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2016 REGISTRATION DOCUMENT
HERMÈS INTERNATIONAL
258
INFORMATION ON THE COMPANY AND ITS SHARE CAPITAL
7
INFORMATION ON SHARE CAPITAL AND SHAREHOLDERS
•
Christian Dior declared that it crossed above, on 17 December
2014,followingadistributionforitsbenefitofHermèsInternational
shares previously held by Financière Jean Goujon, the thresholds
of5%ofthesharecapitalandvotingrights inHermèsInternational,
then crossed below the same thresholds on the same day, fol-
lowing an exceptional distribution in kind of Hermès International
shares and payment of an interim dividend in kind in the form of
Hermès International shares by Christian Dior for the benefit of
its shareholders;
•
the company Semyrhamis declared that it crossed above, on
17 December 2014, following the aforementioned Hermès
International share distribution transactions performed by
Christian Dior for the benefit of its shareholders, the thresholds
of 5% of the share capital of Hermès International, and the same
day, following purchases from other companies controlled by the
Arnault family group, the threshold of 5% of the voting rights in
Hermès International.
7.2.2.9
Exemption decision
At its meeting of 6 January 2011, the AMF granted an exemption to the
requirement to file a proposed public offering to buy out the shares of
Hermès International, following a petition filed by 52 natural persons
and their family companies that are direct shareholders of Hermès
International (see decision No. 211C0024, the entire text of which is
available on the AMF’s website –
www.amf-france.org).
This decision has become definitive.
7.2.2.10
Pledging of shares
Duly registered shares are not encumbered by any material pledges.
7.2.2.11
Share buyback programme
Use in 2016 of authorisations to buy back shares granted
by the General Meeting
The Combined General Meetings of 2 June 2015 and 31 May 2016
approved share buyback programmes authorising the Executive
Management, on the basis of Articles L. 225-209
et seq.
of the French
Commercial Code, to purchase, on or off the market, a number of shares
representing up to 10% of the Company’s share capital as of the date of
purchase in order to allot them to the objectives permitted by European
regulations (cancellation of shares within the limit of 10% of the share
capital per 24-month period, covering the commitment to deliver shares,
i.e.
in connection with issuances of securities granting access to capital
or grants of existing stock or stock options, allocation to employees) or to
one or moremarket practices currently or later accepted by the Financial
Markets Authority (“AMF”) (acquisition practices and the implementa-
tion of a liquidity contract with an investment service provider acting
independently), andmore generally to allot them to carrying out any ope-
ration in accordance with the regulations in force.
The Combined General Meetings of 2 June 2015 and 31 May 2016
authorised the Executive Management to reduce the share capital by
cancellation of repurchased shares, within the limit of 10% of the share
capital per period of 24 months.
The characteristics of the delegations granted to the Executive
Management are detailed on page 266 et seq.
During the financial year ended 31 December 2016, the Executive
Management assigned the transactions shown in the table below, in
the context of share buyback programmes authorising the Executive
Management to buy and sell its own shares under Article L. 225-209 of
the French Commercial Code (
Code de commerce
).