Chargeurs becomes Belgrano, shareholders approve capital reduction ahead of share buyback at €14 per share

Belgrano replaces Compagnie Chargeurs Invest, ticker becomes « BGO »

The extraordinary general meeting, held in Paris under the chairmanship of Michaël Fribourg, Chief Executive Officer of the group, approved the change of corporate name of the company, which becomes « Belgrano ». The new name is taken from the first ship of the Compagnie des Chargeurs Réunis. The stock ticker will evolve in the coming days to become « BGO ». A new website, www.belgranogroup.com, is to be launched within a few days to centralize financial and regulatory information intended for shareholders, investors and the press. The group retains ownership and operation of the Chargeurs brand and its derivatives. According to Michaël Fribourg, the adoption of the Belgrano name « completes the transformation of the Group ».

A share buyback of €36.2 million maximum, completion scheduled no later than the first quarter of 2027

The approved capital reduction is not motivated by losses: it will be carried out through the company's repurchase of its own shares for cancellation purposes. The maximum unit repurchase price is set at €14 per share, for a maximum number of 2,589,285 shares. The maximum total amount of the share buyback offer (OPRA) amounts to €36,249,990, for a maximum nominal amount of €31,071,420, based on a nominal value of €12 per share. The capital reduction will take place following the OPRA, which remains subject to the AMF compliance decision. Completion of the transaction is scheduled no later than the first quarter of 2027. « The approval of the capital reduction also allows us to take another step forward in implementing our share buyback, in accordance with the announced schedule », declared Michaël Fribourg. As of June 30, 2026, Belgrano's revalued net assets stood at €556 million. The group will publish its revenue for the first nine months and third quarter of 2026 on November 5, 2026, before market opening.