Societe Generale's Capital Reduction
CANCELLATION OF TREASURY SHARES
Regulated Information
In a recent Board meeting, Societe Generale made an important decision to improve the bank's financial structure. This decision involves cancelling 11,718,771 treasury shares, which were repurchased between May 27 and June 17. By taking this step, the bank seeks to optimize its share capital and reaffirm its dedication to enhancing value for its shareholders.
Changes to Share Capital
This capital reduction has led to a new total for Societe Generale's share capital, now approximately 1,000,395,971.25 euros. The number of ordinary shares is now 800,316,777, each retaining a nominal value of 1.25 euros. These actions reflect the bank's ongoing commitment to prudent resource management and adherence to corporate governance best practices.
About Societe Generale
Societe Generale stands out as a prominent European bank, employing over 126,000 people who serve around 25 million clients across 65 countries. With a legacy that spans 160 years, the bank remains focused on promoting economic growth through a wide range of financial solutions designed to meet the diverse needs of corporate, institutional, and individual clients. It takes pride in its long-lasting relationships, expertise, innovative strategies, and strong ESG capabilities, all of which support its mission of delivering sustainable value.
Main Business Areas
The bank operates through three key business divisions, which effectively address the changing needs of its clients:
- French Retail, Private Banking and Insurance: Offers leading retail banking services, a solid insurance division, top-tier private banking services, and a comprehensive digital banking platform through BoursoBank.
- Global Banking and Investor Solutions: Known as a premier wholesale bank, it provides tailor-made solutions, particularly in equity derivatives and structured finance, with a focus on ESG principles.
- Mobility, International Retail Banking and Financial Services: Encompasses established banks mainly in Central and Eastern Europe and Africa, along with the ALD I LeasePlan brand, emphasizing sustainable mobility and specialized financing.
Focus on Sustainability
Societe Generale is committed to working alongside clients to cultivate a more sustainable future. The bank aims to play a significant role in environmental transitions and is included in various socially responsible investment indices, such as the DJSI, FTSE4Good, and the MSCI Low Carbon Leaders Index. This dedication reflects its intention to incorporate ESG considerations throughout all its operations.
Contact Information
If you have media inquiries, please reach out to:
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 aim of the capital reduction?
The capital reduction was designed to optimize share capital and boost shareholder value by cancelling treasury shares.
How many treasury shares were cancelled?
A total of 11,718,771 treasury shares were cancelled as part of the capital reduction initiative.
What is the current share capital for Societe Generale?
Societe Generale's current share capital is approximately 1,000,395,971.25 euros.
What happens to the nominal value of shares after the reduction?
Even with the capital reduction, the nominal value of each ordinary share remains at 1.25 euros.
Where can I get more information about Societe Generale?
To learn more about Societe Generale, you can visit their official website at societegenerale.com.
