Rexel launches a new employee share purchase plan in 16 countries
Rexel, a global leader in the distribution of electrical supplies, announces the launch of a new employee share purchase plan, named Opportunity12 (1) , through which its employees will have the opportunity to acquire shares in the company through a reserved capital increase under preferential conditions.
> Download the Press release (15 Rexel countries, except Austria)
> Download the Press release for Austria
This offering will be open to over 90 % of the Group’s employees, covering 16 countries. In most of the eligible countries, subscription will be through employee shareholding funds (“fonds communs de placement d’entreprise”, or “FCPE”) which received approval from the “Autorité des Marchés Financiers” (“AMF”) on July 17th, 2012. In 13 of these countries, employees will be able to subscribe online. The conditions of the offering are detailed below.
Eligible employees will be able to purchase shares at a price of € 12.14 (2) per share, corresponding to a subscription price equal to 80% of the average opening price of Rexel shares on the Euronext Paris stock exchange over the 20 trading days preceding September 3rd, 2012, the date on which Rexel’s Management Board decided to proceed with the offering. Employees can subscribe to Opportunity12 from September 10th until September 28th, 2012 (included).
This new employee share purchase plan is the third such plan launched by Rexel following offerings in 2007 and 2010. Through this new plan, Rexel wishes to continue its active employee shareholding policy, which enables Rexel employees to be more closely associated with the Group’s performance and increase their stake in its share capital.
Opportunity12 follows the unveiling of the company project that Rexel launched on May 29th, 2012. Named Energy in Motion, this company project places employees at the heart of the Group’s strategy, focusing in particular on two key areas: active management of resources and a culture of cooperation.
(1) A specific offering is reserved for participants in the United Kingdom, the terms and conditions of which are described below.
(2) Except in the United States (please refer to the key terms and conditions of the offering provided below).