Societe Generale Announces Significant Share Capital Reduction
Capital Reduction at Societe Generale
CAPITAL REDUCTION BY CANCELLATION OF TREASURY SHARES
Regulated Information
During a recent meeting, Societe Generale's Board of Directors made a vital decision to enhance the bank's financial structure. This decision involved the cancellation of 11,718,771 treasury shares, previously repurchased between May 27 and June 17. With this strategic move, the bank aims to optimize its share capital and reinforce its commitment to create value for its shareholders.
Impact on Share Capital
This capital reduction has resulted in a new share capital amount for Societe Generale of approximately 1,000,395,971.25 euros. The total number of ordinary shares now stands at 800,316,777, each maintaining a nominal value of 1.25 euros. Such measures reflect the bank's ongoing efforts to manage its resources prudently and align with best practices in corporate governance.
About Societe Generale
Societe Generale is recognized as a leading European bank, employing over 126,000 individuals who cater to nearly 25 million clients across 65 countries. With a legacy spanning 160 years, the bank has continually focused on fostering economic growth by offering a wide array of financial solutions that meet the diverse needs of corporate, institutional, and individual clients. Societe Generale prides itself on its long-standing relationships, advanced expertise, innovative approaches, and strong ESG capabilities, underpinning its mission of creating sustainable value.
Core Business Areas
The bank operates through three primary business divisions that comprehensively address the evolving needs of its clientele:
- French Retail, Private Banking and Insurance: Features leading retail banking services, a strong insurance division, premium private banking offerings, and a robust digital banking platform through BoursoBank.
- Global Banking and Investor Solutions: Renowned as a top-tier wholesale bank, it specializes in delivering bespoke solutions, particularly in equity derivatives and structured finance, emphasizing ESG principles.
- Mobility, International Retail Banking and Financial Services: Comprises well-established banks especially in Central and Eastern Europe and Africa, along with ALD I LeasePlan brand, focusing on sustainable mobility and specialized financing.
Commitment to Sustainability
Societe Generale is deeply committed to collaborating with clients to build a more sustainable future. The bank aspires to be a key player in driving environmental transitions and is recognized in various socially responsible investment indices, including the DJSI, FTSE4Good, and the MSCI Low Carbon Leaders Index. This commitment signifies its dedication to integrating ESG considerations across all its operations.
Company Contact Information
For media inquiries, please contact:
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
Frequently Asked Questions
What was the purpose of the capital reduction?
The capital reduction aimed to optimize the share capital and enhance shareholder value by cancelling treasury shares.
How many shares were cancelled in this reduction?
A total of 11,718,771 treasury shares were cancelled as part of this capital reduction.
What is the current share capital of Societe Generale?
The current share capital of Societe Generale amounts to approximately 1,000,395,971.25 euros.
How does this affect the nominal value of shares?
Despite the capital reduction, the nominal value of each ordinary share remains unchanged at 1.25 euros.
How can I find more information about Societe Generale?
For more details about Societe Generale, you can visit their official website at societegenerale.com.
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