Description of the Lagardère SCA share buyback program

Category

Finance

Paris, August 7, 2007

LAGARDERE SCA

French limited partnership with shares, with capital of €818,191,517.70
Head office: 4 rue de Presbourg, 75116 Paris, France
320 366 446 RCS Paris

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

27 April 2007

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

Directly:

445,305

 (0.32 %)

Indirectly:

707,627

 (0.53 %)

Total:

1,152,932

 (0.85 %)

 3° – Breakdown by objective of equity securities held as of 27 April 2007

  • Allocation to stock option plans

10,805

  • Allocation to exchanges with employees of Hachette Filipacchi Medias 434,500 for their shares from this company resulting from the exercise of options to take out shares

434,500

  • Allocation to the holding objective to prepare for a later exchange

707,627

 

1,152,932

 
4° – Characteristics of the 2007-2008 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 rights.
  • 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 services 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 13,412,975 shares as of 27 April 2007.

In light of the 1,152,932 shares held directly or indirectly as of 27 April 2007, 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 9.14% and 12,260,043 shares.

Maximum purchase price per security: €80

5° – Duration of the buyback program

18 months as of the general meeting, or until 2 October 2008.

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

Situation as of 27 April 2007

Percentage of directly and indirectly self-held capital

0.85%

Number of shares cancelled over the past 24 months

8,561,474 

Number of securities directly and indirectly held in portfolio

1,152,932 

Portfolio book value

 €38,462,693.56 

Portfolio market value

 €66,639,496,60
(based on a price of €57.80)

Information about the 2006-2007 program

 

Cumulative gross flows for
the period from 2 May 2006
to 27 April 2007 

Positions open on 27 April 2007

 

 Purchases

Sales / transfers 

Positions open
for buying

Positions open
for selling

 

 

 

Boughtcall
options (*) 

 Forward
purchases

Sold
call options

 Forward
sales

Number of securities

7,867,094

1,499,905

8,378,727

 

 

 

Average maximum maturity date

 14 December 2016 (**)

 – 

Average price of transactions in euros

 57.42

 52.56

Average exercise price

 

 

 

 

Total amount in euros

 451 707 307.94

 78,831,756.05

(*) 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 14 December 2016.

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.

Paris, 30 April 2007

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