24 June 2021

Verallia announces the success of its sixth employee shareholding offer

Verallia has successfully completed its sixth employee shareholding offer. This operation, open from May 3 to 17, 2021 in 8 countries, offered Verallia’s employees a new opportunity to become shareholders of the Company under conditions reserved for them (20% discount and a matching contribution scale favorable to small contributions), and to associate them with the Group’s long-term development and performance.

This year, nearly 3,200 employees, i.e. 41% of eligible employees in 8 countries, took part in the offer at a unit subscription price of €25.52 (1). In France, the operation was very well received, with nearly 75% of eligible employees subscribing. The total investment by the Group’s employees (including the Company’s matching contribution) amounts to €15.7 million.

On June 24, 2021, following this operation, which was oversubscribed, 616,364 new ordinary shares, representing 0.5% of the share capital and voting rights, were issued by the Company. In order to, among other, neutralize the dilutive effect of this operation, the Company proceeded simultaneously with a capital reduction by cancelling 1.6 million treasury shares that had been acquired pursuant to the share buyback program (2).

Through this new operation offered to employees Verallia has managed in only six years to reach a rate of employee shareholders of approximately 41%. Employees now hold 3.54% (3) of the Company’ share capital directly and through the Verallia FCPE (employee investment fund) as part of the successive offers reserved for employees.

“The success of this sixth transaction is a further demonstration of our commitment to implementing our ESG roadmap. Our objective is to reach 5% employee shareholding by 2025, and this very good level of participation in the operation is a strong message of employee support for the Group’s strategy. Verallia is one of the few companies to offer employee shareholding every year, which is a tool for aligning the interests of employees and shareholders as part of a profitable, inclusive and sustainable growth strategy” said Michel Giannuzzi, Chairman and CEO of Verallia.

Lastly, in order to involve employee shareholders in the governance of the Company, the Shareholders General Meeting held on June 15, 2021 voted to amend the Company’s by-laws and set out the procedure for appointing the director representing employee shareholders on the Board of Directors.

Verallia’s employee shareholding approach has been rewarded on several occasions, notably last February when Verallia received the FAS CAC All Tradable Grand Prize.

(1) i.e. a discount of approximately 20% compared to the average price of Verallia shares on the regulated Euronext Paris market over the twenty trading days preceding April 30, 2021.

(2) Share capital increase in a total nominal amount of €2,083,310.32, with a share premium of €13,646,298.96. The 616,364 new ordinary shares carry immediate entitlement to dividends, have the same rights and obligations and the same rights to all amounts that may be distributed as the shares already issued, without any restriction or reserve. Share capital decrease by way of cancellation of 1,600,000 treasury shares bought back on June 11, 2021 pursuant to the share buyback program. The Company’ share capital, following completion of these successive operations of share capital increase and share capital decrease, amounts to €413,337,438.54 and is made up of 122,289,183 ordinary shares with a unit par value of €3.38.

(3) Post employee shareholding offer 2021 and after capital increase and reduction.

Verallia announces the success of its sixth employee shareholding offer
24 June 2021
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