SUEZ launches SHARING 2019, its fourth worldwide shareholding plan reserved for Group’s employees

SUEZ offers its employees in France and around the world a chance to subscribe to SHARING, its fourth shareholding plan since 2011, reserved for employees.

SHARING 2019 is aimed at the Group’s to some 86,000 employees in 25 countries: Australia, Belgium, Brazil, Canada, Chile, China, Colombia, the Czech Republic, France, Germany, Hong Kong, Hungary, India, Italy, Jordan, Luxembourg, Macao, Mexico, Morocco, the Netherlands, Poland, Spain, Sweden, the United Kingdom and the United States.

This fourth share subscription offer forms part of the Group’s policy to increase employee shareholding. It strengthens the relationship between SUEZ and its employees by offering them the possibility of being more closely involved in the Group’s growth and performance.

“Through SHARING 2019, with the Board of Directors, we wish to continue to associate the employees to the Group’s performance and with the ambitious project that we have set ourselves for 2030: to be the world leader in environmental services, making us the preferred choice of our customers, stakeholders, and employees, working together to restore and preserve the fundamental elements of the environment: water, air and soil”, comments Bertrand Camus, Chief Executive Officer of SUEZ.

SHARING 2019 options
As part of SHARING 2019, SUEZ offers its employees two options:

  • A “Classic” plan, which includes a discount and employer contribution in which the subscriber is exposed to movements in the share price. In France, employees will benefit from an employer contribution as part of the company savings plan. Outside France, the employer’s contribution takes the form of a free share allocation. The UK plan is different, in the form of a Share Incentive Plan (SIP);
  • A “Multiple” plan under which the subscriber receives, at maturity, at least the amount of his/her personal contribution to which is added a guaranteed return or a multiple of the performance of SUEZ shares, whichever is higher. In Australia, the United States, Canada, Chile, China, Italy, Poland and Sweden, the Multiple plan has been adapted to local laws and implemented as an alternative mechanism, called “share appreciation rights”.

The shares will be subscribed by the beneficiaries either directly, or via an employee shareholding fund (FCPE) depending on the country of residence. In the Classic plan (excluding the SIP), the subscription price will be 80 per cent of the average opening price of SUEZ shares on the Euronext Paris market during the 20 trading days preceding the date the subscription price is set by the Board of Directors or by the Chief Executive Officer delegated to do so, while in the Multiple plan, the subscription price will be 90 per cent of the average opening price of SUEZ shares on the Euronext Paris market during the 20 trading days preceding the date the subscription price is set by the Board of Directors or by the Chief Executive Officer delegated to do so.

Securities offered
The maximum amount of shares subscribed under Resolution 19 and Resolution 20 submitted for voting to the General Meeting of 14 May 2019 is set at 10 million shares, on the understanding that a ceiling of two million shares applies to the Classic plan (including the SIP) and a ceiling of eight million shares applies to the Multiple plan. In the event the ceiling of one of the plans (either the Classic plan or the Multiple Plan) is not fully subscribed, the remaining amount will be allocated to the other plan in case the latter is oversubscribed. Under each plan, all subscriptions are honoured up to the amount of the average subscription to the plan concerned. Subscriptions above this average will be allocated proportionately.

The resulting shares will confer current entitlement (for shares allocated as employer’s contributions internationally, on 1 January preceding the year in which they are delivered).

Subscription conditions
The beneficiaries of this shareholder offering are the employees of the Company and of member companies of the SUEZ Group International Savings Plan whose head offices are in one of the 25 countries listed above.

This includes employees, corporate officers meeting the terms and conditions of Article L.3332-2 of the French Labour Code, provided they have been in service for at least three months on the final day of the subscription period, which is 17 December 2019 (excluding SIP) as well as retirees who have kept their holding in the SUEZ Group Savings Plan.

The legal individual investment limit is 25 per cent of gross annual pay for the Classic plan and 2.5 per cent for the Multiple plan (excluding bank contributions). Subscribers to the offering must hold the shares they subscribed directly, or their employee shareholding fund units, until 16 January 2025 (excluded), unless released early.

Unitholders of employee shareholding funds will exercise their voting rights at General Meetings of SUEZ through the supervisory board of the funds.