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Capital reduction - additional information 07-06-2012

1.     Capital reduction - additional information
The record of the capital reduction by EUR 25 per share decided by the Extraordinary General Meeting of 25 April 2012 was published in the annexes to the Moniteur belge on 11 May 2012. Consequently, the two-month period (protection of creditors) starting from that publication will end on 11 July 2012.

In the absence of opposition from creditors, the timetable for payment of the capital reduction in exchange for coupon 25 will be as follows:

  • Ex-date                            20/7/2012
  • Record date                     24/7/2012
  • Payment date                   25/7/2012

Note that the strip coupon 25 will have no value.

2.     Practical procedures concerning Compagnie du Bois Sauvage warrants or stock options currently in circulation

In the absence of opposition by creditors to the capital reduction, the strike price for the warrants and stock-options in circulation will be reduced by EUR 25 per share as from 20 July 2012, as described in the table below:

Number Current strike price (EUR) New strike price (EUR)
Warrants 2005-2 (10 to 30 June 2013-2015) 132,500 264.00 239.00
Stock options 2006 (1 to 20 April 2012 to 2016) 2,350 257.41 232.41
Stock options 2007 (1 to 20 April 2012 to 2017) 2,300 315.92 290.92
Stock options 2008 (1 to 20 April 2013 to 2018) 2,700 319.50 294.50
Stock options 2008 (1 to 20 April 2013) 100 319.50 294.50
Stock options 2009 (1 to 20 April 2014) 3,150 132.93 107.93
Stock options 2010 (1 to 20 April 2015) 3,400 163.47 138.47

3.     General Comment

The 2005-1 warrant exercisable from 10 to 20 June 2012 at EUR 239.00 per share is currently out of the cash and will expire and without value at the date of the capital reduction.

The adjustment of the procedures for converting the Compagnie du Bois Sauvage bond and the strike price of Compagnie du Bois Sauvage warrants and stock options result from the application of the anti-dilution clauses mentioned in the prospectus of the various issues and in the Stock option plan.

Contact
Bruno Spilliaert, Secrétaire Général
02/227.54.55
bruno.spilliaert@bois-sauvage.be


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