Technicolor announces today that it has changed its corporate name to VANTIVA, as approved by Technicolor shareholders during a General Shareholders’ Meeting on September 6th, 2022, and the completion of the distribution of 65% of Technicolor Creative Studios (“TCS”) and listing of TCS today on Euronext Paris, under the ticker symbol TCHCS.
Starting from September 27th, 2022, VANTIVA shares will continue being traded on Euronext Paris under the new name and under the new ticker symbol VANTI, and shareholders’ warrants will continue being traded under the new ticker VANBS. As part of the change in corporate name, VANTIVA has launched a new global website that can be found at vantiva.com.
Luis Martinez-Amago, Chief Executive Officer of VANTIVA, said: “Under the VANTIVA banner, we are beginning a new exciting journey as an independent company with two market-leading divisions and a stronger financial profile to pursue our dedicated strategy and goals. Today, we have been given a unique opportunity to establish a fresh identity that reflects our company’s vision, as we continue to leverage our leadership positions and strong capabilities to expand within our markets and create value for all stakeholders. I am confident that our valued employees, customers and shareholders will embrace this change, and I look forward to working with the entire VANTIVA family as we enter our next phase of development.”
Richard Moat, Chairman of the Board of VANTIVA, added: “VANTIVA is in a strong position with an experienced management team led by Luis, and two businesses that are well-structured to create further value for all our stakeholders. On behalf of the entire VANTIVA Board of Directors, I would like to thank our teams and our shareholders for helping us reach this exciting milestone.”
Following the distribution of 65% of Technicolor Creative Studios, VANTIVA is composed of two divisions - Connected Home and Vantiva Supply Chain Services (VSCS) (formerly named DVD Services) recognised as leaders in their respective markets, and holds the remaining 35% in TCS. As stated on February 24th, 2022, as far as this remaining stake in Technicolor Creative Studios is concerned, its disposal will be considered following the spin-off, depending on market conditions, with a view to further and significantly deleveraging VANTIVA.
VANTIVA will take advantage of both divisions’ leadership positions, unique experiences, and strong assets to drive further growth and diversify the businesses. Specifically, Connected Home will focus on the most attractive segments of growing broadband and video streaming markets, and VSCS will continue to execute its ongoing diversification growth strategy in attractive markets, including vinyl, non-disc supply chain and fulfillment, microfluids and freight.
VANTIVA's Board of Directors, meeting today, established its new governance. It approved the appointment of Richard Moat as Chairman of the Board in replacement of Anne Bouverot, and Luis Martinez-Amago as Chief Executive Officer in replacement of Richard Moat. Dominique D'Hinnin has also been appointed as Lead Independent Director. As of today, VANTIVA’s Board of Directors is composed as follows:
Richard Moat, Chairman of the Board
• Luis Martinez-Amago, Chief Executive Officer
• Dominique D’Hinnin, lead independent director
• Laurence Lafont, independent director
• Melinda J. Mount, independent director
• Anne Bouverot
• Bpifrance Participations represented by Thierry Sommelet
• Loïc Desmouceaux, Director representing employees
• Marc Vogeleisen, Director representing employees
• Angelo, Gordon & Co., L.P. represented by Julien Farre, Board Observer
• Gauthier Reymondier, Board Observer
Another independent director has been selected by the Governance Committee and is expected to join the Board in January 2023.
Warning: Forward Looking Statements
This press release contains certain statements that constitute "forward-looking statements", including but not limited to statements that are predictions of or indicate future events, trends, plans or objectives, based on certain assumptions or which do not directly relate to historical or current facts. Such forward-looking statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from the future results expressed, forecasted, or implied by such forward-looking statements. For a more complete list and description of such risks and uncertainties, refer to Technicolor’s filings with the French Autorité des marchés financiers. 2021 Universal Registration Document (Document d’enregistrement universel) has been filed with the French Autorité des marchés financiers (AMF) on April 5, 2022, under number D-22-0237 and an amendment to the 2021 URD has been filed with the AMF on April 29, 2022, under number D-22-0237-A01.
About VANTIVA - Pushing the Edge
VANTIVA shares are admitted to trading on the regulated market of Euronext Paris (VANTI) and are tradable in the form of American Depositary Receipts (ADR) in the United States on the OTCQX market (TCLRY).
VANTIVA (vantiva.com), headquartered in Paris, France and formerly known as Technicolor, is a global technology leader in designing, developing and supplying innovative products and solutions that connect consumers around the world to the content and services they love whether at home, at work or in other smart spaces. VANTIVA has also earned a solid reputation for optimizing supply chain performance by leveraging its decades-long expertise in high-precision manufacturing, logistics, fulfillment and distribution. With operations throughout the Americas, Asia Pacific and EMEA, VANTIVA is recognized as a strategic partner by leading firms across various vertical industries, including network service providers, software companies and video game creators for over 25 years. Our relationships with the film and entertainment industry goes back over 100 years by providing end-to-end solutions for our clients. VANTIVA is committed to the highest standards of corporate social responsibility and sustainability across all aspects of their operations.
Corporate press: Nathalie Feld
Investor Relations Contact: E: Investor.relations[.]technicolor.com.