Fnac definition
Examples of Fnac in a sentence
The Fnac Board believes that the Proposed Acquisition will result in compelling financial benefits to the Combined Group, including total annual pre-tax cost savings of at least €85 million per annum.
Fnac will prepare and make available to Fnac Shareholders the Fnac Notice convening the Fnac Extraordinary General Meeting and the Fnac Board Report.
The Proposed Acquisition is conditional on Fnac receiving a notice from Euronext Paris providing for the admission of the New Fnac Shares to trading on Euronext Paris.
Relevant documentation (including the Fnac Prospectus) will be sent to Darty Shareholders (other than to certain Darty Shareholders who are ordinarily resident in, or citizens of, a Restricted Jurisdiction) and, for information purposes, to persons with information rights and to participants in the Darty Share Plan, following the satisfaction (or waiver) of the Pre-Conditions.
Upon the Scheme becoming effective, it will be binding on all Darty Shareholders, irrespective of whether or not they attended or voted at the Darty Meetings in connection with the Scheme, and it is expected that the New Fnac Shares will be issued by Fnac to Scheme Shareholders on the Business Day immediately following delivery of a copy of the Scheme Order to the Registrar of Companies at Companies House.
Darty Shareholders are advised to read carefully the Scheme Document, the Fnac Prospectus, and the forms of proxy once these have been despatched.
If the Proposed Acquisition is implemented by way of a scheme of arrangement, the New Fnac Shares are expected to be issued in reliance upon the exemption from the registration requirements of the US Securities Act provided by Section 3(a)(10) of the US Securities Act.
The Co-operation Agreement requires Fnac to prepare, publish, make available and distribute (if applicable) the Fnac Board Report, Fnac Notice and Fnac Prospectus as promptly as reasonably practicable following satisfaction or waiver of the Pre-Conditions, and in any event within 30 days thereof.
Following the Darty Meetings, the Scheme must be sanctioned by the Court no later than the 22nd day after the expected date of the Scheme Hearing to be set out in the Scheme Document in due course (or such later date as may be agreed between Fnac and ▇▇▇▇▇).
Fnac reserves the right, with the consent of the Panel, and subject to the terms of the Co-operation Agreement, to elect to implement the Proposed Acquisition by way of a takeover offer under Part 28 of the Act.