9 Ko
Share split effective on June 16, 2022
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Compagnie Générale des établissements Michelin SA published this content on 16 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 June 2022 08:22:10 UTC.
Compagnie Générale des Etablissements Michelin is one of the world leaders in manufacturing and marketing of tires. The products are mainly sold under the Michelin, BFGoodrich, Kleber, Uniroyal and Taurus brands. Net sales break down by activity as follows:
- sale and distribution of tires (75.2%): tires for light vehicles (67.3% of net sales) and heavy trucks (32.7%). The group also offers services and solutions to improve the efficiency of transportation;
- other (24.8%): sale of specialty tires for agricultural and civil engineering machines, two-wheeled vehicles, and aircraft. In addition, Michelin offers solutions to support travels and trips (road maps and gastronomic and tour guides, ViaMichelin, Tablet and Robert Parker) and develops high-tech materials for many fields.
Net sales are distributed geographically as follows: France (8.8%), Europe (26.1%), North America (39.2%) and other (25.9%).