Sopra Steria - 2019 Convening notice
SUMMARY OF RESOLUTIONS
Explanation of resolutions
1.1.5. APPROVAL OF THE PRINCIPLES AND CRITERIA FOR THE DETERMINATION, DISTRIBUTION AND ALLOCATION OF ITEMS OF COMPENSATION FOR EXECUTIVE COMPANY OFFICERS (RESOLUTIONS 8 AND 9) As required by Article L. 225-37-2 of the French Commercial Code, we submit for your approval the principles and guidelines used to determine, structure and grant the fixed and variable components of total compensation and benefits of any kind to be received by the Chairman of the Board of Directors and the Chief Executive Officer respectively, as well as by any Deputy Chief Executive Officers who might be appointed, for their service in these positions. These principles and guidelines, which were decided by the Board of Directors on the recommendation of the Compensation Committee, are set out in Section 1.5, “Principles and guidelines used to determine the compensation of executive company officers” (pages 43 to 49), of this document. Moreover, the amounts resulting from the application of these principles and criteria will also be submitted to the shareholders for approval at the General Meeting convened to approve the financial statements for the financial year ending 31 December 2019, to be held in 2020. 1.1.7. BUYBACK BY SOPRA STERIA GROUP OF ITS OWN SHARES (RESOLUTION 11) You are asked to renew the authorisation granted to the Board of Directors at the General Meeting of 12 June 2018 permitting the Company to buy back its own shares, in accordance with applicable laws and regulations (Articles L. 225-209 et seq. of the French Commercial Code). Under this authorisation, the number of shares bought back shall not exceed 10% of the share capital; as an indication, this would equate to 2,054,770 shares on the basis of the current share capital. The maximum price per share that can be paid for the shares bought back is set at €200; this price may be adjusted as a result of an increase or decrease in the number of shares representing the share capital, in particular due to capitalisation of reserves, free share awards or reverse stock splits. Shares may be bought back for the following purposes: p to obtain market-making services from an investment services provider acting independently under the terms of a liquidity agreement entered into in compliance with the AMF’s accepted market practice; p to award, sell or transfer shares in the Company to employees and/ or company officers of the Group, in order to cover share purchase plans and/or free share plans (or equivalent plans) as well as any allotments of shares under a company or Group savings plan (or equivalent plan) in connection with a profit-sharing mechanism, and/or all other forms of share allotment to the Group’s employees and/or company officers; p to retain the shares bought back in order to exchange them or tender them as consideration at a later date for a merger, spin-off or contribution of assets and, more generally, for external growth transactions. Shares bought back for such purposes are not to exceed, in any event, 5% of the number of shares making up the Company’s share capital; 1.1.6. DETERMINATION OF DIRECTORS’ FEES (RESOLUTION 10) It is proposed that the amount of directors’ fees for the current financial year be set at €500,000. This amount, unchanged since 2015, is allotted in full to the members of the Board of Directors (both voting and non-voting Directors) on the basis of their actual attendance at meetings of the Board and its committees.
p to deliver the shares bought back, upon the exercise of rights attaching to securities giving access to the Company’s share capital through redemption, conversion, exchange, tender of warrants or any other means as well as to execute any transaction covering the Company’s obligations relating to those securities; p to retire shares bought back by reducing the share capital, pursuant to Resolution 12 approved at the Combined General Meeting of 12 June 2018; p to implement any market practice that may come to be accepted by the AMF, and in general, to perform any operation that complies with regulations in force. This authorisation would supersede the previous authorisation given at the General Meeting of 12 June 2018 and would be granted for a period of 18 months with effect from this General Meeting. It would not be usable during a public tender offer for the Company’s shares. For information, the use made of the previous authorisation is discussed in Chapter 6, Section 8 of the Sopra Steria 2018 Registration Document (pages 220 and 221). 1.2.1. FINANCIAL DELEGATIONS GRANTED TO THE BOARD OF DIRECTORS (RESOLUTIONS 12 AND 13) Section 12, “Authorisations to issue securities granted to the Board of Directors at the Combined General Meetings of 22 June 2016 and 12 June 2018” (pages 223 and 224), in Chapter 6 of this Registration Document, sets out all currently valid delegations and the extent to which they were used by the Board of Directors in financial year 2018. You are asked to renew the delegation of authority to issue share subscription warrants for grant freely in the event of a public offer ( bons d’offre , or warrant rights) and the delegation of authority to carry out a capital increase for employees enrolled in a company savings plan which is presented to you pursuant to Article L225-129-6 of the French Commercial Code. The delegation of authority for the issuance of warrants has been presented in a draft resolution at the General Meeting of the shareholders every year since the merger between Groupe Steria and Sopra Group. While it has not been supported by a section of the shareholders (approval rate of 64.36% in 2018), it is aligned with the priority focus on the long term and independence currently adopted by the Group. Its rationale is a desire to enable Executive Management, management and employees to focus on the measures still needed to achieve the medium-term targets that have been set and reflects confidence in the Group’s ability to achieve them by gradually improving its performance. 1.2. Extraordinary General Meeting
SOPRA STERIA CONVENING NOTICE 2019
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