Saint Gobain - Registration document 2016

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8 CAPITAL AND OWNERSHIP STRUCTURE
1. Capital
192 SAINT-GOBAIN - REGISTRATION DOCUMENT 2016
SAINT-GOBAIN TREASURY SHARES AND ACQUISITION OF OWN 1.3
SHARES
Treasury shares and own stock 1.3.1
par value of €4, acquired at an average purchase price of €35.05. At that date it was not holding any own shares indirectly.
At December 31, 2016, Compagnie de Saint-Gobain directly held a total of 1,230,716 own shares, i.e. 0.2% of its capital stock, with
The following table shows, at December 31, 2016, the allocation of treasury shares held directly by Compagnie de Saint-Gobain
for purposes of the program authorized by the General Shareholders’ Meeting of June 2, 2016:
Purpose percentage of capital stock
Number of shares and Average purchase price
(in euros)
Coverage of performance share plans and other allocations to employees
(including stock options for existing shares)
1,230,716 shares
(0.20% of capital stock)
€35.05
Liquidity agreement 0 share -
Cancellation 0 share -
remitted as part of existing performance share plans.
During the 2016 fiscal year, 366,105 treasury shares were
resulted in a share capital reduction of a €44 million par value.
accelerated bookbuilding process completed by Wendel (see
Section 2.2.2 of this Chapter 8). This share cancellation
cancelled on May 30, 2016, of which 10 million shares had
been previously bought back on May 3, 2016, as part of an
By resolution of the Board of Directors, 11 million shares were
year (excluding liquidity agreement)
Information on transactions involving 1.3.2
own shares during the 2016 fiscal
trading expenses, fees and taxes incurred by the Company in
2016 in connection with all transactions on its own shares
the liquidity agreement, 10,920,230 shares, at an average
price of €38.18, and did not sell any of its own shares. Total
Shareholders’ Meetings of June 4, 2015 and June 2, 2016 to
the Board of Directors, the Company purchased, excluding
In 2016, as part of the authorizations granted by the General
(including the liquidity agreement) amounted to €1,046,000.
open purchase or sale positions at December 31, 2016.
It made no use of derivative products in connection with
these transactions. Further, the Company was holding no
Liquidity agreement 1.3.3
justified by market trends.
de Saint-Gobain shares and ensure that prices are regularly
quoted for the shares, so as to avoid price fluctuations not
(AMAFI). Under the terms of the agreement, Exane is
mandated to maintain a liquid market in Compagnie
issued by the Association Française des Marchés Financiers
an agreement with Exane BNP Paribas to provide liquidity for
Saint-Gobain shares, in accordance with the code of ethics
In November 2007, Compagnie de Saint-Gobain entered into
to €5 million at June 26, 2014. At December 31, 2016 no shares
were held in the account, which was in credit for €5.3 million
this agreement and applied to the credit of the liquidity
account were reduced from €6.7 million at December 31, 2013
The resources provided by Compagnie de Saint-Gobain under
in cash.
agreement were reallocated to another purpose of the share
buyback program in 2016.
price of €37.81, while 1,339,926 shares were sold at an average
price of €37.96. No shares allocated to the liquidity
Cumulative purchases during the 2016 fiscal year under the
liquidity agreement involved 1,325,926 shares at an average