1 August 2007 - In connection with the agreement dated 8 June 2007 among the historic shareholders of Belvedere (Jacques Rouvroy and Christophe Trylinski) and CLF Group (see, AMF Decision N¡ã 207C1158, dated 21 June 2007), the transaction involving the reclassification of Belvedere shares and BSAR warrants owned and/or held by CLF Group has been successfully completed with qualified European investors at a price of EUR 167 per share and EUR 82 per BSAR.
This reclassification, which applies to 62% of the share capital, will significantly increase the public float. This transaction was a success notwithstanding volatile market conditions and shows the confidence that investors have in our Group's growth strategy and their willingness to support the historic officers and directors in their ambitious plans to make Belvedere a world class leader in wines and spirits.
Strengthened by the support of this new shareholder group, Belvedere, beginning in the next six months, should be in a position to accelerate:
.its organic growth, especially in the United States and Russia,
.its debt reduction and the complete restructuring of its debt.
Reconstitution of the board of directors
Following the successful completion of the reclassification, Board members CLF (represented by Mr. Arnaud de Trabuc), Mr. Lawrence Duprey, and Mr. André Monteil resigned from Belvedere's Board of Directors on 31 July 2007. This transaction will finally conclude the disagreement that had arisen between the historic shareholders and CLF.
Confirmation of the sale of Pulco and Sirop Sport
As previously announced, the sale of Pulco and Sirop Sport to Orangina should be completed by the end of August, after the competition authorities have ruled.
Belvedere wishes to thank all the shareholders who took part in this transaction, as well as:
¡öH&Associ¨¦s (Philippe HOTTINGUER Group), which acted as global coordinator of the private placement of the CLF securities, Shares Code ISIN: Bucphale Finance, which has advised on the sale of Pulco and Sirop Sport.