- that becomes the owner, directly or indirectly, of more than one twentieth, one tenth, three twentieths, one fifth, one quarter, one third, one half, two thirds, eighteen twentieths or nineteen twentieths of the capital or voting rights of a listed company in France, such as our company, or
- that increases or decreases its shareholding or voting rights above or below any of those thresholds, must notify the company within 5 trading days of the date it crosses the threshold of the number of shares and ADSs it holds and their voting rights. The individual or entity must also notify the AMF, within five trading days of the date it crosses the threshold by filling a form available on the AMF web site (http://www.amf-france.org, tab "information and decisions" ). The penalty for non disclosure will be the suspension of the investor's voting rights in excess of the relevant threshold for 2 years and/or fine of up to euros 18K.
French company law provides that any individual or entity, acting alone or in concert with others, When the shares of a company having its registered office in France are admitted to trading on a regulated market or a financial instruments market which permits trading in shares which may be entered in the books of an authorized intermediary as provided for in Article L211-4 of the Monetary and Financial Code, any natural person or legal entity, acting alone or jointly, who comes into possession of a number of shares representing more than one twentieth, one tenth, three twentieths, one fifth, one quarter, one third, one half, two thirds, eighteen twentieths or nineteen twentieths of the capital or voting rights shall inform the company of the total number of shares or voting rights it holds within a time limit determined in a Conseil d'Etat decree commencing on the day on which the equity participation threshold was exceeded.
To calculate the shareholdings, the person required to provide the notification shall take account of the shares and voting rights that it holds and determine the portion of capital and voting rights that it holds based on the total number of equities making up the share capital of the company and the total number of voting rights attached to these equities. The total number of voting rights is calculated on the basis of all the equities to which voting rights are attached, including equities whose voting rights have been suspended. You may wish to have a look at “Informations réglémentées” for the latest monthly declaration of the capital and voting rights by InfoVista to the AMF. In addition, our statuts (by-laws) provide that any person acting alone or in concert who becomes, directly or indirectly, the owner of more than 2% of our share capital or voting rights must notify us within 5 trading days by registered mail, return receipt requested, of the number of shares it holds. The same notification requirement applies to each subsequent increase, up to and including 50%, or decrease in ownership of 2% or whole multiples of 2%. If a person does not comply with this notification requirement, one or more shareholders holding 2% or more of our share capital or voting rights may require a shareholders' meeting to deprive the shares in excess of the relevant threshold of voting rights for all shareholders' meetings for two years following the date on which the owner complies with the notification requirements. Notification of the company shall be made at the following address: InfoVista - 6, rue de la Terre de Feu - 91940 Les Ulis - France (fax n° 33 (0) 1 64 86 79 79).
