Groupe Unika SA (ENXTPA:MLUKA) agreed in principle to acquire Techniline SA (ENXTPA:ALTEC) in a reverse merger transaction on December 17, 2014. The assets of Groupe Unika would be transferred to Techniline. Ratio at which shares will be converted would be announced at later date when valuation of Groupe Unika's assets is finalized. Post merger, Unika group shareholders will be majority shareholders of new entity and listing on Alternext will be maintained. Techniline shares remain suspended.

As of April 29, 2015, the parity of the merger would be 601 Techniline shares for 1 Groupe Unika share. In remuneration of the investment and taking into account the exchange, Techniline would proceed to a capital increase of an amount of €14.2 Million (taking into account the reduction of the capital having to be decided at the time the general assembly of the shareholders of Techniline convened on June 3, 2015) by creation of 1.42 billion new shares. The listing of Techniline on Alternext would be maintained and the new Techniline shares created during the merger would be allowed to trading on Alternext under the ISIN code: FR0010212480. After realization of the merger by amalgamation, Monsieur Moshey Gorsd on the one hand and the Gorsd family made up of Moshey Gorsd, Yossef Gorsd, Yaacov Gorsd directly and indirectly through Foch Partners who acts together on the other hand, principal shareholders of Groupe Unika will respectively own 61.86% of the capital and 77.39% of the capital of Techniline post merger.

The Boards of Directors of Techniline and Groupe Unika, respectively joined together the April 23 and April 22, 2015, approved the terms of the merger and authorized the signature of the Merger Treaty project which concluded on April 23, 2015. As of June 8, 2015, Approval of merger by absorption of Groupe Unika by Techniline SA got delayed due to Techniline receiving from bailiff subpoenas for litigation involving the company Techni Cine Phot, a former subsidiary that went into liquidation.

The merger by amalgamation is subject to the realization of several suspensive conditions particularly the approval of the deal by the extraordinary general assemblies of the shareholders of Techniline and Groupe Unika who will meet on June 3, 2015, the modification of the governance of Techniline and obtaining an exemption from the obligation to file a public offer granted by Autorité des marchés financiers to Monsieur Moshey Gorsd on the one hand and from the Gorsd family, composed of Moshey Gorsd, Yossef Gorsd, Yaacov Gorsd directly and indirectly through Foch Partners, which will only cross for Monsieur Moshey Gorsd and together for the Gorsd family, more than 50% of the capital and the voting rights of Techniline at the conclusion of the merger. Mélanie Bonanno and Pauline Colrat of Atout Capital acted as a financial advisor for Techniline.