NEW YORK, March 26, 2015 /PRNewswire/ -- P. Schoenfeld
Asset Management LP ("PSAM") today announced that Vivendi (EPA:
VIV) (the "Company") shareholders will be able to vote for the two
resolutions (the "PSAM Resolutions") that PSAM submitted to the
Vivendi Management Board at the Company's Annual General Meeting,
to take place on April 17. The Company announced they will
publish the PSAM Resolutions for shareholders to consider on
March 27.
As outlined in the Vivendi company bylaws, all Vivendi
shareholders who own physical shares of the Company as of the
record date, 11:59PM UTC
(5:59PM ET) on April 14, 2015, will be eligible to vote.
PSAM also reminds all Vivendi shareholders who own shares of the
Company via derivatives that they need to have their holdings in
physical form on the Record Date in order to be eligible to vote at
the Annual General Meeting. Shareholders will not be entitled
to vote economic holdings held via derivatives. Shareholders
who have any questions or need assistance in voting should contact
their bank or broker custodian or PSAM's adviser, MacKenzie
Partners, Inc. at 212-929-5500.
As PSAM announced on March 23, it
believes that Vivendi is significantly undervalued due to its
excessive cash holdings, inadequate capital return policy and the
uncertainty over Vivendi's future use of its capital.
Accordingly, PSAM urges Vivendi shareholders to vote FOR its
resolutions, which propose that Vivendi distribute an aggregate
amount of €9 billion (€ 6.66 per share) in an effort to close the
valuation discount. Specifically, the PSAM Proposals
stipulate that the payment to Vivendi shareholders would be in the
form of a special dividend as follows:
1. An amount equal to
€2,857,546,032.35 from distributable profit for the year ended
31 December 2014; and
2. An amount equal to
€6,142,453,967.65 from share issue premium, merger premium and
contribution premium.
For more information, including the white paper that PSAM sent
to the Vivendi management board on March
23, please visit www.valuecreationatviv.com.
About PSAM
PSAM was founded by Peter M. Schoenfeld and has been providing
investment advisory services since 1997, with offices in
New York and London. PSAM
has approximately $3.4 billion in
assets under management and invests in both equity and credit
securities in global event driven opportunities.
Additional Information
This press release is for
informational purposes only and is not intended to constitute, and
should not be construed as, an offer to sell, a solicitation of any
offer to buy, an offer to purchase or a solicitation of consents
with regard to any securities of Vivendi (the "Company", and such
securities, the "Securities").
This release may contain forward-looking statements. Such
statements can be identified by the use of forward-looking
terminology such as "believes," "expects," "intends," "may,"
"estimates," "will," "should," "plans" or "anticipates" or the
negative thereof or other variations thereon or comparable
terminology, or by discussions of strategy. These forward-looking
statements involve a number of risks and uncertainties that could
cause actual results to differ materially from the suggested by the
forward-looking statements. The information provided in this press
release is derived from PSAM's analysis and subjective views on the
Company and its Securities. Other persons, including the Company,
may have different analysis and views on the information provided
herein.
No reliance is accepted on this press release and PSAM disclaims
any liability in relation to this press release. Investors shall
only rely on their own assessment prior to taking any decision in
relation to the Company and/or the Securities. PSAM do not
undertake any obligation to publicly release any revisions to these
forward-looking statements to reflect events or circumstances after
the date hereof or to reflect the occurrence of unanticipated
events.
For Investor Inquiries:
MacKenzie Partners, Inc.
Dan Burch/Bob Marese
212-929-5500 / +44 20 3026 2807
dburch@mackenziepartners.com / bmarese@mackenziepartners.com
For Media Inquiries:
Image 7
Anne- France Malrieu
Ph : + 33 1 53 70 74 66
C : + 33 6 89 8 761 18
afmalrieu@image7.fr
Estelle Guillot-Tantay
Ph : + 33 1 53 70 74 93
C : + 33 6 87 60 49 58
egt@image7.fr
ASC Advisors
Steve Bruce/Taylor Ingraham
(203) 992-1230
sbruce@ascadvisors.com / tingraham@ascadvisors.com
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SOURCE P. Schoenfeld Asset Management LP ("PSAM")