4 June 2012
SES, has signed on 1 June 2012 a subscription agreement with a financial institution relating to the subscription of 4,614,870 A-shares of SES at a price per share equal to the closing price of the SES fiduciary depositary receipts (FDRs) on Euronext Paris on such date, i.e. EUR 17.6450 (the Closing Price). Such 4,614,870 A-shares have been issued today simultaneously with 2,307,435 B-shares.
Following the execution of this agreement and pursuant to the shareholders’ general meeting of SES dated 5 April 2012 that authorized the board of directors to purchase a maximum of 14,000,000 A-shares or FDRs within the framework of its share buy-back programme approved by the board of directors on 5 April 2012, SES entered into, on 1 June 2012, a forward agreement with such financial institution for the purchase of FDRs in relation to 4,614,870 A-shares of SES (the Forward Agreement). The Forward Agreement is entered into by SES to allow delivery of FDRs upon exercise of the outstanding stock purchase options issued by SES.
The Forward Agreement sets forth the terms and conditions of the purchase of the FDRs, including, in particular, the purchase price of the FDRs to be paid by SES to the financial institution, which is based on the Closing Price, and the maturities of the Forward Agreement, being 25 June 2012, 25 July 2012 and 12 December 2012 for the purchase of 600,000 FDRs, 2,000,000 FDRs and 2,014,870 FDRs respectively.
