Amundi: Launch of the capital increase reserved for employees
Amundi launches a capital increase reserved for employees (under the name We Share Amundi). This capital increase was initially decided on 6 February 2024 under the terms specified below.
This offer reflects Amundi’s desire to involve employees not only in the Company’s development but also in the creation of economic value. This will strengthen the employees’ sense of belonging.
The discount offered to employees will be 30%, as for the five previous capital increase reserved for employees.
Eligible employees can subscribe to the offering between 23 September and 4 October 2024 included. The capital increase is scheduled for 31 October 2024 and the newly issued Amundi shares will be listed on Euronext Paris on 4 November 2024.
As a reminder, employees currently own 1.41 % of Amundi’s share capital.
The impact of this offering on the net earnings per share should be negligible. The maximum number of Amundi shares to be issued will be capped at 1,000,000 shares (i.e. less than 0.5% of the Company’s share capital and voting rights).
Terms of the capital increase
Issuer
Amundi, a French limited company (société anonyme) with share capital of €511.619.085 and with its offices located at 91-93, Boulevard Pasteur, 75015 Paris, France, registered with the Paris Trade and Companies Registry under number 314 222 902 (the “Company”).
Securities offered
The offering is a capital increase in cash reserved for employees, employees who have taken early retirement and retired employees of Amundi Group companies that are members of the UES Amundi Company Savings Plan (“PEE”) or Amundi’s International Group Savings Plan (“PEGI”). The capital increase will be carried out pursuant to Resolution 24 of the Annual General Meeting of 12 May 2023, without preferential shareholder subscription rights.
The capital increase will be capped at 1,000,000 shares with a par value of €2.50 per share. The newly issued shares will be fully assimilated to existing ordinary shares.
Amundi will request that the newly issued shares under the offering be admitted for trading on Euronext Paris as soon as possible after the capital increase is completed, currently scheduled for 31 October 2024. These shares will be listed on the same line as the existing shares, under ISIN code FR0004125920.
Terms of the 2024 offering
We Share Amundi is being made available to employees in France and Amundi Group entities in the following countries: Austria, Czech Republic, Germany, Hong Kong, Ireland, Italy, Japan, Luxembourg, Malaysia, Singapore, Spain, Taiwan, United Kingdom and United States.
Employees of companies that are members of the PEE or PEGI, with at least three months of employment, whether consecutive or not, between 1 January 2023 and the last day of the subscription period, as well as retired employees in France that have kept assets in the PEE, are eligible to the 2023 offering.
The subscription price is set at 47.00 euros. This subscription price is the average of the share opening price over the 20 trading days between 23 August and 19 September 2024 (included), minus a 30% discount.
Eligible employees can subscribe to the offering between 23 September 2024 and 4 October 2024 included. Shares can be subscribed to via the FCPE (Employment Shareholding Fund) AMUNDI ACTIONNARIAT RELAIS 2024 or FCPE AMUNDI SHARES RELAIS 2024, with the exception of certain countries where shares will be subscribed to directly. Once the capital increase is completed, and following decisions by the funds’ Supervisory Boards and the approval of the French Autorité des Marchés Financiers (AMF), the FCPE AMUNDI ACTIONNARIAT RELAIS 2024 will be merged into the FCPE AMUNDI ACTIONNARIAT, and the FCPE AMUNDI SHARES RELAIS 2024 will be merged into the FCPE AMUNDI SHARES.
The voting rights attached to the shares held via the Funds will be exercised by the Fund’s Supervisory Board. The voting rights attached to the directly-held shares will be exercised by the subscribers.
The shares subscribed to under We Share Amundi will be subject to a five-year lock-up period, unless an early-exit event occurs as described in the PEE or PEGI plan rules. Early-exit events will be adjusted where applicable for certain countries.
An employee can invest up to a maximum of €40,000. This cap is assessed on all the employee shareholding operations of the Crédit Agricole group in which Amundi employees could participate in 2024. Employees may finance their subscription by making voluntary contributions to the plans, up to the annual cap on investments in employee savings plans which is set at 25% of their gross annual compensation. Members of the UES Amundi PEE are also entitled to use their assets held in another specific fund of the PEE.
Should subscription requests exceed the maximum number of shares available under the offering, the smallest subscriptions will be fully honoured while the highest subscriptions will be subject to successive caps until all available shares are subscribed. In France, any cap on subscriptions will first be applied to portions of subscriptions financed by voluntary contributions, then on the subscriptions financed by the transfer of available assets held in another specific fund of the PEE, and finally on the subscriptions financed by the transfer of unavailable assets held in another specific fund of the PEE.
Disclaimer
This press release is for information only and is not a solicitation to subscribe to Amundi shares.
We Share Amundi is strictly reserved to the eligible employees mentioned in this release and shall only be available in countries where such an offer has been registered with the competent local authorities, or the latter has been notified thereof, and/or following the approval of a prospectus by the competent local authorities, or if an exemption has been granted from the obligation to publish a prospectus or to register the offering with the authorities, or to notify the latter thereof.
More generally, We Share Amundi will only be available in countries where all required registration and/or notification procedures have been completed and the necessary authorizations obtained.
Contact
For any questions about We Share Amundi, eligible employees may contact their Head of Human Resources or visit the following website: www.weshare.amundi.com
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About Amundi
Amundi, the leading European asset manager, ranking among the top 10 global players1, offers its 100 million clients - retail, institutional and corporate - a complete range of savings and investment solutions in active and passive management, in traditional or real assets. This offering is enhanced with IT tools and services to cover the entire savings value chain. A subsidiary of the Crédit Agricole group and listed on the stock exchange, Amundi currently manages more than €2.15 trillion of assets2.
With its six international investment hubs3, financial and extra-financial research capabilities and long-standing commitment to responsible investment, Amundi is a key player in the asset management landscape.
Amundi clients benefit from the expertise and advice of 5,500 employees in 35 countries.
Amundi, a trusted partner, working every day in the interest of its clients and society
Press contacts:
Natacha Andermahr
Tel. +33 1 76 37 86 05
natacha.andermahr@amundi.com
Corentin Henry
Tel. +33 1 76 36 26 96
corentin.henry@amundi.com
Investor contacts:
Cyril Meilland, CFA
Tel. +33 1 76 32 62 67
cyril.meilland@amundi.com
Thomas Lapeyre
Tel. +33 1 76 33 70 54
thomas.lapeyre@amundi.com
Annabelle Wiriath
Tel. + 33 1 76 32 43 92
1 Source: IPE “Top 500 Asset Managers” published in June 2023, based on assets under management as at 31/12/2022
2 Amundi data as at 31/12/2023
3 Boston, Dublin, London, Milan, Paris and Tokyo
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