Compagnies des Alpes // 2019 Universal Registration Document

6 SHARE CAPITAL AND SHAREHOLDING Share capital

6.1.2 TREASURY STOCK

At 30 September 2019, the Company owned 22,805 shares of treasury stock, with a book value of €561,990. 6.1.2.1 Share buyback From 1 October 2018 to 30 September 2019, there were two successive share buyback programmes under the authorisations granted by the Shareholders’ Meeting to allow the Company to buy back CDA shares, with total treasury stock limited to 10% of the share capital: l the programme already in place during the preceding fi scal year, implemented on 17 May 2018 by the Board of Directors on the basis of the authorisation given to it by the Shareholders’ Meeting of 8 March 2018; l a new share buyback programme, implemented by the Board on 16 May 2019, pursuant to the new authorisation given to it by the Shareholders’ Meeting of 7 March 2019. The latter authorisation was granted to the Board of Directors for a new period of 18 months. Pursuant to Articles 241-1 to 241-6 of the AMF general regulation and European regulation (EC) No. 596/2014 of 16 April 2014, supplemented with the Commission Delegated regulation (EU) 2016/1052 of 8 March 2016, this document outlines the goals and procedures of the programme, which are identical to those of the previous programme, namely: l ensuring the market-making on the secondary market or the liquidity of the Compagnie des Alpes share by an investment service provider under a liquidity contract, in compliance with an AMF-recognised Ethics Charter; l holding, selling or transferring the aforesaid shares by any means, especially through exchange or delivery of securities, particularly in the framework of acquisitions or the issuance of securities giving access to capital;

l attributing shares to employees and corporate o f ficers of the Company, or of companies or groups to which the Company is related, under the conditions and in accordance with the procedures provided for in law, especially through income from Company acquisitions, stock options, the award of free shares, a Group or company savings scheme or an optional plan for an employee- employer savings partnership. During the 2018/2019 fi scal year, the share buyback programme was used for the market-making of the share under the liquidity contract in force – see below. 6.1.2.2 Liquidity contract The liquidity contract was granted to Oddo & Cie on 4 October 2016. It can be renewed by tacit consent for successive one-year periods. This liquidity contract, compliant with the AMAFI Ethics Charter approved by the AMF with the decision dated 8 March 2011, is fully dedicated to the management of Compagnie des Alpes securities. During the 2018/2019 fi scal year, 141,540 shares were purchased and 132,108 shares were sold. 6.1.2.3 Share awards to employees In 2018/2019, the Company did not proceed with any share buybacks for free share awards to employees under performance plans. By decision of the Chairman and Chief Executive O ffi cer on 28 March 2019, the 6,170 treasury shares reported in the fi nancial statements for the fi scal year ended 30 September 2018 were added to the total number of shares to be awarded to employees under Plan no. 20, which expired at midnight on 27 March 2019, as stated in section 6.1.5.2.

6.1.2.4 Annual summary of buybacks The share buyback programme results, from 1 October 2018 to 30 September 2019, are illustrated below:

Position at 30 September 2019 Percentage of treasury stock, held directly or indirectly Number of shares cancelled over the last 24 months

Not signi fi cant

None

Number of shares in the portfolio (1)

22,805

Carrying amount of portfolio at 30 September 2019 (in thousands of euros) Portfolio market value at 30 September 2019 (in thousands of euros) (2) (1) Of which 22,805 shares allocated to the liquidity contract. (2) On the basis of a stock price of €25.60 per share at 30 September 2019.

562 584

Accumulated gross transactions at 30 September 2019

Purchases

Sales

Transfers

Number of shares

141,540

132,108

– – –

Average transaction price (in euros)

24.94 3,530

24.82 3,278

Amounts (in thousands of euros)

It must be noted that the Company did not use derivative instruments.

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Compagnie des Alpes I 2019 Universal registration document

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