AXA unveils “Shareplan 2021” | Insurance company
Taking place in 36 countries, Shareplan 2021 will involve around 110,000 AXA employees. According to the company, in most countries, staff will have the option of participating in both a traditional offer and a leveraged offer.
At the same time, the maximum number of new shares that can be issued is 58,951,965 shares, which, according to AXA, corresponds to a capital increase of a nominal amount of approximately 135 million euros.
In its announcement, the insurance group noted: “For the classic offer (excluding Germany, Italy, South Korea, Spain and the United States), the new shares will be subscribed through FCPEs whose employees will receive shares. Employees will have the right to vote directly at AXA general meetings.
The FCPE (Fonds Commun de Placement d’Entreprise) refers to the company’s employee shareholding fund.
AXA continued: “In Germany, Italy, South Korea, Spain and the United States, shares will be subscribed directly by employees and will be held in registered accounts. They will have the right to vote directly. The classic offer will not be offered in Morocco.
“For the leveraged offer outside of China, Italy, South Korea, United States and Sweden where the leveraged formula will not be offered, the new shares will be subscribed through FCPEs whose employees will receive shares. Employees will have the right to vote directly at AXA general meetings.
The withdrawal / subscription period should extend from October 14 to 18, the date of the capital increase being scheduled for November 26.