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INFORMATION ABOUT THE COMPANY AND ITS SHARE CAPITAL
7
INFORMATION ABOUT THE SHARE CAPITAL
7.2.9
TREASURY SHARE TRANSACTIONS
CARRIED OUT BY THE COMPANY IN 2016
(ARTICLE L. 225-211 OF THE FRENCH
COMMERCIAL CODE)
At the Annual General Meeting of 24 May 2016, the shareholders
granted an authorisation to put in place a share buyback programme.
This new authorisation superseded the previous authorisation granted for
the same purpose in the seventeenth resolution of the Annual General
Meeting of 22 May 2015.
7.2.10
DESCRIPTION OF THE SHARE BUYBACK
PROGRAMME (SET UP IN ACCORDANCE
WITH ARTICLE 241-2 OF THE AMF’S
GENERAL REGULATIONS)
In compliance with Article L. 225-209 of the French Commercial Code,
at the Annual General Meeting held on 24 May 2016, Assystem’s
shareholders granted the Company an eighteen-month authorisation
to buy back its own shares, expiring on 24 November 2017. This
authorisation superseded the previous authorisation granted for the same
purpose at the Annual General Meeting of 22 May 2015.
A document describing the share buyback programme put in place
by the Board of Directors at its 24 May 2016 meeting was filed
electronically with the AMF and published electronically by Hugin
InPublic (a professional distributor on the AMF list).
The shares bought back under the programme may not represent over
10% of the Company’s capital and the maximum purchase price set
by the Company’s shareholders was €30 (excluding costs). The overall
ceiling on the programme is €55,000,000.
The shares purchased under the buyback programme may be used for
the following purposes:
●
to maintain the liquidity of the Company’s shares under a liquidity
contract entered into with an investment services provider that
complies with a Code of Conduct recognised by the AMF;
●
to honour obligations associated with stock option and/or free share/
performance share plans, employee savings schemes or other share
allotments made to employees and officers of the Company or related
companies;
●
for allocation on exercise of rights attached to securities redeemable,
convertible, exchangeable or otherwise exercisable for the Company’s shares;
●
to be held and subsequently used in exchange or as payment in
connection with external growth transactions;
●
for subsequent cancellation; or
●
more generally, for any purpose authorised by law or any market
practice that may be permitted by the market authorities, provided
that in such a case the Company notifies its shareholders by way of
a press release.
In the event of a corporate action, such as the capitalisation of reserves
and a bonus share allotment, a stock split or reverse stock split, the
prices indicated above will be adjusted accordingly.
If the Company buys back its own shares without subsequently cancelling
them, this may have an impact on its taxable earnings if the shares are
then sold or transferred at a different price than their purchase price.
7.2.11
USE OF SHARE BUYBACK PROGRAMMES IN 2016
The table below provides a summary of Assystem’s use of its share buyback programmes during 2016:
Treasury shares held at 31/12/2015
680,149
Number of shares used per end-purpose
Liquidity contracts and share buyback mandate:
•
Shares purchased under the liquidity contract
247,091
•
Shares purchased under the share buyback mandate
423,020
•
Shares sold under the liquidity contract
(234,603)
•
Shares cancelled during the year
Shares sold outside the scope of the liquidity contract
Shares allocated to employees or officers:
•
Shares delivered under free or performance share plans
(30,530)
•
Shares delivered to redeem Ornane bonds
(346)
Shares used for external growth transactions:
•
Shares used as payment in connection with external growth transactions
(16,339)
Shares cancelled:
•
Shares cancelled during the year
•
Shares cancelled during the past 24 months
Treasury shares held at 31/12/2016
1,068,442
Value of shares held at 31/12/2016 at the average purchase price
22,728,093
Additional information
(in euros)
:
•
Average purchase price
23.39
•
Average sale price
21.37
•
Transaction costs
127,197
ASSYSTEM
REGISTRATION DOCUMENT
2016
158