Below are the details of Unibail-Rodamco's share buy back program
On 24 July and 30 August 2007, Unibail-Rodamco announced that it may
buy back shares in Unibail-Rodamco, within the existing authorization
granted by the Combined General Meeting of shareholders held on 21
May 2007.
Number of securities and proportion of the capital held by
Unibail-Rodamco: on the date hereof, the Company does not hold any
Unibail-Rodamco security, whether directly or indirectly.
Distribution of equity securities held, according to objectives: on
the date hereof, the Company does not hold any Unibail-Rodamco
security, whether directly or indirectly.
Objectives of the share buyback programme: the objectives of the
share buyback programme are as follows:
1. to cancel all or part of the securities thus bought back, under
the conditions provided in Article L. 225-209 paragraph 2 of the
French Commercial Code;
2. to have shares available for distribution to directors and
employees and to those of associated companies, in the context of
stock option schemes, the allocation of existing shares free of
charge or company or inter-company savings schemes;
3. to have shares available to enable the distribution of shares
upon the exercise of rights attached to negotiable securities giving
access to the share capital by means of reimbursement, conversion,
swap, presentation of a coupon or in any other way;
4. to have shares available to be retained and subsequently
distributed by way of swap or payment in the context of external
growth transactions (including acquisitions or accumulations of
investments) without exceeding the limit set by Article L 225-209 of
the French Commercial Code in the context of a merger, split or asset
transfer transaction;
5. to stimulate the market in the shares or their liquidity using an
investment service provider within the framework of a liquidity
agreement;
6. to implement any new market practice that might be accepted by
the French Financial Markets Authority, and, more generally, to carry
out any transaction in accordance with current regulations.
Characteristics of the securities concerned: the securities concerned
by the share buyback programme are the ordinary shares of
Unibail-Rodamco admitted to trading on compartment A of the Eurolist
by Euronext Paris (ISIN Code: FR0000124711) and Amsterdam.
Maximum proportion and maximum number of securities capable of being
acquired: the maximum proportion of the capital of Unibail-Rodamco
capable of being acquired by the company as approved by the AGM of 21
May 2007 is 10%, on the understanding that this percentage will apply
to the capital as adjusted to take account of transactions affecting
it after the Combined General Meeting of shareholders on 21 May 2007,
and that the number of shares that the company Unibail-Rodamco may
hold at any time may at no time exceed 10% of the shares comprising
the capital.
Maximum authorised price per share: the purchase price per share may
not exceed ¤275 (excluding transaction costs).
Minimum authorised price per share: the minimum sale price may not be
less than ¤150 (excluding transaction costs).
Duration of the share buyback programme: the share buyback programme
may be implemented for a period of 18 months with effect from the
date of the Combined General Meeting of shareholders dated 21 May
2007, namely until 20 November 2008.
Implementation of the share buyback programme: at its meeting on 26
June 2007, the Management Board granted its Chairman the power to
implement the aforementioned objectives 1 to 5 of the share buyback
programme of Unibail-Rodamco authorised by the Combined General
Meeting dated 21 May 2007, and to sub-delegate the said power. In
accordance with the said Meeting, the maximum global amount allocated
to objectives 1 to 5 is ¤ 2 billion.
Operations carried out in the context of the previous share buyback
programme (from 27 April 2007 to 20 May 2007): Nil
Pursuant to this buyback programme, Unibail-Rodamco has not made any
acquisition of securities depending on market situations or cancelled
any treasury shares.
It is noted that the buyback programme adopted by the Combined
General Meeting of 27 April 2006 has never been implemented.
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Rodamco Europe
P.O. Box 1233 Rotterdam Netherlands
ISIN:
NL0000289320;
Listed: Compartment A (Large Caps) in EURONEXT AMSTERDAM;