VEOM Group conducts capital reduction

VEOM Group, a major player in the Smart Home market in Europe, held an extraordinary general meeting (EGM) on April 24, 2024. The event took place in Montpellier under the chairmanship of Alain Molinie, Chairman of the Board of administration. This meeting notably led to a significant reduction in the share capital.

The EGM resolved to reduce the share capital not motivated by losses, reducing the par value of each share from €1.00 to €0.01. The capital was thus adjusted to €36,592.43, divided into 3,659,243 shares. As this transformation is not a consequence of losses, a period of twenty days has been opened to allow the company's creditors to oppose this measure, in accordance with the legislation in force.

The report was filed with the Registry of the Montpellier Commercial Court on April 25, 2024. Following the opposition period, which expires on May 15, 2024, the capital reduction will be officially recognized.