Orange Belgium confirmed that it was in discussions with Nethys about converting its 25% + 1 share in VOO into Orange Belgium shares. This option is available to Nethys as part of the acquisition of VOO by Orange Belgium.
After obtaining ENODIA's agreement, Nethys today officially informed Orange Belgium that it wishes to initiate the process of converting its stake in VOO into Orange Belgium shares. At the end of this process, Nethys would obtain an 11% stake in Orange Belgium and would retain, once in the capital of Orange Belgium, the governance rights associated with its stake in VOO.
This transaction will be presented to the Orange Belgium Board of Directors in the next few days. To the extent that this transaction falls within the scope of the procedure provided for in Article 7:97 of the Companies and Associations Code, it will be analysed by a committee of independent Orange Belgium directors, with the support of an independent expert, who will submit an opinion to the Board of Directors. The transaction will then have to be approved by the General Assembly of Orange Belgium.
