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Autorité Des Marchés Financiers Working Group On Alternext: Public Consultation On The Possibility For Euronext Companies To Transfer To Alternext

Date 17/02/2009

The Autorité des marchés financiers (AMF) submitted the recommendations of its Alternext working group for public consultation on 6 October 2008. Chaired by Jean-Pierre Pinatton, the group was charged with studying:
  • the trade-off between flexibility and guarantees under the Alternext rules;
  • ways for Alternext to raise its international profile;
  • the conditions for smooth transition from one trading platform to another.
With regard to the latter two issues, the AMF decided in late 2008 to form a special taskforce in order to:
  • establish the conditions and procedures whereby a Euronext-listed company could transfer to Alternext while ensuring fair valuation of its securities, liquidity for any shareholders wishing to sell up, and proper public disclosure;
  • propose ways in which Alternext could raise its international profile, in particular by ensuring that as many European institutional investors as possible would be eligible to purchase the shares and by making the market attractive to issuers from outside France.

The AMF Board is putting the taskforce's proposals out to public consultation until 27 February 2009). Responses should be sent to contact@amf-france.org.

The Board has also decided to publish a summary of the public consultation on the report of the Alternext working group.

ANNEX: Members of the Alternext taskforce



External members
Laurent Beauvoit (Shearman & Sterling)
Alexis Bouchet-Chatelard (Clasquin)
Martine Charbonnier (NYSE Euronext)
Frédéric Coirier (Poujoulat)
Christian Finan (Bryan Garnier)
Eric Forest (Oddo)
Yasmina Galle (NYSE Euronext)
Pierre-Franck Moley (Le Public Système)
Christian Poyau (Micropole-Univers)
Antoine VALDES (Alto Invest)
Caroline Weber (Middlenext)


AMF
Jean-Pierre Pinatton, Board member
Hubert Reynier
Benoît de Juvigny
Bertrand Durupt
Patricia Choquet Le Quang Tran Van
Xavier Jalain
François Gilbert
Florence Aguedo
Maryline Dutreuil-Boulignac