Paris, Tuesday 26 June 2007 – At the Board meeting on 20 June 2007, chaired by Jean-François Cirelli, the Directors of Gaz de France agreed to put in place a bonus share scheme: “Actions + 2007”.
As Jean-François Cirelli, the Chairman and Chief Executive Officer of Gaz de France, explains: “For the first time, a bonus share allocation scheme is being created within the Group for all members of staff at Gaz de France and its international subsidiaries. This sends a strong signal as Gaz de France will be one of the very first industrial groups to implement a scheme of this size in order to continue developing its large, strong and active employee shareholding base”.
Gaz de France wants to allow each one of its employees to participate in the Group's collective success in 2006 – a record year for earnings – and its future performance.
Irrespective of their rank or nationality, all staff at Gaz de France and its majority owned subsidiaries in France and internationally will thus be awarded 30 free shares, subject to various presence and performance-related conditions. These measures have been adapted for employees of the entity common to both Gaz de France and EDF.
This “Actions + 2007” scheme represents 0.16 per cent of Gaz de France's capital, with employee shareholders currently owning 2.3 per cent. It provides for the immediate allocation of rights, with the actual shares to be awarded in June 2009. The shares will need to be held for a minimum of two years, up until 30 June 2011.
The conditions for the distribution of bonus shares are defined in the agreement signed on 7 June by Jean-François Cirelli and the CFDT and CFTC unions.
Group profile:
The Gaz de France group is a major player in the European energy market. Ranked first for the distribution of natural gas in Europe, Gaz de France employs close to 50,000 people and, in 2006, generated sales of €27.6 billion. The group boasts a portfolio of around 13.9 million customers, 11.1 million of whom are based in France. Listed on the Paris Bourse in July 2005, Gaz de France entered the CAC40 and the Dow Jones Stoxx 600 indexes in September 2005.
Press contact:
Jérôme Chambin
Tel: +33 1 47 54 24 35
Email: jerome.chambin@gazdefrance.com
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