SOCIETE GENERALE: Capital increase reserved for employees

Wed Jul 13, 2011 1:29pm EDT

* Reuters is not responsible for the content in this press release.


Paris, 13 July 2011

GLOBAL EMPLOYEE SHARE OWNERSHIP PLAN 2011: RESULT OF THE 24TH CAPITAL INCREASE RESERVED FOR EMPLOYEES



For the 24th consecutive year, Societe Generale offered its employees the opportunity to subscribe to a reserved capital increase.


In 2011, the Global Employee Share Ownership Plan was offered to 135,000 current and former employees in 57 countries. The offer was made from 11 to 26 May 2011 at a subscription price of €37.50 per share with a 20% discount on the base price and a favourable company contribution policy.


One again, the operation proved attractive with some 48,000 current and former employees taking part in the Plan, amounting to a total subscription of €216 million. The subscription rate was 5% higher than in 2010.


At the close of the 2011 Plan, the Group capital stock increased by 0.75% to €970,099,988.75. More than 94,000 employees and retirees are Societe Generale shareholders, together holding 7.6% of the capital and 11.5% of voting rights.


The positive impact of this operation on the Group's Core Tier One ratio, which will be booked on 30 September 2011, is 6 basis points on the Core Tier One ratio at 31 March 2011 on a proforma basis.

 

 

 

 

 

 

 

 

Societe Generale

Societe Generale is one of the largest European financial services groups. Based on a diversified universal banking model, the Group combines financial solidity with a strategy of sustainable growth, and aims to be the reference for relationship banking, recognised on its markets, close to clients, chosen for the quality and commitment of its teams.

Its 157,000 employees* based in 85 countries accompany more than 33 million clients throughout the world on a daily basis. Societe Generale' teams offer advice and services to individual, corporate and institutional customers in three core businesses:

  • Retail banking in France with the Societe Generale branch network, Credit du Nord and Boursorama 

  • International retail banking, with a presence in Central and Eastern Europe and Russia, in the Mediterranean basin, in Sub-Saharan Africa, in Asia and in the French Overseas Territories 

  • Corporate and investment banking with a global expertise in investment banking, financing and global markets.  

Societe Generale is also a significant player in specialised financing and insurance, private banking, asset management and securities services.

Societe Generale is included in the international socially-responsible investment indices: FTSE4good and ASPI. www.societegenerale.com  
* including employees of Societe Marseillaise de Credit acquired in September 2010 by Credit du Nord

 

 

 




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Source: SOCIETE GENERALE via Thomson Reuters ONE

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