Sanofi launches action 2016, a worldwide employee stock purchase plan

News Hour:


Sanofi announced  the launch of Action 2016, a worldwide stock purchase plan reserved for its employees. In doing such a capital increase, Sanofi intends to better associate its employees with the future development and results of the company. The plan will take place in more than 90 countries.

On March 3, 2016­ the Board of Directors authorized an issuance of ordinary shares of Sanofi for the benefit of employees participating in the Group Savings Plan. The subscription price is €57.25. It is equal to 80 % of the average of the opening price of the Sanofi share on Euronext Paris over the 20 stock exchange trading sessions preceding June 8, 2016. Any subscription for a minimum of five shares as part of such issuance shall entitle the employee to one matching share. A subscription for ten shares at least or more shall give right to two matching shares as an employer contribution. Employees may choose to subscribe a maximum of 1,500 shares within the limit of a maximum subscription amount which does not exceed 25% of their gross annual remuneration.

An eligibility condition of three months of seniority as at the closing date of the subscription period will be applied. The subscription period will run from June 13, 2016 (inclusive) until June 24, 2016 (inclusive).

The issuance of new shares and the share delivery process should occur by the end of July 2016.

The total number of shares that may be issued under the plan is limited to 6.5 million shares (corresponding to a share capital increase in terms of par value of up to €13 million, representing 0.5 % of the share capital).

The newly issued shares, including the matching shares (the “Shares”) will be subscribed (or delivered) either directly or through employee shareholding funds (“FCPE”), depending on the legal and/or tax regulations applicable in the various countries of residence of the beneficiaries of the capital increase.

The Shares will be fully fungible with the existing ordinary shares of Sanofi and will be entitled to dividends distributed on benefits relating to the fiscal year starting as of January 1, 2016.

The voting rights attached to the Shares subscribed will be directly exercised by the employees.

The subscribers to the plan will be required to hold the Shares or the corresponding “FCPE” units during a period of approximately five years, i.e. until May 31, 2021, except upon the occurrence of an early exit event provided in Article R. 3324-22 of the French Labor Code and authorized in the country of the subscriber.

The listing of the Shares on the Euronext Paris market (ISIN Code: FR0000120578) on the same listing line as the existing shares will be requested as soon as possible after the completion of the capital increase.

 

 

Rafiuzzaman Sifat

Md. Rafiuzzaman Sifat, a CSE graduate turned into journalist, works at News Hour as a staff reporter. He has many years of experience in featured writing in different Bangladeshi newspapers. He is an active blogger, story writer and social network activist. He published a book named 'Se Amar Gopon' inEkushe boi mela Dhaka 2016. Sifat got a BSc. from Ahsanullah University of Science & Technology, Bangladesh. He also works as an Engineer at Bangla Trac Communications Ltd. As an avid traveler and a gourmet food aficionado, he is active in publishing restaurant reviews and cutting-edge articles about culinary culture.
No Comments

Join Epidemiology Congress 2019

Translate this News

Join the Facebook Group

Click here to join the Facebook group of News Hour

Popular Posts

Sacred Games exposes Rajshri Deshpande nude [video]
Yageo Corp to acquire Kemet Corp in a $1.8 billion deal
Anurag Kashyap shoots Kubra Saith 7 times nude and made her cry for frontal nudity scene [Video]
A ransomware attack hit computer servers and halted administrative work at Pemex
Paperfly launches delivery services covering 64 districts in Bangladesh
Grameenphone brings in the iPhone 11 series in Bangladesh

Advertisement

News of the Month

June 2016
S M T W T F S
« Jan   Jul »
 1234
567891011
12131415161718
19202122232425
2627282930  
Scroll Up
%d bloggers like this: