2013-vinci-annual-report

3.4 Treasury shares
The disclosures required under Article L.225-211 of the French Commercial Code are made in Note C.3 to the parent company financial
statements on page 295.
3.5 VINCI shares and the stock market
The VINCI share is traded on the regulated market of Euronext Paris (Compartment A) and on several Multilateral Trading Facilities (MTFs), of which
the main ones are Chi-X, Turquoise and BATS. In 2013 as a whole, 66% by volume of the trades were on Euronext Paris and 34% on MTFs.
The VINCI share is included in particular in the CAC 40, Euronext 100, Eurostoxx 50 and Eurostoxx Construction & Materials.
REPORT OF THE BOARD OF DIRECTORS 189
Changes in the stock price and in trading volumes over the last 18 months were as follows (source: Euronext Paris and Bloomberg):
Average price (1)
(in euros)
Highest (2)
(in euros)
Lowest (2)
(in euros)
Transactions (3)
(in millions of shares)
Value of transactions (4)
(in € millions)
2012 July 35.2 38.0 32.1 74.7 2,632.3
August 34.7 36.0 32.1 48.8 1,693.3
September 35.2 37.0 33.2 60.2 2,119.8
October 34.1 35.8 33.1 52.8 1,803.0
November 33.3 34.9 31.8 54.3 1,805.9
December 35.4 36.7 33.9 41.6 1,471.6
2013 January 37.5 38.5 36.4 43.5 1,632.1
February 35.6 38.2 34.2 58.0 2,065.6
March 35.8 36.7 34.8 54.7 1,956.8
April 35.5 37.4 33.3 70.0 2,482.2
May 38.1 40.1 36.2 56.1 2,135.1
June 38.6 40.3 35.9 55.5 2,141.0
July 39.6 40.9 37.9 49.4 1,954.4
August 40.6 41.8 38.6 40.9 1,660.3
September 41.9 43.5 39.3 46.7 1,957.5
October 45.9 48.4 43.0 55.1 2,527.1
November 47.0 48.0 45.1 47.9 2,252.0
December 46.1 47.9 44.5 45.9 2,115.5
(1) Average of closing prices (Euronext Paris).
(2) Price during trading sessions (Euronext Paris).
(3) Volume of transactions (Euronext Paris + MTF).
(4) (Volume of transactions Euronext Paris + MTF) x average price.
4. Matters that could be material in the event of a public offer
In application of Article L.225-100-3 of the French Commercial Code, matters that could be material in the event of a public offer are as
follows:
a) Structure of the Company’s share capital F. General information, paragraph 3.3 “Changes in the breakdown of share capital and
voting rights during the last three years”
b) Restrictions in the Articles of Association on the exercise of voting rights and the
transfer of shares or clauses of agreements brought to the Company’s knowledge in
application of Article L.233-11
c) Direct or indirect investments in the Company’s share capital of which it has
knowledge by virtue of Articles L.233-7 and L.233-12
d) The list of holders of any shares granting special control rights and description
thereof
e) Control arrangements provided if there is an employee shareholding system in
place, whenever rights to control are not exercised by the employees
f) Any agreements between shareholders of which the Company has knowledge and
that could entail restrictions on the transfer of shares and the exercise of voting
rights
g) The rules applicable to the appointment and replacement of members of the Board
of Directors and to amendments of the Articles of Association
h) The powers of the Board of Directors, in particular for the issue or buy-back of
shares
i) Agreements entered into by the Company that are amended or cease in the event
of a change of control of the Company, unless this disclosure would seriously
undermine its interests, except when such disclosure is a legal obligation
j) Agreements providing for compensation payable to members of the Board of
Directors or employees if they resign or are dismissed without valid grounds or if
their employment is terminated due to a public offer
F. General information, paragraph 1 “Statutory threshold provisions (excerpt from Article
10b of the Articles of Association)”
F. General information, paragraph 3.3 “Crossing of shareholding thresholds”
F. General information, paragraph 3.3 “Registered shareholders”
F. General information, paragraph 3.3 “Employee shareholders”
F. General information, paragraph 3.3 “Shareholder agreements or concerted actions”
Report of the Chairman of the Board on corporate governance and internal control
procedures, and provisions of law and Articles of Association
Table of authorisations regarding share capital increases attached to the Report of the
Board of Directors and F. General information, paragraph 3.2 “Potential capital”
Note 21.2.5 to the consolidated financial statements
D. Corporate governance, paragraph 4.1 “Remuneration received by the Chairman and
Chief Executive Officer”