Fimalac's Board of Directors met today, June 15, 2016, after the Shareholders' Meeting. During the meeting, the Board mainly decided to reduce the Company's capital by canceling treasury stock and noted that the process for the acquisition of an office building in New York had been completed.
The Board of Directors decided to reduce Fimalac's share capital, comprising 26,920,000 shares, by canceling 780,000 shares held in treasury , representing 2.90% of the issued capital. Following these cancelations, the issued capital now comprises 26,140,000 shares.
As of May 31, 2016, Fimalac held 1,909,740 shares in treasury, 1,700,000 of which were tendered to the successful buyback offer that closed on May 12. As planned in connection with this offer, the capital reduction decided today is a first step and the remaining shares tendered to the offer will be canceled as from April 2017 in line with the legal restrictions on the proportion of outstanding shares cancelable in given periods. Following today's capital reduction, 4.32% of the new capital is held in treasury. Groupe Marc de Lacharrière, Fimalac's majority shareholder, holds 89.78% of the new capital, in concert principally with Marc Ladreit de Lacharrière and the Culture & Diversité Foundation.
On April 18, Fimalac announced that it had signed an agreement to acquire a
New York office building
which also comprises retail units. The acquisition has now been completed, at a price of
, financed by a combination of cash and debt.
The roughly 10,000 square meter prime property is located in the most sought-after section of Manhattan, on 5th Avenue between 54th and 55th streets in the prestigious Plaza District close to the Rockefeller Center and Central Park. The lower floors are leased to the international luxury goods group, Valentino.
In the coming weeks, Fimalac expects to also complete the previously announced acquisition of an office building in Levallois-Perret, a suburb of Paris, that is currently leased to its Webedia subsidiary. The property is being acquired at a price of around €106 million, partly financed by a bank loan.
June 15, 2016