Societe Generale confirms the launch of a Global Employee Share Ownership Programme
SOCIETE GENERALE CONFIRMS THE LAUNCH OF A GLOBAL EMPLOYEE SHARE OWNERSHIP PROGRAMME
Press release
Paris, 23 May 2023
Societe Generale confirms the launch of a new global employee share ownership programme allowing eligible current employees and retired former employees of the Group to subscribe for a capital increase reserved for them on preferential terms. The subscription period for the share offer will take place from June 1st to 15th (inclusive).
The settlement-delivery of the shares should take place on 24 July 2023.
The terms of this transaction are described in the information document provided below.
This transaction implements the 21st resolution of the General Meeting held on 17 May 2022. The principle of this operation, approved by the Board of Directors on 7 February 2023, was made public in page 14 of the Board of Directors' report published the 17 April 2023 on the resolutions submitted to the General Meeting of 23 May 2023 and, before that, in the table of financial authorisations provided in section 3.1.7 of the Universal Registration Document dated 13 March 2023 which has been updated, on page 33 of its first amendment dated 12 May 2023.
Press contacts:
Jean-Baptiste Froville_+33 1 58 98 68 00_ jean-baptiste.froville@socgen.com
Fanny Rouby_+33 1 57 29 11 12_ fanny.rouby@socgen.com
23 May 2023
INFORMATION DOCUMENT
PROVIDED FOR CURRENT EMPLOYEES AND RETIRED FORMER EMPLOYEES
OF THE SOCIETE GENERALE GROUP
PERTAINING TO A CAPITAL INCREASE IN CASH TARGETING A MAXIMUM OF 12,556,800 SHARES RESERVED FOR ELIGIBLE CURRENT EMPLOYEES AND RETIRED FORMER EMPLOYEES PARTICIPATING IN SOCIETE GENERALE GROUP COMPANY OR GROUP SAVINGS PLANS
2023 GROUP EMPLOYEE SHARE OWNERSHIP PROGRAMME
This information document is available at Societe Generale’s administrative office (17 cours Valmy - 92972 Paris-La Défense Cedex), on its website and its intranet site, and was covered by a press release dated 23 May 2023 distributed and published as regulated information. |
MAIN CHARACTERISTICS OF THE CAPITAL INCREASE IN CASH RESERVED FOR ELIGIBLE CURRENT EMPLOYEES AND RETIRED FORMER EMPLOYEES PARTICIPATING IN SOCIETE GENERALE GROUP COMPANY OR GROUP SAVINGS PLANS
ISSUER | Societe Generale, |
Securities offered | The maximum overall nominal amount of the capital increase is set at EUR 15,696,000, corresponding to the issue of 12,556,800 shares available for subscription in cash. |
Reasons for the offer | The 2023 Group Employee Share Ownership Programme falls within the scope of the Societe Generale Group employee share ownership policy, both in France and internationally, allowing beneficiaries to become involved in the Group’s operations by participating, through this investment, in the development of Societe Generale, by expressing their voting rights and participating in the General Meeting. |
Terms of subscription | The shares will be available for subscription through employee mutual fund (“FCPE”) in France and directly via the acquisition of registered shares outside France. |
| Terms of subscription for shares
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| As regards the first tranche, former employees having left their company after retiring, with this category including pre-retirees, and having retained assets in the Company or Group Savings Plans, may also take part in this reserved capital increase. |
| Subscription limit |
Transaction timetable | Subscription will be open from Thursday 1st June 2023 at 10:00 a.m. (Paris time) to Thursday 15 June 2023 at 11:59 p.m. (Paris time). The capital increase is scheduled for 24 July 2023. |
Listing of new shares | Listing market |
| Listing of new shares |
General information on new shares subject to a request for admission to trading | Rights attached to shares issued |
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Unavailability | Shares held directly by the Beneficiaries and units of the employee mutual fund, as applicable, will be unavailable for a period of 5 years, barring cases of early release subject to the conditions applicable to the Company or Group Savings Plan in question. As regards the 2nd tranche, in some countries, depending on local legislation, some cases of early release will not be open to employees. |
Specific disclaimer for international subscriptions | This document constitutes neither an offer to sell nor a solicitation to subscribe for Societe Generale shares. The Societe Generale share offer reserved for eligible current employees and retired former employees participating in Societe Generale Group Company or Group Savings Plans will only be implemented in countries where such an offer has been registered with the relevant local authorities and/or with the approval of a prospectus by the competent local authorities, or in consideration of an exemption from the obligation to establish a prospectus or register the offer. More generally, the offer will only be made in countries where all required registration procedures and/or notifications have been made and the proper authorisations obtained, except for the exemptions mentioned above. This document is not intended for countries in which such a prospectus would not have been approved or such an exemption would not be available, or in which all required registration and/or notification procedures have not yet been made or the proper authorisations obtained, and copies of this document should not be sent in such countries. |
Employee contact
Beneficiaries may address any questions relating to this offer to the contact indicated in the subscription application provided to them.
Societe Generale
Societe Generale is one of the leading European financial services groups. Based on a diversified and integrated banking model, the Group combines financial strength and proven expertise in innovation with a strategy of sustainable growth. Committed to the positive transformations of the world’s societies and economies, Societe Generale and its teams seek to build, day after day, together with its clients, a better and sustainable future through responsible and innovative financial solutions.
Active in the real economy for over 150 years, with a solid position in Europe and connected to the rest of the world, Societe Generale has over 117,000 members of staff in 66 countries and supports on a daily basis 25 million individual clients, businesses and institutional investors around the world by offering a wide range of advisory services and tailored financial solutions. The Group is built on three complementary core businesses:
French Retail Banking with the SG bank, resulting from the merger of the two Societe Generale and Crédit du Nord networks, and Boursorama. Each offers a full range of financial services with omnichannel products at the cutting edge of digital innovation;
International Retail Banking, Insurance and Financial Services, with networks in Africa, Central and Eastern Europe and specialised businesses that are leaders in their markets;
Global Banking and Investor Solutions, which offers recognised expertise, key international locations and integrated solutions.
Societe Generale is included in the principal socially responsible investment indices: DJSI (Europe), FTSE4Good (Global and Europe), Bloomberg Gender-Equality Index, Refinitiv Diversity and Inclusion Index, Euronext Vigeo (Europe and Eurozone), STOXX Global ESG Leaders indexes, and the MSCI Low Carbon Leaders Index (World and Europe).
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