The EDF shareholder employees, who consider themselves cheated by the financial conditions of the renationalization of the electrician, decided this Friday to present a new appeal to obtain an “additional price” for their shares, according to what we learned from their representative.
The representatives of the participants decided “unanimously” to initiate a “compensatory action before the Council of State”, said Martine Faure, president of the Mutual Investment Fund in Shares (FCPE), which represents some 100,000 EDF employees or retirees who have invested their money in the group. In this way, they intend to “invoke the notion of fair compensation for the expropriation of shareholder workers, considering that 12 euros is still not a fair price,” she explained about this resource.
Shareholders demand 15 euros per share
These shareholders disputed for months in multiple appeals the price of 12 euros per share set by the State, demanding a minimum of 15 euros while at the opening of the capital of the energy company, in 2005, the share was worth 32, with a 20% stake. discount for employees at 25.60 euros. On the other hand, they renounce to challenge again the decision of the Financial Markets Authority (AMF) that had declared the State’s simplified takeover bid for EDF shares compliant. The last appeal of this type was rejected on May 2 by the Paris Court of Appeals, giving the State the possibility of reopening the process of taking control.
Shareholders who still own EDF shares will be able to sell them, from May 4 to 17, the date of the final closing of the operation, to the French State, which already owned about 96% of the company’s capital before the decision of the court of appeal . The appeal before the Council of State, which will not have an impact on the takeover bid, will be filed when the forced sale procedure begins, which allows EDF to be renationalized, forcing the remaining shareholders to sell their shares, after the closing of the operation. .
Another of the interested parties in the final appeals challenged by the courts, Colette Neuville, the president of ADAM, who has been defending minority shareholders for 30 years, said on Friday that she had not yet made her decision on a new procedure. With the renationalisation, the public authorities want to spare EDF the limitations of the Stock Market to allow it to reactivate nuclear energy more quickly by financing the expansion of an aging fleet, at a time when Russian gas is lacking, and construction in the coming decades. at least six new reactors.
Source: BFM TV
