Financial authorisations

 

The following financial authorisations have been approved by the shareholder of the Company on 11 May 2017:

 

Purpose of the authorisation Maximum nominal amount authorised Validity period of the authorisation
Delegation of powers to the Board of Directors to issue, with preferential subscription rights for shareholders, shares or negotiable securities conferring immediate or future rights to the Company’s share capital and/or to the allotment of debt securities Shares:

€100 million

Debt securities:

€600 million

26 months
Delegation of powers to the Board of Directors to issue, without preferential subscription rights for shareholders and by public offering, shares or negotiable securities conferring immediate or future rights to the Company’s share capital, with the option of granting a priority period Shares:

€80 million

Debt securities:

€600 million

26 months
Delegation of powers to the Board of Directors to issue, without preferential subscription rights for shareholders, shares or negotiable securities conferring immediate or future rights to the Company’s share capital, as part of an offer referred to under article 411-2 of the French Monetary and Financial Code Shares:

15% of the share capital

Debt securities:

€600 million

26 months
Authorisation of the Board of Directors to increase the number of shares to be issued in the event of a capital increase with or without preferential subscription rights 15% of the issue 26 months
Delegation of powers to the Board of Directors to issue, without preferential subscription rights for shareholders, shares or negotiable securities conferring rights immediately or in the future to the share capital as a result of the issue by an affiliated company of negotiable securities conferring rights to the Company’s capital Shares:

€80 million

Debt securities:

€600 million

26 months
Delegation of powers to the Board of Directors to issue shares or negotiable securities conferring rights immediately or in the future to the share capital in consideration for securities tendered in the event of a public exchange or similar offer Shares:

€80 million

Debt securities:

€600 million

26 months
Authorisation of the Board of Directors to set the issue price for the shares to be issued in the event of a capital increase without preferential subscription rights 10% of the share capital 26 months
Delegation of powers to the Board of Directors to issue shares or negotiable securities conferring rights immediately or in the future to the share capital in consideration for contributions in kind received by the Company 10% of the share capital 26 months
Delegation of powers to the Board of Directors to increase the share capital by capitalising premiums, reserves, earnings or other amounts Total amounts that may be capitalised 26 months
Issue of shares and/or of negotiable securities conferring rights to the share capital reserved for employees belonging to a corporate savings plan 5% of the share capital(1) 26 months
Issue of shares and/or of negotiable securities conferring rights to the share capital reserved for employees of the Group’s foreign subsidiaries 5% of the share capital(2) 18 months
Stock options 5% of the share capital(3) 38 months
Bonus shares 5% of the share capital(4) 26 months
Share repurchases 10% of the share capital 18 months
Reduction in share capital 10% of the share capital 18 months(5)

 

(1) The total number of shares and negotiable securities issued to employees of foreign subsidiaries counts against this limit.

(2) The total number of shares and negotiable securities issued to employees belonging to a corporate savings plan counts against this limit.

(3) The total number of bonus shares allotted free of charge counts against this limit.

(4) The total number of stock options awarded by the Board of Directors counts against this limit.

(5) Authorisation expiring in any event at the close of the general meeting called to approve the 2017 financial statements.