Dassault Systemes Welcomes Successful Placement of French Government Stake
The placement was oversubscribed more than four times, a testament to investor confidence in the strong fundamentals of our business and our strategy as a world leader in PLM solutions.
PARIS, FRANCE, September 4, 2003 - Dassault Systemes (DS) (Nasdaq: DASTY; Euronext Paris: #13065, DSY PA), a worldwide leading software developer of product lifecycle management (PLM) solutions, welcomes the sale of the French Government's shareholding.
The French Government has held a stake in Dassault Systemes since 31 May 2001. It acquired this holding as a result of Dassault Systemes' de-merger from its former parent company, Dassault Aviation, in which the Government held a stake.
Commenting on the sale, Bernard Charles, President and Chief Executive Officer of DS, said:
"We welcome the sale of the French Government's stake in Dassault Systemes and are delighted to see the very successful placement of the shares. The placement was oversubscribed more than four times which is a testament to investor confidence in the strong fundamentals of our business and our strategy as a world leader in PLM solutions.
As a result of this placement of shares, and assuming the over allotment option is exercised by the banks, the company's free float will increase from 32% to 48% to the real benefit of our shareholders.
The sale of the stake and the increase in liquidity in our stock that it brings, further builds on the decision to list Dassault Systemes on Nasdaq and Euronext Paris in June 1996, a decision which was instrumental to the development of the company.
This placement and the resulting shareholder base (assuming exercise of the over allotment option, free float: 48%, Groupe Industriel Marcel Dassault: 45.2%, and Charles Edelstenne, Chairman of Dassault Systemes: 6.8%) provides us with an appropriate structure to continue to implement our strategy for growth."
DS will continue to expand its capacity to serve manufacturing customers worldwide by delivering the most innovative and competitive solutions to digitally create, produce and support all types of manufactured goods.