Eagle Football Group: An Ad Hoc Committee in Light of a Potential Change of Control
The Board of Directors of Eagle Football Group has acknowledged the developments regarding the administration procedure of its majority shareholder Eagle Bidco and has established a dedicated governance mechanism to monitor potential control change issues.
Formation of an Ad Hoc Committee
To manage potential conflicts of interest related to the possible involvement of CEO Michele Kang in the administration procedure of Eagle Bidco, the Board of Directors has formed an ad hoc committee consisting of three independent directors: Gilbert Saada as chairman, along with Nathalie Dechy and Victoria Wescott. This committee will oversee the administration process on behalf of the Company and, if necessary, propose the appointment of an independent expert, monitor their work, and make a recommendation to the Board of Directors regarding the interest of a potential public offer for the Company, its shareholders, and its employees.
Confidential Information Sharing
In accordance with the recommendations of the Financial Markets Authority and under the protection of confidentiality commitments, the Company may share confidential information with third parties interested in acquiring EFG shares held by Eagle Bidco. Eagle Football Group has already signed confidentiality commitments with Eagle Bidco to organize the administration process and the search for a potential buyer, as well as with a consortium consisting of Ares Capital and an affiliate of Michele Kang. The Company might conclude similar confidentiality agreements with other interested parties in the coming weeks.
