Plant-based natural ingredients supplier Naturex said The Finasucre Group has boosted its stake to hold the majority of share capital in SGD, the company's lead shareholder.
As a result of the completion of this transaction on Feb. 22, The Finasucre Group now holds 98.79% of SGD's share capital with the balance held by selected members of Naturex's executive committee. In addition, there are now changes in Naturex's board of directors following the resignation of Olivier Dikansky from his position as director, and the appointment of Charles Feys, secretary general of Finasucre Group, as permanent representative of SGD, replacing Isabelle Dikansky.
The Finasucre Group, which produces sugar from cane and beet and is continuing to expand current uses of natural sweeteners in all of its markets, has said it's diversifying into different real estate property sectors and making "direct or indirect investments in companies that represent significant potential for growth."
In July 2011, the Finasucre Group became a shareholder of SGD to strengthen the structure of Naturex, a family holding company, and provide it with resources to support Naturex in pursuing external growth opportunities. Following chairman and founder Jacques Dikansky's death, and in keeping with the agreement when Finasucre Group first became a SGD shareholder, Dikansky's children sold their entire stake in SGD.
The board of directors has also co-opted as a director, Hélène Martel-Massignac, Caravelle's CEO.
As a result, Naturex's board includes: Thierry Lambert, Naturex's chairman and CEO; Stéphane Ducroux, chief operating officer for the America/Asia-Pacific regions and vice chairman of Naturex Inc.; Olivier Lippens, Finasucre's executive officer; Paul Lippens, Finasucre's executive officer; Hélène Martel-Massignac, Caravelle CEO; and SGD, represented by Charles Feys, Finasucre's secretary general.
SGD holds 1,624,768 shares (21.0%, 27.5%), Caravelle has 1,186,137 shares (15.4%, 13.6%) and the free float is 4,917,864 shares (63.6%, 58.9%) out of 7,728,769 shares (100%, 100%). The percentage is based on 8,727,344 voting rights exercisable at Jan. 31, 2013.