Alfa S.A.B. de C.V. issued the following announcement on Dec. 4.
ALFA, SAB de CV (BMV: ALFA) (“ALFA”) announced today to its shareholders the distribution mechanism of Controladora Nemak's shares, after having received authorization of the CNBV for the registration of said shares in the National Securities Registry (“RNV”).
“We are just days away from completing the first big step in our Value Unlocking strategy. Nemak will soon become the first completely independent ALFA company for the benefit of our shareholders, ”said Álvaro Fernández Garza, ALFA's CEO.
In accordance with the provisions of the applicable legal provisions, ALFA published an Informative Prospectus and a Notice to Shareholders detailing the information required in advance of the distribution and listing of the shares of Controladora Nemak on the Mexican Stock Exchange (BMV) .
Distribution and Start of Trading of the shares of Controladora Nemak
ALFA shareholders will receive one share of Controladora Nemak for each share they own in ALFA on December 11, 2020 at the close of the Market.
The starting date for the listing of the shares of Controladora Nemak and ALFA (ExDerecho) on the BMV will be December 14, 2020.
Relevant considerations:
• 4,909,211,020 shares of Controladora Nemak will be registered in the RNV.
• ALFA owned 75.24% of Nemak's shares.
• ALFA transferred its total stake in Nemak to Controladora Nemak.
• Controller Nemak will be listed on the BMV under the ticker "NMK".
• The number of shares of Nemak (BMV: NEMAK) remains unchanged.
Reference prices of Controladora Nemak and ALFA (ExDerecho) for their respective starts of trading on December 14, 2020.
The reference price for the start of trading of Controladora Nemak will be determined based on the following calculations:
• Nemak closing price on December 11, 2020 multiplied by the number of Nemak shares (3,080'747,324) equals Nemak's market value.
• The market value of Nemak multiplied by 0.7524 (factor equivalent to the percentage of ALFA's equity interest in Nemak before the spin-off) is equal to the market value of Controladora Nemak.
• The market value of Controladora Nemak between the number of shares of Controladora Nemak is equal to the reference price per share of Controladora Nemak for the start of its trading on December 14, 2020.
In accordance with the BMV, the reference price for the start of the listing of ALFA (ExDerecho) will be determined based on the following calculations:
• Closing price of ALFA on December 11, 2020 less the reference price per share of Controladora Nemak is equal to the reference price per share of ALFA (ExRight) for the start of its trading on December 14, 2020.
Nemak's share price will follow its normal listing process without adjustments other than market movements.
For more information on the registration, distribution, listing and quotation of the shares of Controladora Nemak, please consult the Information Brochure that is available at www.bmv.com, www.gob.mx/cnbv, www.nemak.com and www.alfa.com.mx, as well as the Notice to Shareholders published today through the BMV and CNBV.
Original source can be found here.
Alerts Sign-up