AGM/EGMMay 18, 2026, 08:03 AM
SES to Cancel 35.9M Shares, Reduce Capital by EUR 44.9M
AI Summary
SES S.A. announced an Extraordinary General Meeting (EGM) to be held on June 17, 2026, to vote on several resolutions. The primary agenda item is the cancellation of 35,928,624 shares, comprising 23,952,416 Class A and 11,976,208 Class B shares, which were purchased under a buy-back program. This action will reduce the company's share capital by EUR 44,910,780, from EUR 696,483,000 to EUR 651,572,220. Additionally, the EGM will consider amendments to the articles of association to introduce indemnification provisions for management, grant the board flexibility in setting AGM dates and locations, allow hybrid meetings, and update disclosure requirements for shareholder meetings.
Key Highlights
- EGM scheduled for June 17, 2026, to approve share capital reduction and articles of association amendments.
- Cancellation of 35,928,624 shares (23,952,416 Class A, 11,976,208 Class B) from buy-back program.
- Share capital to be reduced by EUR 44,910,780.
- New subscribed share capital will be EUR 651,572,220.
- Introduce indemnification provisions for board and executive committee members.
- Grant board discretion to determine AGM date within six months of financial year-end.
- Allow general meetings of shareholders to be held in hybrid mode.
- Introduce disclosure obligations for documents and information related to general meetings.
Price Impact
More from SGBAF