CS Board Meeting, held on June 21, 2013, approved the terms of CS’s stock issuance

which will be submitted to the approval to the General Meeting convened on July 15, 2013 (resolution n°17).

Key terms are:

  • Amount: € 15,009,660.4
  • Subscription price: € 1.36 per share
  • Preferential subscription rights in a ratio of 7 new shares for 4 existing shares,
  • New shares: 11.036.515, eg 175% of existing shares (possibility to limit stocks issuance to the amount of subscriptions actually received if at least equal to 75%).

It is recalled that the measures of the Agreement, signed on June 5, 2013 between CS and its banking and financial partners, which are necessary for CS to operate as a going concern, are subject to the completion of this € 15 million stock issuance before August 15, 2013.

Accordingly, CS Board recommends that shareholders vote in favor of this capital increase.
This operation, which will be subject to a prospectus approved by the “Autorités des Marchés Financiers”, is not guaranteed at this stage. Nevertheless, M.Yazid Sabeg indicated to CS Board Meeting his intention to subscribe on an irreducible and reducible basis for an amount between 75% and 89% of this stock issuance.
CS Board also indicates that in addition to strengthening the financial structure, this stock issuance will give CS means for both its organic growth strategy and the initiation of focused external growth policy on its core businesses.

CS is a major actor in the design, integration and operation of mission critical systems. CS is listed on the Euronext Paris stock markets - Compartment C (Shares: Euroclear 7896 / ISIN FR 0007317813).
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