Sanofi Launches "Action 2017", a Worldwide Employee Stock Purchase Plan
June 15 2017 - 12:03AM
Sanofi Launches "Action 2017", a Worldwide
Employee Stock Purchase Plan
Paris, France - June 15, 2017 - Sanofi
announced today the launch of "Action 2017", 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 approximately 80 countries.
On March 2, 2017 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 €70.01. 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 14, 2017. Any
subscription per five shares as part of such issuance shall entitle
the employee to one matching share. Subscriptions equal to or
higher than 20 shares shall give right to 4 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 19, 2017
(inclusive) until June 30, 2017 (inclusive).
The issuance of new shares and the share
delivery process should occur at the end of July 2017.
The total number of shares that may be issued
under the plan is limited to 6,460,111 shares (corresponding to a
share capital increase in terms of par value of up to €12,920,222,
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, 2017.
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, 2022, 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.
This press release does not constitute an offer
to sell or a solicitation to purchase Sanofi shares. The offering
of Sanofi shares reserved for employees will be conducted only in
countries where such an offering has been registered or notified to
the competent local authorities and/or following approval of a
prospectus by the competent local authorities or in consideration
of an exemption to prepare a prospectus or to make any registration
or notification of the offering, when such a procedure is
required.
More generally, the offering will only be
conducted in countries where all required filing procedures and/or
notifications have been completed and the authorizations have been
obtained, and procedures for consultation or information of staff
representatives have been fulfilled.
This press release is not intended for, and
copies thereof should not be sent to, countries in which such a
prospectus has been approved or such an exemption is not available
or where all of the required filing procedures, notifications,
consultation and/or information required have been completed or
where the authorizations have been obtained. This applies in
particular to Cambodia, Cameroon, China, Morocco, Portugal and
Vietnam where the formalities are still pending with the
authorities, but could also involve other countries.
For any questions related to the following share
capital increase, each beneficiary may consult the information
booklet and all other documents made available and/or contact
his/her human resources manager.
This press release is made in reliance of the
exemption from publishing a prospectus provided for in Article
4(1)(e) of the EU Prospectus Directive 2003/71/EC, as amended. It
constitutes the document required to qualify for the exemption from
the requirement to publish a prospectus as defined in the EU
Prospectus Directive 2003/71/EC, as amended, transposed in internal
law of the member states of the European Union and, with respect to
French law, to Articles 212-4 (paragraph 5) and 212-5 (paragraph 6)
of the AMF's General Regulations and to Article 19 of Instruction
n°2016-04 of October 21, 2016, as well as the press release
required by the AMF in accordance with Article 221-3 of the AMF's
General Regulations.
About Sanofi
Sanofi, a global healthcare leader, discovers,
develops and distributes therapeutic solutions focused on patients'
needs. Sanofi is organized into five global business units:
Diabetes and Cardiovascular, General Medicines and Emerging
Markets, Sanofi Genzyme, Sanofi Pasteur and Consumer Healthcare.
Sanofi is listed in Paris (EURONEXT: SAN) and in New York
(NYSE: SNY).
Contacts:
Media
Relations |
Investor Relations |
Nicolas
Kressmann |
George
Grofik |
Tel.: +
(33) 1 53 77 46 46 |
Tel.: +
(33) 1 53 77 45 45 |
mr@sanofi.com |
ir@sanofi.com |
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