Compagnie des Alpes - 2017 Registration Document

6 SHARE CAPITAL AND SHAREHOLDER STRUCTURE Share capital

6.1.2

TREASURY STOCK

At 30 September 2017, the Company owned 15,963 shares of treasury stock, valued at €345,274.85. 6.1.2.1 Share buybacks From 1 st October 2016 to 30 September 2017, there were two successive share buyback programmes under the authorisations granted by the Shareholders’ Meeting to allow the Company to buy back CDA shares, with total treasury stock limited to 10% of the share capital: z the programme already in place during the preceding fiscal year, implemented on 19 May 2016 by the Board of Directors on the basis of the authorisation given to it by the Shareholders’ Meeting of 10 March 2016; z a new share buyback programme, implemented by the Board on 18 May 2017, pursuant to the new authorisation given to it by the Shareholders’ Meeting of 9 March 2017. The latter authorisation was granted to the Board of Directors for a new period of 18 months. Pursuant to Articles 241-1 to 241-6 of the AMF general regulation and European Regulation (EC) No. 596/2014 of 16 April 2014, this document outlines the goals and procedures of the programme, identical to those of the previous programme, namely: z ensuring the market-making on the secondary market or the liquidity of the Compagnie des Alpes share by an investment-service provider under a liquidity contract, in compliance with an AMF-recognised Ethics Charter; z holding, selling or transferring the aforesaid shares by any means, especially through exchange or delivery of securities, particularly in the framework of acquisitions or the issuance of securities giving access to capital;

z attributing shares to employees and corporate officers of the Company, or of companies or groups to which the Company is related, under the conditions and in accordance with procedures provided for by law, especially through income from Company acquisitions, stock options, the award of free shares, a group or company savings scheme, or an optional plan for an employee- employer savings partnership. During the 2016/2017 fiscal year, the share buyback programme was used for the market-making of the share under the liquidity contract in force - see below. 6.1.2.2 Liquidity contract The liquidity contract signed with Natixis in May 2015 expired on 30 September 2016. On 4 October 2016, and for an initial period of one year, which can be renewed by tacit consent, the new liquidity contract was granted to Oddo & Cie. This liquidity contract, compliant with the AMAFI Ethics Charter approved by the AMF with the decision dated 8 March 2011, is fully dedicated to the management of Compagnie des Alpes securities. The above-mentioned means provided in securities and cash were transferred and allocated to the new liquidity account opened with Oddo & Cie. During the 2016/2017 fiscal year, under these two successive liquidity contracts, 185,629 shares were purchased and 194,413 shares were sold. 6.1.2.3 Share awards to employees In 2016/2017, the Company did not proceed with any share buybacks for free share awards to employees under performance plans. At 30 September 2017, the Company owned 6,170 shares allocated for the same purpose.

6.1.2.4 Annual summary of buybacks The share buyback programme results, from 1 st October 2016 to 30 September 2017, are illustrated below:

Position at 30 September 2017 Percentage of treasury stock, held directly or indirectly Number of shares cancelled over the last 24 months

Not significant

None

15,693

Number of shares in the portfolio (1)

345 422

Carrying amount of portfolio at 30 September 2017 (in thousands of euros) Portfolio market value at 30 September 2017 (in thousands of euros) (2)

(1) Of which 9,793 shares allocated to the liquidity contract and 6,170 shares allocated for awards to employees. (2) On the basis of the stock price of €26.95 per share at 30 September 2017.

Accumulated gross transactions at 30 September 2017

Purchases

Sales

Transfers

Number of shares

185,629

193,413

– – – –

21.38 21.94 3,969

21.48 21.94 4,175

Average transaction price (in euros) Average exercise price (in euros)

Amounts (in thousands of euros)

It must be noted that the Company did not use derivative instruments.

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Compagnie des Alpes I 2017 Registration Document