Upon completion of the merger, each Destination Maternity shareholder will receive 0.5,150 of an Orchestra-Prémaman ordinary share in the form of American depositary shares. This stock for stock transaction is expected to be tax-free for US federal income tax purposes to Destination Maternity shareholders.
Work is proceeding on the preparation of the registration statement on form F-4 to be filed with the Securities and Exchange Commission (SEC) covering the shares of Orchestra- Prémaman, represented by American depositary shares. These shares will be transferred to holders of Destination Maternity shares in exchange therefore upon completion with the merger, as well as the coordinated filing with Orchestra-Prémaman's French regulator, the Autorité des marchés financiers (AMF).
After closing, Destination Maternity shareholders will own 28 per cent of the combined business immediately after the merger, including approximately 3 per cent to be acquired by an affiliate of Orchestra-Prémaman due to the Destination Maternity shares it owns. (RR)
ALCHEMPro News Desk – India
Receive daily prices and market insights straight to your inbox. Subscribe to AlchemPro Weekly!
marketing@alchempro.com
