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<strong>01</strong><br />
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2<strong>06</strong><br />
<strong>08</strong><br />
Legal Information<br />
General Information about Sodexo and its Issued Capital<br />
2.4.4 Buybacks and disposals of Sodexo<br />
shares during Fiscal 2<strong>01</strong>1<br />
• At its meeting on January 24, 2<strong>01</strong>1, the Board of<br />
Directors decided to implement the Company’s<br />
share repurchase program as authorized by the<br />
Combined Annual Meeting held on the same date.<br />
• In Fiscal 2<strong>01</strong>1, Sodexo repurchased<br />
3,983,626 shares (representing 2.54% of the share<br />
capital and including the shares repurchased<br />
from FSI) at an average price of 53.<strong>10</strong> euro per<br />
share plus trading fees of 52,<strong>05</strong>7 euro excluding<br />
VAT. Sodexo also transferred 1,<strong>14</strong>3,248 shares<br />
upon exercise of stock options, and directly held<br />
6,389,<strong>05</strong>7 treasury shares (representing 4.<strong>07</strong>% of<br />
the share capital) as of August 31, 2<strong>01</strong>1 intended<br />
to cover the various stock option plans benefiting<br />
Group employees.<br />
• During Fiscal 2<strong>01</strong>1, Sodexho Awards (a whollyowned<br />
subsidiary of Sodexo) did not repurchase<br />
any shares, but it did transfer 69,960 shares upon<br />
the exercise of stock options by Group employees<br />
in the United States. It also held 9,587 Sodexo<br />
shares (representing 0.<strong>01</strong>% of the share capital)<br />
as of August 31, 2<strong>01</strong>1, intended to cover the<br />
various stock options plans benefiting employees<br />
of Sodexo, Inc., pursuant to the rollover of the<br />
plans granted by Sodexho Marriott Services (SMS<br />
Plans) and assumed by Sodexo in 20<strong>01</strong>.<br />
• The total carrying value of the treasury shares<br />
portfolio was 319 million euro as of August 31,<br />
2<strong>01</strong>1.<br />
• Neither the Company nor Sodexho Awards has<br />
purchased any Sodexo shares since August 31,<br />
2<strong>01</strong>1.<br />
2.4.5 description of the new share<br />
repurchase plan (pursuant<br />
to article 241-2 of the General<br />
Regulation of the AMF)<br />
subject to authorization<br />
by the Shareholders’ Meeting<br />
of January 23, 2<strong>01</strong>2<br />
• In its ninth resolution, the Board of Directors will<br />
propose to the Shareholders’ Meeting to be held<br />
on January 23, 2<strong>01</strong>2 that it renew the authorization<br />
given to the Board to repurchase Sodexo’s shares<br />
Sodexo Registration Document Fiscal 2<strong>01</strong>1<br />
P ◀ CONTENTS ▶<br />
pursuant to articles L.225-2<strong>09</strong> et seq. of the French<br />
Commercial Code. This authorization would be<br />
valid for a period of 18 months, replacing the<br />
authorization of the same nature given by the<br />
Shareholders’ Meeting of January 24, 2<strong>01</strong>1.<br />
• The purposes for which the treasury shares are<br />
held in connection with the share repurchase<br />
program are described in paragraph 2.4.4 above.<br />
• The purposes of the repurchase program, the<br />
maximum percentage of the share capital, the<br />
maximum number and characteristics of the<br />
shares that the Company intends to purchase,<br />
together with the maximum purchase price, are<br />
provided in the resolution submitted for approval<br />
by the January 23, 2<strong>01</strong>2 Shareholders’ Meeting on<br />
page 276 of this document.<br />
2.4.6 Management stock option plans<br />
As of August 31, 2<strong>01</strong>1, there were 6,450,453<br />
unexercised stock purchase options reserved for<br />
Group employees and corporate officers, representing<br />
approximately 4.1% of the issued capital at that<br />
date. Of these options, 1,955,663 were exercisable<br />
as of August 31, 2<strong>01</strong>1, each option giving the holder<br />
access to one Sodexo share if exercised (for further<br />
details, see page 255 et seq. of this document).<br />
2.5 Employee share ownership<br />
As of August 31, 2<strong>01</strong>1, employees held 1.<strong>07</strong>% of<br />
the Company’s share capital (approximately 84%<br />
of which was held in a holding entity for Company<br />
employee share purchase plans (FCPE)).<br />
As of August 31, 2<strong>01</strong>1, an estimated 36,<strong>14</strong>0 employees<br />
held Sodexo shares.<br />
2.5.1 Company employee savings plans<br />
The various profit-sharing agreements in force allow<br />
employees of the Group’s French subsidiaries to pay<br />
the amounts they receive in respect of these profitsharing<br />
agreements into an employees’ mutual fund<br />
invested in Sodexo shares, or into a restricted savings<br />
account. To qualify for favorable tax and social<br />
charges treatment, amounts due to employees are<br />
subject to a five-year lock-up period.