Awaiting judiciary decisions for Dolphin Integration SA

Apr 15, 2019

Awaiting judiciary decisions for Dolphin Integration SA

Following the judgment on August 21, 2018 in favor of the adoption of a plan for the total transfer of the assets and goodwill of the company DOLPHIN INTEGRATION SA, with the conservation of all employees, the act of cession has been signed on December 5, 2018.

A minority shareholder has challenged this decision authorizing the transfer of business, and the Commercial Court of Grenoble has confirmed the decision of transfer by a judgment rendered on October 16, 20198. This judgment has been upheld in appeal by a decision of the Court of appeal of Grenoble on January 17, 2019.

The latter judgment is the subject of a cassation appeal.

A new procedure against the judgment of August 21, 2018 has been implemented by an other minority shareholder from abroad. His requests have been rejected by judgment of 18 December 2018 and has appealed.

In the context of this appeal, the plaintiff also has raised a preliminary question of constitutionality before the Court. The judgement on this point is expected on June 6, 2019.

An other procedure has been initiated on the merits before the Commercial Court of Grenoble, by the same foreign minority shareholder, by deed of December 27, 2018, for the purpose of obtaining the nullity of the deed of transfer of the trade fund and the assets of DOLPHIN INTEGRATION SA. This procedure is in process.

Furthermore, the period of observation of the judicial recovery of the SA DOLPHIN INTEGRATION was extended by judgment of the commercial court of Grenoble on January 15, 2019 for a period of 6 months expiring on 16 July 2019.

As for DOLPHIN INTEGRATION, it has obtained from the president of the Commercial Court of Grenoble to postpone until the end of June 2019 the date of the ordinary general assembly of shareholders to approve the financial statements for the fiscal year ended on March 31, 2018.

In the meantime, no resumption of the listing of DOLPHIN INTEGRATION shares is contemplated.
In accordance with the applicable regulations, the company shall communicate any new stage of the procedure.

The Chairman of the board of directors

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