SMCP Converts Preferred Shares into Ordinary Shares

In a strategic move dated January 3rd, 2025, SMCP finalized the conversion of 697,343 class G preferred shares (ADP G) into 2,735,711 ordinary shares. This action follows the partial conversion of ADP G shares between 2019 and 2024, where 595,755 shares were transformed into 2,337,162 ordinary shares. Initially, 1,293,098 ADP G shares were issued to 98 key executives, including founders Evelyne Chétrite and Judith Milgrom.

As of December 31st, 2024, SMCP's share capital included 76,288,530 shares, which expanded to 78,326,898 following this recent conversion. Notably, these new shares increase the founders' and managers' holdings to 10.3% of the company's capital and 14.7% of voting rights.

SMCP anticipates that these new shareholders will sell the ordinary shares influenced by tax considerations within the year. The company aims to leverage an investment services provider to facilitate these transactions efficiently.