Combined General Meeting of June 28, 2022

4 July 2022 Paris, France
All resolutions adopted

Description of the share buyback program

At ESI Group's combined general meeting on 28 June 2022, all resolutions were adopted, including the share buyback program.

In accordance with the provisions of the European Regulation No. 596/2014 of April 16, 2014 on market abuse, Articles 241-1 et seq of the General Regulation of the French Financial Markets Authority and Articles L.225-209 et seq of the French Commercial Code, the present document describes the objectives and modalities of ESI Group’s share buyback program, as authorized by the Combined General Meeting held on
June 28, 2022 and implemented by the Board of Directors during its meeting held on the same day.

This new program terminates the previous one authorized by the Combined General Meeting of June 22, 2021.

Shares concerned

Shares issued by ESI Group, listed on Euronext Paris (ISIN code FR0004110310).

Objectives of the buyback program

  1. stimulate the secondary market or the liquidity of ESI Group shares through a liquidity contract signed with an investment service provider and compliant with the AMAFI’s Code of Ethics dated February 15, 2019 and approved by the French Financial Markets Authority (AMF),
  2. fulfill its share issue obligations, in accordance with the terms and conditions set forth by law, undertaken as part of the following:
  • plans granting stock options for the purchase of existing shares by the Group’s employees or corporate officers,
  • employee profit-sharing plans under which these shares would be granted to employees and/or corporate officers,
  • free share grants to the Group’s employees and corporate officers,
  • shares provided upon exercise of the rights attached to securities giving access to shares by any means, whether immediately or in the future, under the conditions set forth by the AMF and at any time deemed appropriate by the Board of Directors,

    3. retain shares to subsequently use them in exchange or as payment for future business acquisitions,

    4.cancel shares by a reduction in share capital.

  • Maximum purchase price

The maximum purchase price is set at €110 per share.

The maximum amount that the company may spend within the framework of this buyback program is set at €29,000,000. This authorization shall render ineffective the previous authorization granted by the twenty-first resolution of the Combined General Meeting of June 22, 2021 authorizing the Board to trade on its own shares

  • Buy-back terms and conditions

The shares may be purchased or retained at the discretion of the Board of Directors by any means by trading on or off the market, or on an over-the-counter market, on one or more occasions. All shares purchased under the authorized share buyback program may be acquired in the form of blocks of shares. Such transactions may be carried out at any time, including during public offering periods, in accordance with the regulations in force;

  • Duration of the buy-back program

18 months from 28 June 2022 until 27 December 2023.The Board of Directors shall inform shareholders of any purchases or sales carried out pursuant to this authorization in its management report.

Treasury shares held as of June 28, 2022

As at June 28, 2022, the company held 340,158 shares representing 5.6% of its share capital.

The Group favors an allocation of shares to cover employee share ownership plans and potential acquisitions.

Maximum proportion of share capital

The Company may not, at any time, hold, either directly or via an intermediary, more than 10% of the total shares making up its own share capital.

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08/01/2024 17:35:00