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2020 SHARE CAPITAL INCREASE
RESERVED FOR EMPLOYEES OF THE CRÉDIT AGRICOLE GROUP
Crédit
Crédit
The maximum number of shares to issue is 32 million, giving a nominal value of
The Board of Directors of Crédit
The ACR 2020 is part of the policy promoting employees’ participation to the Group's financial performance and the gradual increase in the employees’ share in Crédit Agricole SA’s capital through reserved offers.
The discount will apply to the average opening price of Crédit
In the event of subscription of all the shares offered, this transaction is expected to have a maximum positive effect of 5 basis points on Crédit
The characteristics of the offer are detailed in the following pages.
1. PURPOSE OF THE OFFER
The purpose of the offer reserved for employees described in this information document (“the Offer”) is to enable employees of the Crédit Agricole group to be more closely associated with the growth of the Company.
2. SHARE ISSUER
Crédit
Information relating to the Company is available on its website at (www.credit-agricole.com), and in particular, in the universal registration document available on this website.
3. CONTEXT OF THE OFFER – SECURITIES OFFERED
The subscription of shares is proposed in the context of the French law company savings plans (plans d’épargne d’entreprise) established by the French companies which participate in the Offer and the international group company savings plan established under French law within the companies of the Scope of the Offer internationally.
The Offer is made on the basis to the Company’s shareholders’ authorisation given by the 36th resolution of the extraordinary general meeting of shareholders of
The shares that the employees of the Crédit Agricole group may subscribe under the Offer (the “Shares) are ordinary shares with a nominal value of
4. ADMISSION TO TRADING ON A REGULATED MARKET
The admission of the new Shares to trading on the market of Euronext Paris will be requested upon their issuance, scheduled on
Upon admission to the market of Euronext Paris, the new Shares will be entirely fungible with the shares of the Company already listed on such market and traded at the same trading line under ISIN code number FR000045072.
5. MAXIMUM NUMBER OF ISSUABLE SHARES
Pursuant to the decision of the Board of Directors of the Company, 32 million shares can be issued in the context of the Offer, equal to the total nominal value of
6. SUBSCRIPTION TERMS
Beneficiaries of the offer:
The beneficiaries of the Offer are employees having a seniority of more than 3 months on the last day of the subscription period, acquired consecutively or not since
The “Scope of the Offer” includes:
- the Company;
- the entities and groups which are comprised in the scope of consolidated accounts of the Company pursuant to Article L. 233-16 of the French Commercial Code (Code de Commerce), at the latest on the day before the opening of the subscription period, the scope of implementation of the offering being extended to entities having their registered office (i) in
France or (ii)Germany ,Egypt ,Spain ,United States of America ,Hong Kong ,Ireland ,Italy ,Japan , Luxembourg,Monaco ,Netherlands ,Poland ,Portugal ,United Kingdom ,Serbia ,Singapore andSwitzerland , provided they are held directly or indirectly at least 50% by the Company and subject to legal and tax provisions applicable in the countries concerned; - the Caisses régionales de Crédit Agricole Mutuel ;
- the companies controlled by the Caisses régionales de Crédit Agricole Mutuel, whether directly or indirectly, the scope of implementation of the offering being extended to entities having their registered office in (i)
France and (ii)Spain , Luxembourg andSwitzerland , subject to the legal and tax provisions applicable in the countries concerned; - the entities controlled by the Company and/or the Caisses régionales de Crédit Agricole Mutuel pursuant to Article L. 225-180 of the French Commercial Code (Code de Commerce) and Articles L. 3344-1 and L. 3344-2 of the French Labor Code (Code du Travail) having their registered office in
France ;
subject to the condition that (i) the entities listed above have set-up a company savings plan (plan d’épargne entreprise) or have joined one of company savings plans, group savings plans (plan d’épargne groupe) or the international group savings plan (PEEGI) allowing participation in the Offer and (ii) applicable local rules and regulations are observed.
Procedures for subscription:
Employees participating in the Offer implemented in
Subscription price:
The subscription price will be equal to 70% of the average of opening prices of the Crédit
The Subscription Price will be notified to Employees via Intranet of companies participating to the Offer and on the offering website.
Maximum subscription amount:
The total maximum subscription in the Offer is set at
Lock-up of the shares or the FCPE units subscribed in the context of the Offer:
The subscribers must hold the Shares or the FCPE units subscribed in the context of the Offer until
Exercise of voting rights attached to shares:
When shares are subscribed through an FCPE, voting rights are exercised by the unitholders or by the FCPE Supervisory Board (conseil de surveillance), in accordance with the FCPE regulations. With regard to the Shares subscribed for directly, the voting rights will be exercised individually by the employees concerned.
7. PROCEDURE IN CASE OF OVER-SUBSCRIPTION
The amount of individual subscriptions may be reduced if the total of the subscription commitments received exceeds the maximum amount set for the capital increase as indicated in Paragraph 5 above. These subscription commitments will be reduced in accordance with the following rules:
- the individual subscription commitments will be progressively reduced down starting with the highest subscription commitments, until the subscription threshold after reduction is reached (the “Reduction Threshold”) so that the total of the individual subscription commitments is less than or equal to the maximum amount offered;
- as the result, all subscription commitments that are less than or equal to the Reduction Threshold will be served entirely and subscription commitments that exceed the Reduction Threshold will be served up to this threshold;
- in the case of French subscribers, the possible subscription reduction is first deducted from the portion of the subscription which is financed by way of bank debit, and then on the sums resulting from a transfer of employee savings.
Moreover, a specific ceiling is applied to subscriptions in certain countries, especially
8. INDICATIVE TIME SCHEDULE OF THE OFFER
Setting of the subscription price for Shares: scheduled for
Subscription period for Shares: scheduled from
Settlement/delivery of the Shares: scheduled for
This time schedule is indicative and may be altered due to events affecting the conditions of implementation of the transaction.
9. LEGAL NOTICE
Further information on Crédit
The Offer will be implemented only in countries where such an offering has been registered or notified to the competent local authorities and/or following an approval of a prospectus by the competent local authorities or in consideration of exemption from the requirement to prepare a prospectus or a registration or notification of the Offer.
More generally, the Offer will only be conducted in countries where all procedures of registering and/or notifications have been completed and the necessary authorizations have been obtained.
The Company may decide not to complete the Offer, or suspending or postponing it in the event that market conditions do not allow for the Offer to be carried out under optimal conditions.
This information document is for informative purposes and should not be considered as a form of canvassing or solicitation for the participation of Employees in the Offer. Furthermore, neither Crédit
10. CONTACT FOR THE BENEFICIARIES OF THE OFFER
For any questions regarding the Offer, beneficiaries may contact their Human Resources manager and/or any other person specified in the documentation relating to the Offer provided to beneficiaries.
Crédit
Charlotte de Chavagnac + 33 (0)1 57 72 11 17 charlotte.dechavagnac@credit-agricole-sa.fr
Individual shareholders contacts
Toll-free number (from
Credit-agricole-sa@relations-actionnaires.com
All our press releases are available at: www.credit-agricole.com
Attachment
- 2020 10 01 (GB) ACR2020
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