Octave Klaba, founder and President of OVHcloud, along with his brother Miroslaw Klaba, have issued a statement to clarify the recent sale of company shares and future investment plans in response to the drop in share prices since May 30, 2024. However, criticisms on social media from shareholders have not been uncommon, as they feel misled for buying shares at higher prices while the founders sell at a disadvantageous time.
Details of the Share Sale
Between April 29 and May 28, 2024, Octave and Miroslaw Klaba sold 726,466 shares, equivalent to approximately 4.7 million euros, which represents less than 0.4% of OVHcloud’s existing shares. This sale was conducted in an orderly manner, mainly through a block assignment off-market and to a lesser extent on the open market, taking advantage of periods of share price increases.
Investment in Synfonium
The funds obtained from this transaction will be allocated to the development of Synfonium, a collaborative cloud platform created in partnership with Caisse des Dépôts et Consignations. Synfonium aims to offer an alternative suite of collaborative services in the cloud, expanding the options available to users.
Shareholders’ Criticisms
Following the publication of the statement on social media, shareholders’ criticisms quickly emerged. Many expressed their dissatisfaction for having purchased shares at higher prices and feeling deceived upon seeing the founders selling at a time when the company has lost value. Comments reflect the frustration of investors, who expected a greater commitment and stability in the management of their investments.
Continued Commitment to OVHcloud
Since May 29, 2024, Octave and Miroslaw Klaba have decided to cease any additional sale of OVHcloud shares to fund Synfonium projects. In their statement, Octave Klaba reiterated their commitment and confidence in OVHcloud’s current management, stating, “With Miro, we remain fully committed to OVHcloud and have full confidence in the group’s management to carry out the strategic plan that will consolidate OVHcloud’s position as a key player in the cloud market. This ambition is based on an ambitious project of developing the offer, profitable and sustainable growth, and creating value for all stakeholders. We are determined to support OVHcloud in the long term as founding and majority shareholders of the group.”
Future of OVHcloud
The group OVHcloud, known for its innovation and strength in the cloud services market, continues on its path towards expansion and value creation. With the backing and strategic vision of its founders, OVHcloud is gearing up for new challenges and opportunities in the competitive global cloud technology market.
The sale of shares by the Klaba brothers has been strategically executed with the clear objective of reinvesting in the growth and diversification of their cloud projects. Despite criticisms and shareholder discontent, the founders of OVHcloud affirm their commitment to the company, seeking to strengthen its position in the market and ensure the long-term trust of investors.