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NYSE Euronext Receives €399 Million Payment From LCH.Clearnet For Repurchase Of Shares

Date 27/07/2007

NYSE Euronext (NYSE Euronext: NYX) announced today that, as previously agreed by the parties, LCH.Clearnet Group Limited (LCH.Clearnet) has:
  • Redeemed all of the outstanding LCH.Clearnet redeemable convertible preference shares (RCPSs) (initially redeemable in December 2008) held by NYSE Euronext at a redemption value of €199 million, and

  • Repurchased 20 million LCH.Clearnet ordinary shares held by NYSE Euronext at a cost of   €10 per share, the market value of the shares when issued in December 2003 in connection with the creation of LCH.Clearnet.

Total proceeds to NYSE Euronext from the sale equal €399 million ($548 million).

According to the agreement between the parties, LCH.Clearnet is also expected to repurchase an additional 6,183,362 ordinary shares from NYSE Euronext at a price of €61.8 million by April 2008, subject to certain conditions. Following the second repurchase, NYSE Euronext will retain a 5% stake in LCH.Clearnet’s outstanding share capital and will have the right to appoint one director to LCH.Clearnet’s Board of Directors.