PSAM Resolutions To Be Published For Vivendi Shareholder Vote At Vivendi Annual General Meeting
As outlined in the Vivendi company bylaws, all Vivendi shareholders who own physical shares of the Company as of the record date, 11:59PM UTC (5:59PM ET) on April 14, 2015, will be eligible to vote. PSAM also reminds all Vivendi shareholders who own shares of the Company via derivatives that they need to have their holdings in physical form on the Record Date in order to be eligible to vote at the Annual General Meeting. Shareholders will not be entitled to vote economic holdings held via derivatives. Shareholders who have any questions or need assistance in voting should contact their bank or broker custodian or PSAM's adviser, MacKenzie Partners, Inc. at 212-929-5500.
As PSAM announced on March 23, it believes that Vivendi is significantly undervalued due to its excessive cash holdings, inadequate capital return policy and the uncertainty over Vivendi's future use of its capital. Accordingly, PSAM urges Vivendi shareholders to vote FOR its resolutions, which propose that Vivendi distribute an aggregate amount of €9 billion (€ 6.66 per share) in an effort to close the valuation discount. Specifically, the PSAM Proposals stipulate that the payment to Vivendi shareholders would be in the form of a special dividend as follows:
For more information, including the white paper that PSAM sent to the Vivendi management board on March 23, please visit www.valuecreationatviv.com.
About PSAM
PSAM was founded by Peter M. Schoenfeld and has been providing investment advisory services since 1997, with offices in
New York and London. PSAM has approximately
$3.4 billion in assets under management and invests in both equity and credit securities in global event driven opportunities.
Additional Information
This press release is for informational purposes only and is not intended to constitute, and should not be construed as, an offer to sell, a solicitation of any offer to buy, an offer to purchase or a solicitation of consents with regard to any securities of Vivendi (the "Company", and such securities, the "Securities").
This release may contain forward-looking statements. Such statements can be identified by the use of forward-looking terminology such as "believes," "expects," "intends," "may," "estimates," "will," "should," "plans" or "anticipates" or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy. These forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the suggested by the forward-looking statements. The information provided in this press release is derived from PSAM's analysis and subjective views on the Company and its Securities. Other persons, including the Company, may have different analysis and views on the information provided herein.
No reliance is accepted on this press release and PSAM disclaims any liability in relation to this press release. Investors shall only rely on their own assessment prior to taking any decision in relation to the Company and/or the Securities. PSAM do not undertake any obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
For Investor Inquiries:
MacKenzie Partners, Inc.
Dan Burch/ Bob Marese
212-929-5500 / +44 20 3026 2807
[email protected] / [email protected]
For Media Inquiries:
Image 7
Anne- France Malrieu
Ph : + 33 1 53 70 74 66
C : + 33 6 89 8 761 18
[email protected]
Estelle Guillot-Tantay
Ph : + 33 1 53 70 74 93
C : + 33 6 87 60 49 58
[email protected]
ASC Advisors
Steve Bruce/ Taylor Ingraham
(203) 992-1230
[email protected] / [email protected]
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/psam-resolutions-to-be-published-for-vivendi-shareholder-vote-at-vivendi-annual-general-meeting-300056530.html
