Petrus Advisers Ups Criteo Stake
Ticker: CRTO · Form: SC 13D/A · Filed: Jul 11, 2024 · CIK: 1576427
| Field | Detail |
|---|---|
| Company | Criteo S.A. (CRTO) |
| Form Type | SC 13D/A |
| Filed Date | Jul 11, 2024 |
| Risk Level | medium |
| Pages | 10 |
| Reading Time | 12 min |
| Key Dollar Amounts | $29 |
| Sentiment | neutral |
Sentiment: neutral
Topics: shareholder-activism, amendment, ownership-change
Related Tickers: CRTO
TL;DR
Petrus Advisers just filed an amendment for Criteo (CRTO) - looks like they're increasing their stake.
AI Summary
Petrus Advisers Ltd. filed an amendment (No. 5) to its Schedule 13D on July 11, 2024, regarding Criteo S.A. The filing indicates a change in beneficial ownership, with Petrus Advisers Ltd. now holding a significant stake in the company. Klaus Umek and Till Hufnagel are listed as group members associated with Petrus Advisers Ltd.
Why It Matters
This filing signals a potential shift in Criteo's shareholder landscape, as a significant investor has amended its stake, which could influence future corporate actions or strategy.
Risk Assessment
Risk Level: medium — Changes in significant shareholder positions can introduce uncertainty and potential volatility for the company's stock.
Key Players & Entities
- Petrus Advisers Ltd. (company) — Filing entity
- Criteo S.A. (company) — Subject company
- Klaus Umek (person) — Group member
- Till Hufnagel (person) — Group member
- Connie Neumann (person) — Authorized contact
FAQ
What is the specific percentage of Criteo S.A. shares beneficially owned by Petrus Advisers Ltd. after this amendment?
The filing does not explicitly state the exact percentage of beneficial ownership in this amendment, but it indicates a change in holdings.
What was the date of the previous filing or the last significant change in Petrus Advisers' stake in Criteo S.A.?
This filing is Amendment No. 5 to Schedule 13D, implying previous filings, but the date of the prior amendment is not specified in this document excerpt.
What is the business address of Petrus Advisers Ltd.?
The business address of Petrus Advisers Ltd. is Eighth Floor, 6 New Street Square, New Fetter Lane, London EC4A 3AQ, United Kingdom.
Who is the authorized person to receive communications for Petrus Advisers Ltd. regarding this filing?
Connie Neumann, Office and compliance manager, is the person authorized to receive communications.
What is the CUSIP number for Criteo S.A. American Depositary Shares?
The CUSIP number for Criteo S.A. American Depositary Shares is 226718104.
Filing Stats: 3,006 words · 12 min read · ~10 pages · Grade level 7.8 · Accepted 2024-07-11 16:09:33
Key Financial Figures
- $29 — ght to recall at any time at a price of $29.7930, and 200,000 ADS that the Reportin
Filing Documents
- ea0209256-13da5petrus_crit.htm (SC 13D/A) — 148KB
- 0001013762-24-000164.txt ( ) — 150KB
Source and Amount of Funds or Other
Item 3. Source and Amount of Funds or Other Consideration.
of the Schedule 13D is hereby amended and supplemented as follows
Item 3 of the Schedule 13D is hereby amended and supplemented as follows: Because the Reporting Persons have generated more proceeds from sales of ADS than they have spent on acquiring ADS and options to acquire ADS since the filing of Amendment No. 4 on May 29, 2024, the Reporting Persons have not had to source additional funds to acquire the ADS and options to acquire ADS purchased since the filing of Amendment No. 4 on May 29, 2024.
Interest in Securities of the Issuer
Item 5. Interest in Securities of the Issuer
(a)-(c) of the Schedule 13D is hereby
Item 5(a)-(c) of the Schedule 13D is hereby amended and supplemented as follows: (a) See rows (11) and (13) of pages 2, 3 and 4 of this Amendment No. 5 for the aggregate number of ADS and percentage of ADS beneficially owned by the Reporting Persons as of July 9, 2024. These amounts include (i) an aggregate 3,600,000 ADS that the Reporting Persons have the right to acquire within 60 days upon exercise of long standardized call options, and (ii) 310,000 ADS that the Reporting Persons have the right to recall at any time at a price of $29.7930, and 200,000 ADS that the Reporting Persons have the right to recall at any time at a price of $29.036, both pursuant to a repurchase agreement with RBC Bank that is scheduled to terminate on July 11, 2024. The aggregate percentage of ADS reported beneficially owned by the Reporting Persons is based upon 56,687,497 Shares outstanding as of April 30, 2024, as disclosed in the Issuer’s quarterly report on Form 10-Q filed by the Issuer with the Commission on May 2, 2024. (b) See rows (7) through (10) of pages 2, 3 and 4 of this Amendment No. 5 for the ADS as to which the Reporting Persons have the sole or shared power to vote or direct the vote and sole or shared power to dispose or direct the disposition as of July 9, 2024. Each of Petrus, Mr. Hufnagel and Mr. Umek may be deemed to share voting power and share dispositive power over the ADS and options to acquire ADS held directly by the investment vehicles and managed accounts for which Petrus serves as investment manager or portfolio adviser and the private individuals who have signed powers of attorney in favor of Petrus. (c) The transactions in the ADS effected by the Reporting Persons since the filing of Amendment No. 4 on May 29, 2024 and through July 9, 2024 are set forth on Schedule 6 attached hereto. CUSIP No. 226718104 13D Page 7 of 10 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set fort