2007 Annual report - Groupe M6

MANAGEMENT REPORT
Between the General Meetings of 24 April 2006 and 2 May 2007, the Company used the
authorisation to buy its own shares as follows:
- shares were purchased through the liquidity contract at an average price of € 25.13 and
sold at an average price of € 25.52;
- a total of 429,261 shares were purchased and 441,761 shares sold within the framework
of this share buyback plan.
Consequently, at 2 May 2007, which is the date of implementation of the new share buyback
plan, the Company held 297,502 treasury shares, being 0.22% of its share capital.
Liquidity contract (shares actually held by CA Chevreux)
Number of shares held Number of shares Number of shares sold Number of shares
under the liquidity purchased under the under the liquidity held under the
contract at 24 April liquidity contract from 25 contract from 25 April liquidity contract at
2006 April 2006 to 2 May 2007 2006 to 2 May 2007 2 May 2007
55,000 429,261 441,761 42,500
In addition, 71,000 shares were transferred to beneficiaries of stock option plans during
this period, for a total value of € 1.33 million.
12.6.2 Report on the current share buyback plan
The Combined General Meeting of 2 May 2007 decided in its ninth resolution to approve
a Company share buyback plan for a duration of 18 months, allowing the Management
Board to purchase Company shares, up to a maximum of 10% of the Company’s share
capital, in order to fulfil the following objectives:
- activate the Métropole Télévision share secondary market or the share liquidity through
a investment service provider, within the framework of a liquidity contract complying with
the AFEI Ethics Charter approved by the AMF;
- retain all or some of the purchased shares for future exchange or payment, within the
framework of potential operations of growth by acquisitions, providing shares purchased
to this end do not exceed 5% of the share capital of the Company;
- allocate shares upon the exercise of rights attached to marketable securities allocated
to Group employees and management, in particular within the framework of profit sharing
or through a company saving plan or the allocation of free shares;
- allocate shares upon the exercise of rights attached to marketable securities in
accordance with applicable regulations;
- cancel shares, subject to the approval of the extraordinary 11th resolution by the
Combined General Meeting of 2 May 2007.
The maximum purchase price has been set at € 37 per share. The maximum amount to be
committed to this purchase programme was € 487,988,153.
M6 GROUP - 2007 annual report
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