Connect - Schneider Electric
Connect - Schneider Electric
Connect - Schneider Electric
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GENERAL PRESENTATION OF SCHNEIDER ELECTRIC SA<br />
7 CAPITAL<br />
Authorisations to issue shares<br />
The following authorisations were given to the Management Board<br />
at the combined Annual and Extraordinary Shareholders’ Meetings<br />
of April 21, 2011:<br />
1) to increase the Company’s capital by capitalising reserves,<br />
earnings or additional paid-in-capital;<br />
2) to increase the share capital by a maximum of EUR800 million<br />
(200 million shares) by issuing shares or share equivalents:<br />
• in the case of an issue with pre-emptive subscription rights, the<br />
ceiling stands at EUR800 million (200 million shares);<br />
• in the case of an issue without pre-emptive subscription rights,<br />
the ceiling stands at EUR217 million (54.25 million shares) with<br />
the possibility of:<br />
(i) proceeding to issue by private placements of shares subject to<br />
a ceiling of EUR108 million (27 million shares),<br />
(ii) by issuing securities tendered to the Company within the<br />
framework of a public exchange offer initiated by the Company<br />
or, in the limit of 10% of capital, in payment for shares or share<br />
equivalents of unlisted companies.<br />
The Management Board is also authorised to increase the<br />
number of shares or share equivalents to be issued in case of<br />
oversubscription (subject to the overall limits defi ned above);<br />
244 2011 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC<br />
3) to grant existing or new <strong>Schneider</strong> <strong>Electric</strong> SA shares to<br />
employees and corporate offi cers of the Company and its<br />
affi liates under the provisions of article L.225-197-1 et seq.<br />
of the French Commercial Code, within a limit of 1.3% of the<br />
Company’s issued capital as of April 21, 2011;<br />
4) to grant options to purchase new or existing shares to employees<br />
and corporate offi cers of the Company and its affi liates under the<br />
provisions of articles L.225-177 and L.225-180 of the French<br />
Commercial Code, within a limit of 1% of the issued capital as of<br />
April 21, 2011;<br />
5) to issue new shares to members of the Employee Stock<br />
Purchase Plan (ESPP), within a limit of 2% of the issued capital<br />
on the date of the implementation of the authorisation;<br />
6) to issue new shares under programs to promote stock<br />
ownership among employees in non-French companies of the<br />
Group, within a limit of 1% of the Company’s share capital as of<br />
April 21, 2011 to be applied to the ceiling for the authorisation<br />
given in 5 above.<br />
At its meeting on December 15, 2011, the Supervisory Board<br />
authorised the Management Board to issue new shares to<br />
employees during 2012, within a limit of 0.9% of the Company’s<br />
issued capital. The Management Board intends to use this<br />
authorisation in June 2012 to issue new shares to employees under<br />
a non-leveraged and leveraged stock ownership plan.