RUBIS: Capital Increase Reserved For Group’S Employees

(MENAFN- GlobeNewsWire - Nasdaq) Paris, 13 February 2024 - 5:45 pm

The Management Board, at its meeting of 5 January 2024, decided to make use of the authorization granted by the Ordinary and Extraordinary Shareholders' Meeting of 8 June 2023, established under Articles L. 3332-18 et seq. of the French Labor Code, to perform a capital increase by issuing shares reserved for eligible employees of companies participating in the Rubis Avenir Company Savings Plan (companies based in France) under the conditions described below.

The maximum nominal amount authorized by the Ordinary and Extraordinary Shareholders' Meeting of 8 June 2023 in respect of capital increases reserved for employees, is €700,000 (560,000 shares).

The subscription price, set at €15.71, corresponds, in accordance with Article L. 3332-19 of the French Labor Code, to 70% of the average share price over the 20 trading days preceding the decision of the Board of Management.

The subscription period will run from 18 March to 5 April 2024.

The funds invested in Rubis shares through the“FCPE Rubis Avenir” mutual fund will be available at the end of a five-year lock-up period, except in cases where early release is allowed.

The new shares will carry dividend rights from 1 January 2024 and will be fungible with existing shares.

The Rubis Avenir mutual fund was set up in 2002 to allow employees to invest in Rubis' capital, and thereby to strengthen the link between employees and the company. Rubis has performed a capital increase reserved for employees each year since the fund's establishment.

As of 31 December 2023, employees of the Group held 1.74% of Rubis' share capital through the Rubis Avenir mutual fund.

RUBIS – Legal department
Tel: +(33) 1 44 17 95 95


  • RUBIS: Capital increase reserved for Group's employees


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.