Toulouse, 4 May 2022, IGE+XAO Group announces:
The annual general meeting of IGE+XAO shareholders held today approved the merger of IGE+XAO into Schneider Electric SE (compartment A, ISIN code FR0000121972) (“Schneider Electric”), on the basis of an exchange ratio of 5 Schneider Electric shares for 3 IGE+XAO shares. The completion of this merger remains subject to its approval by the annual general meeting of Schneider Electric shareholders to be held on May 5, 2022 at 3:00 pm.
In this context, IGE+XAO confirms that it has requested the suspension of the listing of its shares on Euronext Paris today after the close of trading.
If the proposed merger is approved by Schneider Electric’s annual general meeting of shareholders, the above-mentioned suspension will be maintained until May 10, 2022, at which time the new Schneider Electric shares will be issued and admitted to trading on Euronext Paris and the IGE+XAO shares delisted.
Otherwise, shareholders will be informed of the end of the suspension of the listing of IGE+XAO shares via a new press release.
Holders of IGE+XAO shares having acquired a double voting right before the completion date of the merger would retain such double voting right in Schneider Electric following the merger. Similarly, holders of IGE+XAO registered shares who have not yet acquired double voting rights at the date of the merger would retain, at the end of the merger, the benefit of the seniority acquired in IGE+XAO until the date of the merger, which seniority would be deducted from the holding period required by Schneider Electric in order to obtain double voting rights.
A press release will be issued by IGE+XAO after the annual general meeting of Schneider Electric on May 5, 2022 confirming, in case of approval of the merger project by the latter, the next steps for the completion of the merger.