109
Annual Report -
2013
-
Vivendi
Information About The Company
| Corporate Governance | Reports
3
Share Capital
2.2.4.
Shares Held by the Company
■
■
2.2.4.1. Summary of the Previous Share
Repurchase Program
By resolution of the Management Board at its meeting of October 22,
2012, a stock repurchase program was implemented on that same date,
under the authorization given pursuant to the ninth resolution of the
Ordinary Shareholders’ Meeting of April 19, 2012.
The maximum authorized repurchase amount is 10% of the share
capital, at a maximum price of €22 per share, which is below the upper
limit of €25 set by the Shareholders’ Meeting.
Upon implementation, this program had the following objectives:
the continuation of the liquidity agreement with a view to ensuring
momentum in the market for Vivendi shares, through the efforts of
an investment services provider acting through a liquidity agreement
consistent with the AMAFI Code of Ethics recognized by the
Autorité
des marchés financiers
(AMF); and
the repurchase by the Company of 1,112,000 shares on the market
to cover the award of performance shares for which the end of the
acquisition period occurred in 2013.
■
■
2.2.4.2. Aggregate Number of Purchases and Sales/Transfers of Shares from January 1
to December 31, 2012 (Other than Shares Purchased under the Liquidity Agreement)
Purchases
Sale/Transfer
Number of shares
1,112,094
980,612
Average price per share (in euros)
16.01
21.07
Total value (in euros)
17,803,600.00
20,658,340.79
Number of shares canceled during the last 24 months: None.
■
■
2.2.4.3. Share Repurchase Program
By resolution of the Management Board at its meeting
on October 21, 2013, a share repurchase program was implemented on
that same date, under the authorization given pursuant to the eleventh
resolution of the Combined Shareholders’ Meeting of April 30, 2013.
The maximum repurchase percentage is authorized, within the statutory
limits, at a maximum price of €25 per share, which is below the upper
limit of €30 set by the Shareholders’ Meeting.
The objectives of the current share repurchase program are:
the continuation of the current liquidity agreement under terms that
comply with the AMAFI Code of Ethics; and
the repurchase of 1.8 million shares on the market to cover the
award of performance shares whose rights will be acquired by
beneficiaries in 2014, subject to satisfaction of the performance
conditions attached to the plans.
■
■
2.2.4.4. Aggregate Number of Purchases and Sales/Transfers of Shares from January 1
to December 31, 2013 (other than Shares Purchased under the Liquidity Agreement)
Purchases
Sale/Transfer
Number of shares
None
1,409,861
Average price per share (in euros)
n/a
17.48
Total value (in euros)
n/a
24,647,974.21
n/a: not applicable.
Number of shares canceled during the last 24 months: None.
■
■
2.2.4.5. Treasury Shares (Other than Shares Held
Pursuant to the Liquidity Agreement)
Position as of December 31, 2013
As of December 31, 2013, Vivendi directly held 50,639 of its own shares,
which have a par value of €5.50 each, representing 0.004% of the share
capital. These shares were allocated to cover the award of performance
shares. As of December 31, 2013, the book value of the portfolio
totaled €0.8 million, representing a market value of €1.0 million
as of the same date.
