2007 Interactive Registration Document - Renault

8.3.3.2 USE AND/OR COMMUNICATION
OF INSIDE INFORMATION
Any and all directors, senior executives, corporate offi cers and employees of
Renault and the companies of its Group who hold inside information, whether
permanently or from time to time (hereinafter referred to as “insiders”)
must, whatever their level of responsibility, refrain from undertaking market
transactions in Renault and/or Nissan shares, whether directly or via a third
party, until such time as said information is made public.
Directors, senior executives, corporate offi cers or employees of Renault whose
position or offi ce makes them liable to permanently hold inside information
must not, as a general rule, undertake transactions in Renault and/or Nissan
shares, including shares in FCPE Actions Renault (the company investment fund
invested in Renault shares) during the following periods:
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from January 1 to the announcement of Renault’s annual results and Nissan’s
quarterly results (i.e. approximately the beginning of February);
from April 1 to the announcement of Nissan’s annual results (i.e. approximately
mid-May);
from July 1 until the announcement of Renault’s half-yearly results and
Nissan’s quarterly results (i.e. approximately the end of July);
from October 1 until the announcement of Nissan’s quarterly results
(i.e. approximately mid-November).
Furthermore, insiders must not disclose any inside information within Renault or
outside Renault other than in the normal course of their duties, i.e. for purposes
or activities other than those for which the information is held, and must take
appropriate steps to this end.
Generally, insiders must act with the greatest care. Because they hold such
information, they must refrain from undertaking any transaction in Renault
and/or Nissan shares, even where the transaction was planned before they
become aware of the information in question.
ADDITIONAL INFORMATION 08
INTERNAL REGULATIONS OF THE BOARD OF DIRECTORS
8.3.3.3 APPLYING THE PROCEDURE
TO THE ALLOCATION OF
STOCK OPTIONS
Without prejudice to the above, the Board of Directors undertakes not to grant
stock options:
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within a period of ten stock exchange trading sessions prior to and following
the date on which the consolidated accounts, or in their absence the parentcompany
accounts, are made public;
within the period beginning on the date on which the corporate decisionmaking
bodies become aware of information concerning Renault and/or
Nissan that could have a signifi cant effect on the stock market price of
Renault shares were it to be made public, and the date following ten stock
exchange trading sessions after the date on which said information was
made public.
The importance of this procedure to the company is obvious. To ensure that it
is properly understood and enforced, on July 26, 2001 the Board appointed
a compliance offi cer, who must be consulted on any question concerning the
interpretation and application of the procedure.
✦ Global Reporting Initiative (GRI) Directives Registration Document Renault 2007 263
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