The AMF ensures compliance with major holding reporting obligations

As part of its remit to ensure that investors are informed and that markets in financial instruments continue to operate smoothly, the AMF asked the courts to order Dynamic Treasure Group Limited, whose registered office is in the British Virgin Islands, to report major holding notifications and statements of intent with regard to SMCP, whose shares are traded on the Euronext Paris regulated market. In October 2021, Dynamic Treasure Group Ltd had acquired a block of SMCP shares representing 16% of SMCP’s share capital and 14% of its voting rights.

On 30 May 2022, at the request of the AMF Chairman, the Vice-President of the Paris Tribunal Judiciaire ordered Dynamic Treasure Group Limited, pursuant to Article L. 621-14 III of the Monetary and Financial Code, to report the major holding and issue a statement of intent, in accordance with Article L. 233-7 of the Commercial Code and Articles 223-14 and 223-17 of the AMF General Regulation, within seven days of the date on which her order was served.

If Dynamic Treasure Group Limited fails to comply with the order within the time limit, it will be liable to pay €1,000 per day of delay to the Public Treasury for a period of one month.

The AMF reminds market participants of the importance of complying with reporting obligations in relation to major holding notifications and statements of intent, which help ensure the transparency of equity investments in listed companies and keep markets running smoothly.