Stellantis N.V. (“Stellantis”) announced today that the previously announced conditional distribution (the “Distribution”), pursuant to a capital reduction, by Stellantis to the holders of its common shares of up to 54,297,006 ordinary shares of Faurecia S.E. (“Faurecia”) and up to €308 million in cash, being the proceeds received by Peugeot S.A. from the sale of ordinary shares of Faurecia in October 2020, has become unconditional.
As previously announced, the calendar for the Distribution will be as follows: (i) ex-date on Monday, March 15, 2021; and (ii) record date on Tuesday, March 16, 2021. Holders of Stellantis common shares will be entitled to: (i) 0.017029 ordinary shares of Faurecia; and (ii) €0.096677 for each common share of Stellantis they hold on the record date for the Distribution. The cash portion of the Distribution will be paid on Monday, March 22, 2021, and holders of Stellantis common shares traded on the New York Stock Exchange will receive it in U.S. dollars at the official USD/EUR exchange rate reported by the European Central Bank as of March 11, 2021.
Generally, the ordinary shares of Faurecia will be delivered to holders of Stellantis common shares entitled thereto on Monday, March 22, 2021, subject to the restrictions and requirements set forth below.
As the ordinary shares of Faurecia are not currently eligible for clearing and settlement through the Depository Trust Company (DTC) or on a register maintained in the U.S., in order to receive the Faurecia ordinary shares pursuant to the Distribution, shareholders holding Stellantis common shares in a DTC participant account or as a registered holder on the Stellantis U.S. share register are required to provide details of a securities account with an intermediary participating in Euroclear France on which their entitlement to the Faurecia ordinary shares may be delivered. Stellantis will be unable to deliver any Faurecia ordinary shares to shareholders holding Stellantis common shares in a DTC participant account or as a registered holder on the U.S. Stellantis share register unless they have made a valid election by 4:00 pm (U.S. Eastern Time) on Friday March 26, 2021.
SOURCE: Stellantis
