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, 22 May 2024
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 3 to 17 June (inclusive).
The settlement-delivery of the shares should take place on 25 July 2024.
The terms of this transaction are described in the information document provided below.
This transaction implements the 19th resolution of the General Meeting held on 23 May 2023. The principle of this operation, approved by the Board of Directors on 7 February 2024, was made public in page 14 of the Board of Directors' report published the 12 April 2024 on the resolutions submitted to the General Meeting of 22 May 2024 and, before that, in the table of financial authorisations provided in section 3.1.7 of the Universal Registration Document dated 11 March 2024 which has been updated, on page 31 of its first amendment dated 3 May 2024.
Employee share ownership is a long-term collective commitment mechanism regularly implemented within Societe Generale to involve employees in the development of the company and to enable them to benefit from long-term value creation.
The 2024 programme is the 31st offered by the Group.
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
22 May 2024
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 12,123,200 SHARES RESERVED FOR ELIGIBLE CURRENT EMPLOYEES AND RETIRED FORMER EMPLOYEES PARTICIPATING IN SOCIETE GENERALE GROUP COMPANY
OR GROUP SAVINGS PLANS
2024 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 22 May 2024. |
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 15,154,000, corresponding to the issue of 12,123,200 shares available for subscription in cash. |
Reasons for the offer | The 2024 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 Monday 3rd June 2024 at 10:00 a.m. (Paris time) to Monday 17th June 2024 at 11:59 p.m. (Paris time). The capital increase is scheduled for 25 July 2024. |
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 a top tier European Bank with more than 126,000 employees serving about 25 million clients in 65 countries across the world. We have been supporting the development of our economies for 160 years, providing our corporate, institutional, and individual clients with a wide array of value-added advisory and financial solutions. Our long-lasting and trusted relationships with the clients, our cutting-edge expertise, our unique innovation, our ESG capabilities and leading franchises are part of our DNA and serve our most essential objective - to deliver sustainable value creation for all our stakeholders.
The Group runs three complementary sets of businesses, embedding ESG offerings for all its clients:
French Retail, Private Banking and Insurance, with leading retail bank SG and insurance franchise, premium private banking services, and the leading digital bank BoursoBank.
Global Banking and Investor Solutions, a top tier wholesale bank offering tailored-made solutions with distinctive global leadership in equity derivatives, structured finance and ESG.
International Retail, Mobility & Leasing Services, comprising well-established universal banks (in Czech Republic, Romania and several African countries), Ayvens (the new ALD I LeasePlan brand), a global player in sustainable mobility, as well as specialized financing activities.
Committed to building together with its clients a better and sustainable future, Societe Generale aims to be a leading partner in the environmental transition and sustainability overall. The Group 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).
For more information, you can follow us on Twitter/X @societegenerale or visit our website societegenerale.com.
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