The Autorité Des Marchés Financiers Wishes To Reiterate To Issuers Their Obligation To Provide Information When Issuing Equity Securities Or Securities Giving Access To Capital Of The Issuer Without A Prospectus

In position 2013-03, the AMF specifies the information to be given to the market when issuing equity securities or giving access to capital when a prospectus is not published.

Certain issues of equity securities or securities giving access to capital do not require a prospectus. Issuers, who are subject to permanent disclosure obligations, must nevertheless ensure they provide the market with all useful information about these operations. Concerned that all investors have access to an equivalent level of information, the AMF reiterates, in position 2013-03, the minimum information that must be  included  in  releases  announcing  these  operations.  This  information  includes  the  nature  of  the operation, the type of offer, its legal framework, the amount and the reasons for the issue.

This position applies to issues open to the public but that do not constitute public offers (of an amount less than €5 million and not representing more than 50% of the capital). It also applies to private placement.