Saint-Gobain Announces Share Capital Increase Reserved for Employee Savings Plan Members

Compagnie de Saint-Gobain has announced its decision to increase its share capital through the issuance of up to 6,500,000 new shares, each valued at €4. This move is specifically designed to cater to members of the Saint-Gobain Group employee savings plan. This decision follows the authorization from the Combined General Shareholders’ Meeting dated June 8, 2023. The offering will be accessible by Group employees across multiple countries, contingent upon obtaining necessary local authorizations.

The shares will be offered through a "classic" formula, directly exposing subscribers to the share price fluctuations with potential employer matching contributions. A notable aspect of this issuance is the substantial 20% discount on the subscription price relative to the reference price, which has been set at €55.30, from the original €69.1225. Through this effort, Saint-Gobain aims to deepen its employees' sense of belonging and further align them with the Group's future growth and performance roadmap.

Eligibility for subscription is broad, extending to current and some former employees, with the express intent of involving a wider employee base in the Group's equity. Notably, this capital increase omits any preferential subscription right for existing shareholders. The offerings are set to be locked in for a five or ten-year period, depending on the subscriber's choice, subject to specific exceptions outlined in the French Labor Code.

The subscription period is scheduled from March 11 to March 25, 2024, with the completion of the capital increase expected by May 15, 2024. Following this, the new shares will be requested for admission to trading on the Euronext Paris regulated market. This step is part of Saint-Gobain's continuous effort to foster employee share ownership, marking the 37th consecutive annual initiative of its kind.