Corporate
Terms of the stabilization transactions and the over-allotment option
Paris, 29 June 2021 – Believe, one of the world’s leading digital music companies, announces today the details of the stabilization transactions carried out in connection with its initial public offering on the regulated market of Euronext Paris.
In accordance with the provisions of Regulation (EU) No 596/2014 of the European Parliament European Union and the Council and Delegated Regulation No 2016/1052 of the European Commission of March 8, 2016, concerning the conditions applicable to buyback programs and stabilization measures, J.P. Morgan, AG, acting as stabilizing agent, declares that it carried out stabilization operations on Euronext Paris as part of the Believe initial public offering.
The stabilization period that began on 9 June 2021 (following the publication of the results of the offering by Believe) ended on 29 June 2021.
Stabilization transactions were carried out within the following price ranges:
| Execution Date | Intermediary | Buy/ Sell/ Transfer | Number of shares | Average Transaction Price (in euros) | Lowest Price/Highest Price (in euros) | Aggregate Amount (in euros) | Stabilisation Trading Venue |
| 10-Jun-21 | J.P. Morgan AG | Buy | 1,000,000 | 17.168800 | 15.9680 / 18.4020 | 17,168,805.60 | Euronext Paris |
| 11-Jun-21 | J.P. Morgan AG | Buy | 200,000 | 17.093300 | 16.4380 / 17.5480 | 3,418,655.68 | Euronext Paris |
| 14-Jun-21 | J.P. Morgan AG | Buy | 50,000 | 17.381549 | 17.0300/ 17.5980 | 869,077.39 | Euronext Paris |
| 15-Jun-21 | J.P. Morgan AG | Buy | 47,135 | 17.492218 | 17.376 / 17.6380 | 824,495.64 | Euronext Paris |
| 16-Jun-21 | J.P. Morgan AG | Buy | 55,000 | 17.357862 | 17.0760 / 17.6680 | 954,682.42 | Euronext Paris |
| 17-Jun-21 | J.P. Morgan AG | Buy | 39,447 | 17.161869 | 16.966 / 17.3060 | 676,984.23 | Euronext Paris |
| 18-Jun-21 | J.P. Morgan AG | Buy | 50,921 | 17.037622 | 16.8460 / 17.5000 | 867,572.72 | Euronext Paris |
| 21-Jun-21 | J.P. Morgan AG | Buy | 50,000 | 16.96437 | 16.812 / 17.1720 | 848,218.41 | Euronext Paris |
| 22-Jun-21 | J.P. Morgan AG | Buy | 9,800 | 16.5452 | 16.338 / 17.0020 | 162,142.98 | Euronext Paris |
| 23-Jun-21 | J.P. Morgan AG | Buy | 9,658 | 16.21415 | 16.008 / 16.4780 | 156,596.15 | Euronext Paris |
| 24-Jun-21 | J.P. Morgan AG | Buy | 7,854 | 15.49457 | 15.326 / 16.0880 | 121,694.30 | Euronext Paris |
| 25-Jun-21 | J.P. Morgan AG | Buy | 7,646 | 14.88603 | 14.588 / 15.2160 | 113,818.59 | Euronext Paris |
| 28-Jun-21 | J.P. Morgan AG | Buy | 6,000 | 14.97507 | 14.636 / 15.4080 | 89,850.40 | Euronext Paris |
| 29-Jun-21 | J.P. Morgan AG | Buy | 5,000 | 14.92001 | 14.508 / 15.274 | 74,600.03 | Euronext Paris |
In addition, J.P. Morgan AG, as stabilizing agent, acting on its own and on behalf of the Managers, has informed the Company that the over-allotment option will not be exercised.
As a result, the total number of Believe shares issued in its initial public offering amounts to 15,384,616 new shares, i.e. an offering size of approximately €300 million. After the initial public offering, the share capital of Believe amounts to €479,267.29, i.e. 95,853,458 ordinary shares with a nominal value of €0.005 per share, representing the same number of voting rights.
In addition, Believe’s share capital and voting rights split set out in the press release announcing the results of its initial public offering, published on 9 June 2021, remains unchanged.
About Believe
Believe is one of the world’s leading digital music companies. Believe’s mission is to develop independent artists and labels in the digital world. We accomplish our mission by providing them the solutions they need to grow their audience at each stage of their career and development. Believe’s passionate team of digital music experts around the world leverages the Group’s global technology platform to advise artists and labels, distribute and promote their music. Our 1,270 employees in more than 50 countries aim to support independent artists and labels with a unique digital expertise, respect, fairness and transparency. Believe offers its various solutions through a portfolio of brands including TuneCore, Believe, Nuclear Blast, Naïve, Groove Attack and AllPoints. Believe is listed on compartment A of the Euronext Paris stock exchange (Ticker: BLV, ISIN: FR0014003FE9). www.believe.com
- Press release regarding the terms of the stabilization transactions and the over-allotment optionApr 04, 2022 — 257.88 KBDownload file
- Communiqué de presse sur les modalités des opérations de stabilisation et l’option de surallocationApr 05, 2022 — 247.91 KBDownload file
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