PR Newswire/Les Echos/

Press release
15 October 2014

                Proposed demerger of the two operating divisions

The Supervisory Board, having reviewed the report of the independent expert,
namely the Valphi firm, on the contribution value of the assets and the fairness
of the financial terms and conditions of the transaction, unanimously approved
the demerger of the Group's two operating divisions, Somfy Activities and Somfy
Participations. Furthermore, it authorised the Management Board to take all
necessary steps to finalise the said demerger and in particular to sign the
Contribution Agreement today.

The transaction will be completed in two stages:

. The first, scheduled for 29 October 2014, will involve the transfer of Somfy
Participations' assets, excluding the equity investments in CIAT(1) and FAAC(2),
to Edify, a "société anonyme" (public limited company) incorporated under the
laws of Luxembourg, established on 16 September 2014 for the purpose of the
transaction and intended to be listed on the Euro MTF market of the Luxembourg
Stock Exchange.

Following the transfer, Edify will be valued at EUR253 million, divided into
5,060,620 shares, and will comprise an equity portfolio of EUR192 million and
other financial assets (receivables and cash) of EUR61 million.

. The second stage, subject to approval by the Somfy General Meeting scheduled
for 27 November 2014, will involve an exceptional distribution of reserves with,
at Somfy shareholders' discretion, a payment either in shares in the
newly-formed Edify company or in cash.

Somfy's shareholders would therefore be offered the option of receiving one
Edify share valued at EUR50 or a gross cash amount of EUR50 for each Somfy share
held.

The majority shareholder has already indicated that it would opt for payment in
shares.

(1) The 46.1% equity investment in CIAT will be acquired by UTC if the bid
currently being considered is carried through.
(2) The 34.0% equity investment in FAAC will be retained by Somfy due to their
businesses being very complementary.

Edify will be first listed on the day the distribution is paid by Somfy, which
is due to take place in December. This listing will be preceded by the provision
of a prospectus, approved by the Luxembourg Stock Exchange, with the notice of
General Meeting of 27 November.

Profile

The Somfy Group is structured as two separate branches: Somfy Activities, which
is dedicated to the automation and control of openings and closures in
residential and commercial buildings, and Somfy Participations, which is
dedicated to investments and equity shareholdings in industrial companies
operating in other business sectors.

The two branches operate in accordance with different business models and are
already independent from each other. Their split into separate listed companies
will provide greater visibility to their respective activities and improve the
readability and analysis of their financial statements. It will also give
shareholders the opportunity to invest in their activities of choice.

Contacts

Pierre Ribeiro (Chief Financial Officer): +33 4 50 40 48 49 /
Jean-Michel Jaud (Communication Director): +33 4 50 96 70 65 /
François-Xavier Dupont: +33 1 44 50 58 74

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