BIC Group - Press Release
Clichy - 27 february 2015

 
  

       
Portable Fuel Cell Technology disposal

BIC announces today the signing of a binding agreement related to the disposal of its Portable Fuel Cell Technology to Intelligent Energy, a company specialized in the development of modular, low carbon fuel cell and listed on the London Stock Exchange. Value would include 13 million USD (11.5 million euros[1]:
#_ftn1) at closing and 2 million USD (1.8 million euros[1]:
#_ftn1)) in an escrow account at closing to be paid once transition services are completed. The transaction includes all assets (patents and related technology and know-how). The agreement includes a potential earn out up to 7 million USD (6.2 million euros[1]:
#_ftn1). Closing is expected by the end of March 2015.

BIC announced on 19 November 2014 that it had decided to significantly reduce its investment in portable Fuel Cell R&D resources and actively explore strategic alternatives to monetizing its technology. BIC started to work on portable Fuel Cell research and development in 2003, partnering with CEA-LITEN since 2004. In 2011, BIC Group had acquired the assets of Angstrom Power Incorporated; a Canadian company specialized in the development of portable fuel cell technology to complement R&D on cartridges.

Contacts


Investor Relations: +33 1 45 19 52 26 Contact Press
Sophie Palliez-Capian
sophie.palliez@bicworld.com:
mailto:sophie.palliez@bicworld.com 		Albane de La Tour d'Artaise albane.deLaTourDArtaise@bicworld.com:
mailto:albane.deLaTourDArtaise@bicworld.com
  Priscille Reneaume : +33 1 53 70 74 70
preneaume@image7.fr:
mailto:preneaume@image7.fr
  Isabelle de Segonzac : +33 1 53 70 74 70
isegonzac@image7.fr

For more information, please consult the corporate web site:  www.bicworld.com:
http://www.bicworld.com

2015 Agenda (all dates to be confirmed)


1st  Quarter 2015 Results 22 April 2015 Conference call
2015 AGM 06 May 2015 Meeting - BIC Headquarters
2nd Quarter and 1st Half  2015 results 30 July 2015 Conference call
3rd Quarter 2015 results 21 October 2015 Conference call

About BIC

BIC is a world leader in stationery, lighters, shavers and promotional products. For more than 60 years, BIC has honored the tradition of providing high-quality, affordable products to consumers everywhere. Through this unwavering dedication, BIC has become one of the most recognized brands in the world. BIC products are sold in more than 160 countries around the world. In 2014, BIC recorded Net Sales of 1,979.1 million euros. The Company is listed on "Euronext Paris" and is part of the SBF120 and CAC Mid 60 indexes. BIC is also part of the following SRI indexes: FTSE4Good Europe, Euronext Vigeo Europe 120, Ethibel Excellence Investment Register, Gaia Index and Stoxx Global ESG Leaders Index.  

Follow us on         

Twitter @BicGroup:
https://twitter.com/BicGroup?lang=fr, YouTube BIC Group Official:
https://www.youtube.com/user/bicbrand and LinkedIn BIC:
https://www.linkedin.com/company/bic/careers?trk=top_nav_careers


[1]:
#_ftnref1  1.1317 USD = 1 euro (26-FEB-2015 ; ECB Reference rate)

BIC: Fuel Cell disposal:
http://hugin.info/143701/R/1897935/673795.pdf


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: BIC via Globenewswire
HUG#1897935