Societe Generale Description of the share buyback programme 2020
DESCRIPTION OF THE SHARE BUYBACK PROGRAMME
SUBJECT TO THE AUTORISATION OF THE COMBINED GENERAL MEETING
DATED 19 MAY 2020
13 May 2019
This description is drawn up in accordance with the provisions of Articles 241-1 and 241-2 I of the General Regulation of the French Financial Markets Authority (Autorité des marchés financiers).
1. Date of the General Meeting called to authorise the share buyback programme
The authorisation for the Company to buy its own shares will be proposed to the combined General Meeting dated 19 May 2020.
2. Breakdown by objectives of the securities held
As at 11 May 2020, the allocation of the shares held directly is as follows:
|Allocation to employees and company officers||2,238,415|
|Exercise of rights attached to securities||0|
3. Purposes of the share buyback programme
Societe Generale contemplates renewing its authorisation to buy its own shares so it can:
- grant, cover and honour any free shares allocation plan, employee savings plan and any form of allocation for the benefit of employees and executive officers of the Company or affiliated
companies under the conditions defined by the applicable legal and regulatory provisions;
- cancel them, in accordance with the terms of the authorisation of the combined General Meeting in its 26th resolution;
- deliver shares upon the exercise of rights attached to securities giving access to the Company’s share capital;
- hold and subsequently deliver shares as payment or exchange as part of Group’s external growth transactions;
- allow an investment services provider to trade in the Company’s shares as part of a liquidity agreement compliant with the regulations of the French Financial Markets Authority (Autorité des Marchés Financiers).
4. Maximum amount allocated to the share buyback programme, maximum number and characteristics of the securities, maximum purchase price
The resolution proposed to the General Meeting provides that Societe Generale could purchase its ordinary shares for an amount of up to 5% of the share capital at the completion date of these purchases, within the legal limit of an amount of shares held representing 10% of the share capital after these buybacks.