Correction

Category

Finance

Paris, July 10, 2006

DESCRIPTION OF THE LAGARDERE SCA SHARE BUYBACK PROGRAM 2006-2007

1 – Date of the general meeting of shareholders who authorized the program

2 May 2006

2 – Number of securities and share capital held by Lagardère SCA

Directly: 2,639,590 (1.86%)
Indirectly: 707,627 (0.29%)
Total: 3,347,217 (2.35%)

3 – Breakdown by objectives of equity securities held as of 1 May 2006

Allocation to stock option plans 1,860,684
Allocation to exchanges with employees of Hachette Filipacchi Medias for their shares from this company resulting from the exercise of options to take out shares 778,906
Allocation to the holding objective to prepare for a later exchange 707,627
  3,347,217

4 – Characteristics of the 2006-2007 program

Objectives pursued:

  • Reducing capital by cancelling all or part of acquired shares.
  • Remittance or exchange of shares upon the exercise of rights attached to securities giving access, in any manner, to the company’s capital.
  • Allotment of shares to beneficiaries of stock options exercising their right.
  • Allotment of bonus shares to employees of the company and of related companies.
  • Allotment of shares to employees in the context of a profit-sharing scheme.
  • Any other allotment of shares to employees of the company and of related companies within the terms and conditions defined by applicable legal stipulations.
  • Holding and subsequent remittance in exchange or payment as part of external growth transactions.
  • Coordination and regulation of the market for the company’s shares in the context of liquidity agreements entered into with an independent investment service provider, the terms of which shall be in accordance with an ethics charter recognized by l’Autorité des Marchés Financiers (the financial market authorities).
  • And, more generally, completion of any other transaction in accordance with regulations and, in particular, with market practices accepted by l’Autorité des Marchés Financiers.

Maximum share capital and maximum number of securities that may be acquired:

10% of capital or 14,224,445 shares as of 2 May 2006.

In light of the 3,347,217 shares held directly or indirectly as of 2 May 2006, and in the case that these are not transferred or cancelled during the program, the percentage of capital and the number of shares that may be acquired would then be respectively 7.65% and 10,877,228 shares.

Maximum purchase price per security: €80

5 – Duration of the buyback program

18 months as of the general meeting, or until 2 November 2007.

6 – Summary of transactions made in the context of previous programs

Situation as of 1 May 2006

Percentage of directly and indirectly self-held capital 2.35%
Number of shares cancelled over the past 24 months 0
Number of securities held in portfolio 3,347,217
Portfolio book value €155,290,504.26
Portfolio market value

€219,242,713.50
(based on a price of €65.50)



Information about the 2005-2006 program

   Cumulative gross flows forthe period from 11 May 2005 to 1 May 2006 Positions open on 1 May 2006
Positions open for buying Positions open for selling
Purchases Sales/ transfers Boughtcall options (*) Forward
purchases
Sold
call options
Forward
sales
Number of securities 211,721 2,282,053 5,121,762 Nil Nil Nil
Average maximummaturity date 10 December 2011 (**)
Average price oftransactions in euros 46.68 43.28
Average exercise price 50.72 Nil Nil Nil
Total amount in euros 9,883,693.77 98,779,495.13

(*) And termination clauses attached to sales with options for repurchase (see press releases from 3 and 10 November 2005).
(**) In intervals between 19 December 2008 and 20 November 2014.

Information about the 2004-2005 program

As information supplementing that provided in the memo about the 2005-2006 buyback program that was the subject of the 11 April 2005 AMF document no. 05-244, the transactions performed between 31 March 2005 (date on which the information given in the above-mentioned memo was fixed) and 10 May 2005 (general meeting date) are summarized below:

  Purchases Sales/transfers

Including sales on the market

Including transfers to employees
Number of securities 116,350 116,350
Average price oftransactions in euros 53.64 53.64
Total amount in euros 6,241,091.50 6,241,091.50

This publication is available at the company’s registered office and from Arlis, 6 Rue Laurent Pichat, 75116 Paris, which oversees the company’s Share division.

It includes information that has been added since the 2 May 2006 publication.


LAGARDERE SCA

French limited partnership with shares, with capital of €866,456,932
Head office: 4 Rue de Presbourg, 75116 Paris, France
320 366 446 RCS Paris

Email alert

To receive institutional press releases from the Lagardère group, please complete the following fields:

Register