Aims to delist NHOA (Il Sole 24 Ore Radiocor) - Paris, 13 Jun - Taiwan Cement Corporation (TCC), the indirect majority shareholder of French energy storage company NHOA, formerly Engie EPS, said it will file a simplified tender offer for NHOA shares at a price of 1.10 euros each and, if legal conditions are met, to squeeze out remaining shareholders, resulting in its delisting.

TCC, indirectly through Taiwan Cement Europe Holdings (TCEH), owns 244,557,486 NHOA shares, representing about 88.87% of NHOA's share capital and theoretical voting rights.

The 1.10 euros per NHOA share price represents a premium of 88% over the last closing share price on June 12, 2024, as well as premiums of 88%, 71%, and 66% respectively compared to the volume-weighted average prices over the 60, 120, and 180 trading days preceding that date.

TCC noted that NHOA's development requires significant investments that will be easier to decide on and implement as a non-listed company. A private ownership would enable NHOA to more efficiently implement long-term strategies without the pressures of the financial markets' expectations, regulatory costs, and sensitivity to share price fluctuations.

TCC also noted that the listing is not beneficial to NHOA considering the low volume of trading and the company's shareholder structure.

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(RADIOCOR) 13-06-24 09:42:35 (0185) 5 NNNN