Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 2.54 0.14%
NASDAQ 4,095.52 9.29 0.23%
Ticker Volume Price Price Delta
STOXX 50 3,155.81 16.55 0.53%
FTSE 100 6,625.25 41.08 0.62%
DAX 9,409.71 91.89 0.99%
Ticker Volume Price Price Delta
NIKKEI 14,516.27 98.74 0.68%
TOPIX 1,173.37 6.78 0.58%
HANG SENG 22,760.24 64.23 0.28%

BIC : BIC : DESCRIPTION OF THE SHARE REPURCHASE PROGRAM



           BIC : BIC : DESCRIPTION OF THE SHARE REPURCHASE PROGRAM

This translation is given for information only.
Only the French version shall be deemed authentic.

                                 SOCIÉTÉ BIC
           14, rue Jeanne d'Asnières - 92 611 Clichy Cedex (France)
                 Limited company capital: EUR 184,675,714.96
                 552 008 443 Registered in Nanterre (France)

                 DESCRIPTION OF THE SHARE REPURCHASE PROGRAM

    I.Breakdown of owned shares by purpose as of June 10, 2013

Number of directly or indirectly owned shares: 1,494,615 i.e. 3.08% of share
capital.

Number of owned shares:        1,494,615:

Number of owned shares by purpose:

  * Coverage of free grants plans: 777,309 

  * Cancellation : 713,196 

  * Liquidity agreement: 4,110 

    II.New share repurchase program

  * Authorization for the program: Annual Shareholders' Meeting of May 15,
    2013 

  * Shares concerned: ordinary shares 

  * 

The shareholders have  authorized the  Board of  Directors to  buyback by  any 
means, once or several times, the shares of the Company:

1.  Within the limit of  a number of shares representing  a maximum of 10%  of 
its share capital on the date of  the Board of Directors' decision to  buyback 
the shares:

·   for a maximum amount of 600 million euros, under the conditions and limits
provided by the laws and regulations in force,

·   for a maximum purchase price of 125 euros, exclusive of costs.

This authorization can be used by the Board of Directors in order to:

·   provide  liquidity and  stimulate  the market  of  the securities  of  the 
Company through an  investment service  provider acting  independently in  the 
name and on behalf of the Company, pursuant to a liquidity agreement compliant
with professional  ethics standards  recognized by  the Paris  Stock  Exchange 
Authority;

·   hold them in order to subsequently  remit them as payment, as exchange  or 
otherwise, within the scope of potential external growth operations (with  the 
exception of  mergers, demergers  or contribution  operations referred  to  in 
paragraph 2 below)  in accordance with  the market practices  approved by  the 
Paris Stock Exchange Authority;

·   remit them at the moment of  the use of rights attached to the  securities 
giving access to  the Company's  share capital  by reimbursement,  conversion, 
exchange, presentation of a bond or by any other means;

·   allocate them to employees and managers under the conditions and according
to the methods prescribed  by the law, notably  within the scope of  employees 
profit sharing scheme, the stock option program, the free allocation of shares
plan or through an employee saving scheme;

·   cancel them entirely  or partly, according to  the conditions provided  by 
the regulations in force,  by reducing accordingly  the share capital,  within 
the limit of 10% of the capital existing on the cancellation date, by  periods 
of 24 months;

·   implement all market practices which may be authorized by the Paris  Stock 
Exchange Authority.

2.  Within the limit of a number of shares representing a maximum of 5% of its
share capital on the date of the  Board of Directors' decision to buyback  the 
shares:

·   for a maximum amount of 300 million euros,

·   for a maximum purchase price fixed at 125 euros, exclusive of costs;

And in  order to  hold  them and  to subsequently  remit  them as  payment  or 
exchange within the scope of a merger, demerger or contribution operation.

The limits provided in  paragraphs 1 and  2 above are  not cumulative and  the 
Company cannot at any time, directly or through a third party, hold more  than 
10% of the total number of its own shares forming the share capital.

The maximum purchase price per share,  excluding cost, should not exceed  that 
of the last  isolated transaction or,  if it  is higher, that  of the  highest 
current isolated offer on the market where the purchase is made.

The acquisition of  shares of  the Company shall  also comply  with the  rules 
enacted by the Paris Stock Exchange Authority regarding the conditions and the
periods of intervention on the market.  The Company shall abstain from  buying 
more than  25% of  the daily  average  quantity of  shares negotiated  on  the 
regulated market where the purchase is made.

This authorization  is  given  to the  Board  of  Directors for  a  period  of 
18 months  starting  from  the  date  of  this  Shareholders'  Meeting.   This 
authorization may not be  used during public offers  of the Company's  shares, 
except with the prior and express authorization given by the shareholders.

The CEO, duly authorized by the Board of Directors
Mario Guevara

Isin Code: FR0000120966 - Reuters Code: BICP.PA
Contact: Investor Relations: +33 1 45 19 52 26
investors.info@bicworld.com

DESCRIPTION OF THE SHARE REPURCHASE PROGRAM

------------------------------------------------------------------------------

This announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
the
information contained therein.

Source: BIC via Thomson Reuters ONE
HUG#1712955
Sponsored Links
Advertisement
Advertisements
Sponsored Links
Advertisement