InformationregardingtheCompanyandcorporategovernance
1
7
LISI 2014FINANCIALREPORT
I
111
1.1.3Sharecapitalauthorizedbutnotissued
None.
1.1.4Potentialcapitalsecurities
AtDecember31,2014, 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€
2010
1.05
2011
1.30
2012
1.40
2013
1.70
2014
(1)
0.37
(1)Subject to the decision of the Ordinary General Meeting of April 22, 2015. The dividend
paymentdatewassetatMay7,2015.Unitvalueofthedividend followingthe1:5stocksplit.
The timeframe forpayingdividends is9monthsasof theyear-enddate.
Unclaimed dividends arewaived to the State after a period of 5 years
beginningofthepaymentdate.
1.2
|
Sharerepurchaseprogram
1.2.1InplaceatDecember31,2014
OnApril 25, 2014, the Combined Shareholder’sMeeting authorized the
company to repurchaseup to 10%of itsown shares in theopenmarket
foraperiodof18months, i.e.upuntilOctober26,2015.
Thus, LISI S.A. plans to launch a stock repurchase program for the
followingpurposes, indecreasingorderof importance:
■■
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 recognized by the AMF (the French stock
marketauthority);
■■
to grant stock options or free shares to employees and corporate
officersofthecompanyand/or itsconsolidatedgroup;
■■
tokeepandusesharesasconsiderationorpaymentforpotential future
externalgrowthtransactions;
■■
tocancelpurchasedshares,subjecttotheapprovaloftheShareholders’
ExtraordinaryMeetingtobecalledata laterdate.
The followingtermsapplytothisauthorization:
■■
Thecompanymaynotrepurchase itsownsharesformorethan€40,not
includingtransaction fees.
Thehighest figure that LISI S.A. wouldpay if it purchased shares at the
ceilingpricesetbytheShareholders’Meeting, i.e.€40, is€158,402,360.
Under theabove-mentionedshare repurchaseprogram, in2014LISIS.A.
acquired 252,798 treasury shares, i.e. 0.5%. The number of own shares
heldbyLISIS.A. standsat1,442,328.
The transactions carried out by the Company on its own shares are
summarized inthetablebelow:
Number
of shares
Average
weighted
price in€
Sharesheldat01/01/2014
1,521,570
7.54
Sharesacquired in2014
252,798
22.89
Sharesawarded in2014
(123,765)
7.46
Sharesdisposedof in2014
(208,275)
22.54
Sharesheldat12/31/2014
1,442,328
7.94
Ofwhich sharesallocatedtoremuneration
in shares
1,388,430
Ofwhichavailable
53,898
Shares have been purchased and soldwithin the scope of themarket-
making contract with Oddo Corporate Finance. The market-making
contractcomplieswiththeethicalcharteroftheAFEI.
1.2.2Newsharerepurchaseprogram
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.
2,701,193shares.
