VINCI Employee Share Offering Through Savings Plan
VINCI Launches Employee Share Offering
A public limited company (société anonyme) with a share capital of €1,473,764,980.00. The registered office is located at 1973 boulevard de la Défense, 92000 Nanterre. VINCI holds the registration number 552 037 806 RCS Nanterre. For more information on their offerings, interested employees can reach out to the shareholders relations department via email: actionnaires@vinci.com.
In a significant move aimed at enhancing employee engagement, VINCI has announced new shares to be issued, specifically reserved for its employees in France. This initiative is part of the company's ongoing commitment to its workforce and aligns with the goals of its savings plan.
Details of the Share Offering
The Combined General Meeting of Shareholders took place earlier this year and empowered the Board of Directors with the authority to proceed with capital increases reserved for employees over the next 26 months. This delegation will expire on June 8, 2026. During a subsequent meeting, the Board of Directors outlined the method to determine the issue price of the upcoming shares.
Key Dates and Conditions
As part of this offering, the Board of Directors has set a timeline for employee subscriptions. The subscription period is scheduled to run from September 1 to December 31, 2024. The total number of shares issued and the overall monetary value will depend on how many employees choose to subscribe.
Shares Pricing Structure
The pricing of the new shares is determined to be 95% of the average opening prices of VINCI shares on the Euronext Paris market over the 20 trading days preceding the June 13, 2024 meeting. This sets the issue price at approximately €107.41 per share.
Limits on Share Issuance
It's important to note that the total number of new shares that can be issued is capped. This limit is outlined in the 12th resolution from the General Meeting held earlier this year, which also accommodates issuance for employees located in select foreign countries. Specifically, the issuance cannot exceed 1.5% of VINCI's authorized share capital at the time the Board makes its decision.
Next Steps for Employees
Looking ahead, the "Castor Relais 2024/3" mutual fund will participate in the subscription of new VINCI shares at the end of January 2025. These shares will facilitate broader employee participation in the company's financial success.
Trading of New Shares
After the shares are created, application will be made to have them traded on the regulated market of Euronext Paris. These ordinary shares will come with full dividend rights effective from January 1, 2024, allowing employees to participate more directly in the company's earnings growth.
Frequently Asked Questions
What is the purpose of VINCI's employee share offering?
The offering aims to encourage employee investment in the company, thereby enhancing their engagement and aligning their interests with VINCI's success.
How can employees subscribe to the share offering?
Employees can subscribe during the designated subscription window from September 1 to December 31, 2024.
What is the pricing structure for the new shares?
The new shares will be priced at 95% of the average opening prices of VINCI shares over the 20 trading days before the Board meeting on June 13, 2024.
Are there limits on how many shares can be issued?
Yes, the number of shares issued is limited to 1.5% of the company's authorized share capital, as per the resolutions from the recent General Meetings.
When will the new shares be available for trading?
The shares will be available for trading on Euronext Paris immediately after their creation, which is planned for early 2025.
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