Beech Tree obtains a waiver for Ipsen

On April 3, 2026, Ipsen announced that Beech Tree, which holds 26.03% of the share capital and 33.05% of the voting rights of the company, had obtained a waiver from the French Financial Markets Authority (AMF). This waiver exempts it from launching a public tender offer for all of Ipsen's shares.

This change follows the transfer of Henri Beaufour's stake in Beech Tree to the Alasol Foundation. A governance agreement has been established between Altawin, the Alasol Foundation, and Beech Tree, notably stipulating that the Foundation will retain the shares for at least 15 years.

The agreement also ensures the continued management of Ipsen's stake by Beech Tree in accordance with the guidelines established by Beaufour. Consultation between the parties involved prior to general meetings is planned to maintain consensus in decision-making.