LISI FINANCIALREPORT2013 I
103
INFORMATIONREGARDINGTHECOMPANYANDCORPORATEGOVERNANCE
7
1.1.3Authorizedsharecapitalnotyetissued
On April 25, 2013, the Shareholders’ ExtraordinaryMeeting authorized
the Board of Directors to issue, on one or more occasions, new cash
subscriptions, reserved for Group employeemembers of the company
occupational savingsplan, foramaximum total of€2,000,000 inclusive
of issuepremium,within26monthsofthecurrentMeeting.
1.1.4Potentialsharecapital
AtDecember31,2013, therearenowarrantsprovidingaccesstocapital.
1.1.5Dividenddistributionpolicyforthepastfiveyears–Dividend
prescriptionperiod
The distributable profit is at the disposal of the Shareholders’ General
Meeting,whichdetermines itsallocation.
Inthepast5years,dividendspaidoutpersharehavebeenas follows:
Net dividend in€
2009
0.70
2010
1.05
2011
1.30
2012
1.40
2013 (1)
1.70
(1) Subject to the decision of the Ordinary General Meeting of April 23, 2014. The date for
paymentofdividendshasbeensetatMay7,2014.
The timeframe forpayingdividends is9monthsasof theyear-enddate.
Unclaimed dividends arewaived to the State after a period of 5 years
beginningofthepaymentdate.
1.2
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STOCKREPURCHASEPROGRAM
1.2.1InplaceatDecember31,2013
OnApril 25, 2013, the Shareholder’s CombinedMeeting authorized the
company to repurchaseup to 10%of itsown shares in theopenmarket
foraperiodof18months, i.e.upuntilOctober26,2014.
Thus, LISI S.A. plans to launch a stock repurchase program for the
followingpurposes, indecreasingorderof importance:
n
to increase the activity of the stock on themarket by an Investment
Services Provider via a liquidity contract in accordance with the
professional code of ethics recognizedby theAMF (the French stock
marketauthority);
n
to grant stock options or free shares to employees and corporate
officersofthecompanyand/or itsconsolidatedgroup;
n
tokeepandusesharesasconsiderationorpaymentforpotentialfuture
externalgrowthtransactions;
n
tocancelpurchasedshares,subjecttotheapprovaloftheShareholders’
ExtraordinaryMeetingtobecalledata laterdate.
The followingtermsapplytothisauthorization:
n
the companymaynot repurchase itsown shares formore than€100,
not includingtransaction fees.
Thehighest figure that LISI S.A. wouldpay if it purchased shares at the
ceilingpricesetbytheShareholders’Meeting, i.e.€100, is€76,366,900.
Under theabove-mentioned share repurchaseprogram, in2013LISI S.A.
acquired77,352treasuryshares, i.e.0.7%.Thenumberofownsharesheld
byLISIS.A. standsat304,314.
The transactions carried out by the Company on its own shares are
summarized inthetablebelow:
Number
of shares
Average
weighted
price in€
Sharesheldat01/01/2013
314,980
37.95
Sharesacquired in2013
77,352
78.73
Sharesawarded in2013
Sharesdisposedof in2013
(88,018)
79.07
Sharesheldat12/31/2013
304,314
Ofwhich sharesallocatedtoremuneration
in shares
302,439
Ofwhichavailable
1,875
Shares have been purchased and soldwithin the scope of themarket-
making contract with Oddo Corporate Finance. The market-making
contractcomplieswiththeethicalcharteroftheAFEI.
1.2.2Newstockrepurchaseprogram
The next Shareholders' General Meeting will be offered to renew its
program to repurchaseLISIS.A. shares, inaccordancewith thenew rules
applicable since the entry into force of European Rules Nr.2273/2003
of December 22, 2003. LISI S.A. offers to acquire a number of shares
representingup to 10%of thenumberof shares thatmakeup itscapital
stock, except for the acquisition of shares meant to be kept and the
deliveryof sharesagainstoraspayment forexternal growthoperations,
if applicable,whose total numberwill be limited to5%of theequity, i.e.
539,324shares.
Thedurationofthestockrepurchaseprogram issetat18months.
