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Information about the Company
| Corporate Governance | Reports
Share Capital
2.2.4.
Shares Held by the Company
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2.2.4.1.
Summary of the Previous Share
Repurchase Program
By a resolution of the Management Board at its meeting held on
October 21, 2013, a share repurchase program was implemented on that
same date, under the authorization given pursuant to the 11
th
resolution
of the Ordinary Shareholders’ Meeting held on April 30, 2013.
The maximum authorized repurchase price was within the statutory
limitations, at a maximum price of €25 per share, which is below the
upper limit of €30 set by the Shareholders’ Meeting.
The objectives of this repurchase program were as follows:
p
p
the continuation of the liquidity agreement in compliance with the
AMAFI Code of Ethics; and
p
p
the repurchase of a maximum of 1.8 million shares on the market
with a view to covering the grant of performance shares, the rights
to which were to be acquired by the beneficiaries in 2014, subject to
satisfaction of the performance conditions under the plans.
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2.2.4.4.
Aggregate Number of Purchases and Sales/Transfers of Shares from January 1 to December 31, 2014
(other than Shares Purchased under the Liquidity Agreement)
Purchases
Sale/Transfer
Number of shares
1,602,149
1,603,220
Average price per share (in euros)
20.04
19.90
Total value (in euros)
32,103,809.96
31,909,025.57
Number of shares canceled during the last 24 months: None.
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2.2.4.2.
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)
na
17.48
Total value (in euros)
na
24,647,974.21
na: not applicable
Number of shares canceled during the last 24 months: None.
As of December 31, 2013, Vivendi directly held 50,639 of these treasury
shares with a par value of €5.50 per share, i.e., 0.004% of the share
capital, allocated to covering the award of performance share plans.
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2.2.4.3.
Current Share Repurchase Program
By a resolution of the Management Board at its meeting held on
October 20, 2014, a share repurchase program was implemented on that
same date, under the authorization given pursuant to the 12
th
resolution
of the Combined General Shareholders’ Meeting held on June 24, 2014.
The maximum repurchase percentage is authorized, within the statutory
limitations, at a maximum price of €20 per share, which is below the
upper limit of €24 set by the Shareholders’ Meeting, with a view to
covering performance share plans.
The objectives of the share repurchase program are as follows:
p
p
the continuation of the liquidity agreement in compliance with the
AMAFI Code of Ethics; and
p
p
the repurchase of a maximum of 2.7 million shares on the market
with a view to covering the grant of performance shares, the rights
to which shall be acquired by the beneficiaries in 2015, subject to
satisfaction of the performance conditions under the plans. As
of December 31, 2014, Vivendi had not implemented this second
objective.
In accordance with an announcement made by the Company, the
Supervisory Board, at its meeting held on February 27, 2015, authorized
the Management Board to implement a share repurchase program to
cover repurchases by the Company of up to 10% of its share capital, at a
maximum share repurchase price of €20 per share. As of the date of this
Annual Report, this authorization had not been implemented.
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Annual Report 2014