Following the acquisition of VOO by Orange Belgium, Nethys retained 25% + one share in VOO. As part of this transaction, Nethys has the option of converting its stake in VOO into Orange Belgium shares, while retaining the governance rights associated with its stake in VOO once it has acquired a stake in Orange Belgium. Following a press article published today, Orange Belgium confirms that discussions with Nethys are ongoing with a view to implementing this operation. By contributing its stake in VOO, Nethys would obtain a stake in Orange Belgium of around 11%.
If applicable, this operation will fall within the scope of the procedure provided for in article 7:97 of the Companies and Associations Code, and will therefore be analyzed 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. This operation will then have to be approved by the General Assembly of Orange Belgium.