IT major, Capgemini has announced the launch of its ninth Employee Share Ownership Plan (ESOP). This new employee share ownership plan is offered to approximately 97% of the employees and is part of the Group’s policy to associate all employees with its development and performance.
This ESOP will be implemented through a capital increase reserved for the Capgemini employees for a maximum of 3,500,000 shares (i.e. 2.0% of outstanding shares), with settlement delivery no later than December 15, 2022.
As the 2017 ESOP reaches its term at the end of the year, this ninth plan will help maintain employee shareholding at around 8% of capital.
As in 2021, the Board of Directors of Capgemini SE at its meeting on June 15 and 16, 2022 decided to authorize a dedicated share buyback envelope. This envelope could be used within the limits of the authorization granted by the Shareholders’ Meeting of May 19, 2022 and within the next 12 months to neutralize all or part of the dilutive effect of this capital increase.
According to the planned schedule, the reservation period will be opened from September 14 to October 3, 2022 (inclusive) and will be followed by a subscription/revocation period from November 7 to November 9, 2022 (inclusive).
The subscription price of the new shares will be set on November 3, 2022 and the capital increase will be completed on December 15, 2022.
Employees will be able to subscribe to Capgemini shares within the framework of subscription leveraged and guaranteed formulas. These formulas will allow employees, until the shares become available, to benefit from a guarantee on the amount invested into this plan.
The voting rights will be exercised by the holders who – depending on the formula and the context – will be an FCPE (Fonds Commun de Placement d’Entreprise), the employees via direct shareholding and/or the financial institution structuring the offer or its counterparties.
The implementation of the leveraged guaranteed offering implies hedging transactions entered into by the financial institution structuring the offer (Crédit Agricole Corporate and Investment Bank), on-market or off-market, through purchases and/or sales of shares, purchase of call options and/or any other transactions, at any time, including during the Reference Price fixing period, i.e. from October 6 to November 2, 2022, and over the entire course of the plan, i.e. until December 15, 2027.