Capgemini Launches New Employee Share Ownership Plan
Capgemini has unveiled a new employee share ownership plan (ESOP) that aims to include about 97 percent of its workforce. This move is part of the company’s strategy to involve employees in its growth and performance.
Under the new ESOP, Capgemini will increase its capital by issuing up to 2.7 million shares. This amount represents 1.56 percent of the company’s total shares. The new plan follows the end of the 2019 ESOP, which concludes at the end of this year. The goal is to keep employee ownership around eight percent of Capgemini SE’s total share capital.
In June 2024, Capgemini SE’s Board of Directors also approved a share buyback plan. This plan will be used over the next year to counteract any potential dilution from the new share issuance.
The new ESOP will follow a specific timeline. The reservation period for shares will run from September 12 to October 1, 2024. The subscription or revocation period will take place from November 12 to November 14, 2024. The price for the new shares will be set on November 7, 2024, and the capital increase will be completed by December 19, 2024.
Employees can participate in the plan through subscription formulas that are both leveraged and guaranteed. These formulas are designed to protect employees against potential losses, though the shares will remain non-tradable for now. Voting rights will be managed by the holders, which may include an FCPE (Fonds Commun de Placement d’Entreprise), the employees themselves, or the financial institution managing the offer.
Crédit Agricole Corporate and Investment Bank will handle the leveraged guaranteed offering. This will involve hedging transactions, which could include buying and selling shares or acquiring options. These transactions will occur both on and off the market from October 10 to November 6, 2024, and continue through the plan’s end date on December 19, 2029.
