TechnipFMC Announces Voluntary Delisting from Euronext Paris
TechnipFMC (NYSE: FTI) announced its voluntary delisting from Euronext Paris as part of a strategic refocus on being a pure-play technology and services provider. This decision is expected to streamline operations and reduce costs, enabling a more efficient allocation of resources toward enhancing shareholder value. Following the delisting, shares will continue to be traded exclusively on the NYSE. Shareholders will have options to retain or sell their Euronext shares through a voluntary sales facility set to commence on
- Voluntary delisting from Euronext Paris to focus on NYSE listing.
- Anticipated cost savings from reduced administrative burdens.
- Strategic alignment with peer companies in the energy sector.
- Potential loss of liquidity and trading flexibility for Euronext shareholders.
Following the partial spin-off of Technip Energies and the progressive selldown of the Company’s remaining ownership stake, the Company has refocused as a pure-play technology and services provider to the traditional and new energies industries. It now has its principal place of business in
The delisting has been approved by the Board of Directors of
The holders of
-
keep their TFMC Euronext Shares, which they will be able to trade on Euronext Paris until the day before the delisting date and on the NYSE thereafter through the facilities of
The Depositary Trust Company (“DTC”), subject to the terms applied by their financial intermediary and their custody arrangements; or - participate in a voluntary sales facility (described below) to sell all or part of their TFMC Euronext Shares, in accordance with the rules and regulations of Euronext Paris.
For the avoidance of doubt, holders of TFMC Euronext Shares will be able to trade on Euronext Paris until
Procedure of the Voluntary Sales Facility
Shareholders who wish to sell their TFMC Euronext Shares utilizing the voluntary sales facility should request that their financial intermediaries deliver their TFMC Euronext Shares to Société Générale, acting as centralizing agent, at any time from
TFMC Euronext Shares delivered to Société Générale will be sold on the NYSE as from
Société Générale will calculate the average sales price of TFMC Euronext Shares sold during the sales period and transfer the sale proceeds (which will be converted into euros from
The Company will pay the fees for the centralization and the brokerage fee related to the sale of TFMC Euronext Shares delivered to Société Générale as part of the voluntary sales facility.
This voluntary sales facility procedure is also described in a Euronext notice to be published on
Please note that no guarantee can be given by the Company or by Société Générale as to the price at which the TFMC Euronext Shares tendered pursuant to the voluntary sales facility will actually be sold. This process is being provided solely as an accommodation to holders of TFMC Euronext Shares.
Shareholders may decide not to participate in the voluntary sales facility or may decide not to take any action, in which case no guarantee can be given to them on the terms that will be applied by their financial intermediary after the delisting. Shareholders are urged to consult their own investment advisors before making a decision to participate or not in this process.
The calendar of the voluntary sales facility and the delisting of the Company described above is summarized as follows (it being specified that the Company reserves the right to amend this calendar):
Event |
Date |
|
Voluntary Sales Facility |
|
|
Beginning of the voluntary sales facility |
|
|
End of the voluntary sales facility |
|
|
End of the centralization by Société Générale |
|
|
Sale on the NYSE of the shares tendered in the voluntary sales facility |
Beginning |
|
Settlement of the proceeds of the sale to the relevant financial institutions |
As soon as possible after receipt of the proceeds of the sale |
|
Delisting |
|
|
Last day of trading of the Company’s shares on Euronext Paris |
|
|
Delisting of TFMC Euronext Shares on Euronext Paris |
|
|
Removal of TFMC Euronext Shares from the operations of |
|
Shareholders participating in the voluntary sales facility are reminded that they acknowledge and accept the risks related to the change in the share market price and/or applicable foreign exchange rates between the date on which their shares are delivered to Société Générale for participation in the voluntary sales facility and the receipt of the applicable average sale proceeds. All tenders of TFMC Euronext Shares under the voluntary sales facility will be irrevocable.
Shareholders who would like additional information about the voluntary sales facility or the delisting procedure may contact the Company toll free in
About
With our proprietary technologies and comprehensive solutions, we are transforming our clients’ project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.
Organized in two business segments —
Each of our approximately 20,000 employees is driven by a commitment to our clients’ success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.
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