Herzogenaurach, GERMANY - January 11, 2018
Kering SA proposes to distribute PUMA shares to Kering shareholders through a distribution in kind
PUMA welcomes the transaction as it enhances PUMA’s free float and strengthens its capital markets positioning, visibility and opportunities.
PUMA SE (ISIN: DE00069696303 WKN: 696960)
PUMA WAY 1, D-91074 Herzogenaurach
Kering SA (Paris), the major shareholder of PUMA SE with a current shareholding of approx. 86%, today informed the Administrative Board of PUMA SE that it has decided to propose to the Annual General Meeting of Kering SA on April 26, 2018 to distribute to the shareholders of Kering SA, by way of a dividend in kind, a portion of Kering's shareholding in PUMA which corresponds to approx. 70% of the total share capital of PUMA SE.
Kering SA will remain a shareholder of PUMA SE with a shareholding of approx. 16%. Through the distribution in kind, Artémis SA, the controlling shareholder of Kering SA (and thus indirectly of PUMA SE) will receive shares in PUMA SE, representing approximately 29% of the share capital, and will thereby become a direct and, according to its own statement, also a long-term shareholder of PUMA SE. As a result, the future free float of PUMA SE will amount to approx. 55% after the transaction.
The transaction is subject to approval by the Annual General Meeting of Kering SA to be held on April 26, 2018.
The Administrative Board of PUMA SE welcomes the transaction. Kering SA and Artémis SA will remain strong partners of PUMA. The transaction does not affect PUMA’s current strategy, which PUMA will continue to execute and which has already shown initial results. The transaction is expected to improve the liquidity of the PUMA share as a result of a significantly larger free float, which will make it easier for investors to invest in PUMA SE directly.Photo Credits: Conné/ PUMA