08-08-2008: Clarins case

Deminor is contesting the independent evaluations done within the framework of the public offer on Clarins’ shares.

 

On July 16th 2008, Deminor wrote to the AMF in order to contest the independence of the expert that was chosen to evaluate Clarins’ shares. Following this intervention, the AMF acknowledged this lack of independence and a new expert had to be appointed.

 

Since then, on July 23rd 2008, Deminor questioned the AMF to obtain clarifications about the conditions of this appointment and the calendar of the public offer.

 

The report of the new expert, which is deficient in many aspects, was released on August 1st 2008. In the same day, Clarins’ board of directors published his note in response to the public offer, and the AMF issued its visa, confirming the conformity of the operation. In a new letter to the AMF sent on August 7th 2008, Deminor is wondering about the reasons of this hurrying and about the consequences for the minority shareholders’ interests.

 

Please find enclosed extracts of the letters to the AMF (only in French).


PDF 1_extrait lettre sur Clarins 16 juillet 2008.pdf
PDF 1_extrait lettre sur Clarins 23 juillet 2008.pdf
PDF 1_Lettre Deminor - AMF sur Clarins.pdf