Vivendi, which owns 100% of Gameloft, a mobile video games company employing 6,000 people, announced today that on December 7, 2016, it exceeded the 25% legal threshold of the Ubisoft share capital, holding 25.15% of the Ubisoft share capital and 22.92% of its voting rights based on the number of outstanding shares and voting rights as reported by Ubisoft on October 31, 2016.
Vivendi, in its declaration filed today with the Autorité des Marchés financiers, the French securities regulator, and published by the AMF on its website, has specified its objectives over the coming six months:
• Vivendi’s acquisitions have been financed using its disposable cash;
• Vivendi is not acting together with any third party in connection with its investment in Ubisoft and has not entered into a temporary sale agreement concerning Ubisoft’s shares or voting rights;
• Vivendi does not hold instruments and is not a party to agreements such as those referred to in paragraphs 4° and 4° bis of Article L.233-9 of the French Code de commerce (Trade Code);
• Vivendi is considering continuing to acquire shares depending on market conditions;
• Vivendi is not considering the launch of a public tender on Ubisoft nor acquiring the control of the company;
• Vivendi is hoping to build a fruitful cooperation with Ubisoft;
• Vivendi continues to seek a recomposition of the Ubisoft Board of Directors in order to, among other things, obtain Board representation consistent with its shareholder position;
• Vivendi’s investment in Ubisoft’s business sector is part of a strategic vision of operational convergence between Vivendi’s content and platform and Ubisoft’s productions in the field of video games. Since this strategy does not require any modification to Ubisoft’s legal or financial organization, Vivendi is not contemplating any of the transactions referred to in Article 223-17, I, 6° of the AMF Règlement Général (General Regulations).