00:00On December 9, the Vivendi Combined Shareholders Meeting will vote on the group's spinoff project.
00:08Assuming the split project is approved, Canel, Plus, Havas and Louis Hachette Group,
00:13which will bring together Lagardère and Prisma Media, will be independent and listed companies.
00:18The very high conglomerate discount assigned to Vivendi significantly reduces its market value
00:24and limits the ability of its subsidiaries to make acquisitions.
00:28To fully unleash the development potential of all its activities, the group has decided to initiate a split.
00:35Here are the main points you need to know.
00:37If the operation is approved, Canel, Plus will be listed on the London Stock Exchange in Pound Sterling.
00:44Havas will be listed on Euronext Amsterdam in Euros
00:48and Louis Hachette Group on Euronext Growth in Paris in Euros.
00:52Vivendi will continue to be listed on Euronext Paris.
00:55For every Vivendi share you hold on December 13, you will receive one Canel, Plus share,
01:01one Havas share and one Louis Hachette Group share, while keeping your Vivendi share.
01:06If your Vivendi shares are invested in a share savings account, a PEA in French,
01:12they will remain in that account and the Canel, Plus, Havas and Louis Hachette Group shares can also be placed in the same account.
01:20The split will be treated partly as a return of capital, which is not taxed because it does not constitute income,
01:26and partly as a distribution from reserves, which will be taxed.
01:30The amount of the Vivendi distributable reserves stood at 4.231 billion Euros, i.e. 4.27 Euros per share.
01:38If you are a French tax resident and your Vivendi shares are invested in a share savings account, a PEA in French,
01:45the spinoff will not be taxable.
01:47If you are a French tax resident and your Vivendi shares are held in an ordinary securities account, a tax of 1.28 Euros will be applied.
01:56If you are a direct registered shareholder, you will pay the tax in shares.
02:01If you hold bearer shares and are an administered registered shareholder, you will pay the tax in cash, as instructed by your bank.
02:08When you sell your Canel, Plus, Havas or Louis Hachette Group shares,
02:12the first quoted price of the shares of these entities will be considered as the purchase price and determine your capital gain or loss.
02:20When you sell your Vivendi shares, to calculate your capital gain or loss,
02:24your purchase price must be adjusted to account for the portion of the spinoff that constitutes a return of capital, which is not classified as income.
02:33If you are a French tax resident and either an administered registered shareholder or hold bearer shares in a securities account,
02:40you can contact your bank to find out the exact procedures for paying taxes and whether there will be any change to your investment management fee.
02:48If you are a direct registered shareholder, Optavia will send you details about how the transaction will be carried out.
02:55Information about the spinoff is available on the Vivendi website, particularly in the Vivendi information document provided there.
03:02Alternatively, you can call the following toll-free number, 0805 050 050.
03:09We also encourage you to consult your usual tax advisor.
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