Back to the simplified tender offer - Emmanuel Picot, Chairman

You filed a simplified tender offer. What motivated your desire to bring about a delisting?

Emmanuel Picot: In September 2019, Evolis was the object of a friendly simplified tender offer initiated by Cedys & Co, a holding company created by Evolis's founders and some longstanding shareholders.

This decision was motivated by three main factors:

• While our initial public offering in 2006 allowed us to fund our growth and boost our credibility with major clients, we now no longer plan to use stock market leverage to pursue our development.
• In recent years, the fluctuation of our markets, particularly the Asian market, combined with the more extensive diversification of our activities, is making it more complex to manage the Group. In order to respond to these new challenges, we have embarked upon an ambitious program of investments and wish to devote our full attention to the development of the Group.
• This changeable and uncertain situation is having an impact on the Evolis share price, the volatility of which is damaging the reputation of the Group as well as our relations with all our stakeholders: our customers, suppliers, partners, and also our employees.

The simplified tender offer was brought to a close on October 18, 2019. What were the results?

Emmanuel Picot: Following the transaction, Cedys & Co had acquired 953,354 Evolis shares out of the 1.9 million affected by the transaction. The capital held by the cofounders and longstanding shareholders is therefore 80.66 % of the Group's total capital.
In order for a squeeze-out to be considered, Cedys & Co had to hold at least 90 % of Evolis shares. As a result, the squeeze-out could not be triggered and Evolis remains listed on Euronext Growth.
We sincerely thank all the partners and shareholders who contributed to this offer for the trust that they have placed in us over the years.

What is the impact of remaining a listed company for the Evolis group, and what are the next steps?

Emmanuel Picot: This result in no way alters our will and determination to continue to evolve the Group in the collective interest. We will be making every possible effort to become more independent and we reaffirm our desire to regain 100 % control of Evolis.