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INFORMATION ABOUT THE COMPANY AND ITS CAPITAL
4
Share capital
For information, the results of the 2015 programme were as follows:
Volume
Amount
(€)
Average price
(€)
Purchases
443,050
4,749,720
10.72
Sales
446,524
4,797,166
10.74
These transactions resulted in a gain for Altamir, net of additions
to and reversals of provisions, of €45,836.
TAX TREATMENT OF SHARE BUYBACKS
For Altamir
As SCRs are exempt from corporation tax on all capital gains,
Altamir, an SCR, is not liable for tax on gains from buybacks of
its own shares.
For the seller of the shares
The specific features of the various tax regimes are set out in
section 4.3.
4.1.6
DIVIDENDS
Dividends are paid at the times and places designated by the
Management Company and no later than nine months from the
balance sheet date, unless this deadline is extended by court
order.
In accordancewith legal provisions, dividends not claimedwithin
five years of the date on which they were to be paid are forfeited
and the amounts paid over to the State.
A dividend of €0.20 was paid on each ordinary share and of
€152.73 on each Class B share in respect of 2011. A dividend of
€0.41 was paid on each ordinary share and of €487 on each
Class B share in respect of 2012. A dividend of €0.4459 was paid
on each ordinary share and of €384.1 on each Class B share in
respect of 2013. A dividend of €0.50 was paid on each ordinary
share and of €1,348.95 on each Class B share in respect of 2014. A
dividendof €0.56was paidon each ordinary share andof €813.58
on each Class B share in respect of 2015.
4.1.7
FACTORS THAT COULD HAVE
AN IMPACT IN THE EVENT
OF A TAKEOVER BID
The Company is organised as a French partnership limited by
shares (
société en commandite par actions
). In practice, it cannot
be subject to a takeover bid resulting in control of the Company
passing to a limited partner with a majority shareholding.
Pursuant toArticle L. 225-100-3 of the French Commercial Code,
we hereby inform you of the following items:
the structure of the capital as well the direct and indirect
holdings that are known to the Company and all related
information is provided in section 4.2.1;
theArticles of Association contain no restrictionon the exercise
of voting rights or on the transfer of ordinary shares;
to the best of the Company’s knowledge, there are no
agreements or other commitments between shareholders;
there are no shares that carry special voting rights, except for
the Class B preferred shares. These have no voting rights but
can give the right to the payment of a dividend as stipulated
in the Articles of Association;
there is no mechanism under which a potential employee
shareholding system could exercise control rights;
Article 15 of the Articles of Association stipulates that only
the general partner is entitled to appoint and dismiss the
Management Company;
concerning the powers of the Management Company, there
is no authorisation currently in effect to increase capital with
the exception of that granted by the shareholders at their
General Meeting on 15April 2016, authorising theManagement
Company to increase capital through the issuance of ordinary
shares and/or securities giving access to shares with waiver of
preferential subscription rights for the benefit of themembers
of an employee savings plan, pursuant to Articles L.3332-18 et
seq. of theFrenchLabour Code. This authorisationhas a validity
of 26 months. The maximum par amount of capital increases
that it allows, independent of any other capital increase ceiling,
is €10,000. This authorisation was not used;
the powers of the Management Company regarding share
buybacks is detailed in section 4.1.5;
the Company’s Articles of Association can be amended in
accordance with legal and regulatory requirements;
the Company is not party to any agreements that change or
terminate in the event of a change in control of the Company;
there are no specific agreements that include payments in
the event the Manager’s functions are terminated (n.b. the
Company has no employees);
the Company has no knowledge of any pledge on its share
capital (paragraph 21.1.7 of the European Regulation).
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REGISTRATION DOCUMENT
1
ALTAMIR 2016