Exhibit 99.1
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| | Press Release Source: Sanofi (EURONEXT: SAN) (NASDAQ: SNY) |
Sanofi launches its new global employee share ownership plan
PARIS - June 7, 2021 - Sanofi today launches Action 2021, its global employee share ownership plan, open to 92,000 employees in 73 countries. The program, similar to programs carried out since 2013, clearly demonstrates the ongoing commitment of Sanofi and its Board of Directors to involve all employees, across all its territories, in the future development and results of the company.
“The record level of employee participation in last year’s share plan demonstrated our employee’s commitment to the company and our long-term strategy and growth. With the continued support of the Board of Directors, we want our employees to have these opportunities to be increasingly involved in Sanofi’s success by sharing in its performance,” said Paul Hudson, Chief Executive Officer of Sanofi.
As of today, the shares will be offered at a subscription price of 69,38€, which is equal to a 20% discount off the average of the 20 opening prices of Sanofi shares from May 6 to June 2, 2021. In addition, for every five shares subscribed, employees will be able to receive one free share (up to a maximum of four free shares per employee). And finally, each employee will be able to purchase up to 1,500 Sanofi shares within the legal limit of a maximum payment amount that does not exceed 25% of their gross annual salary, minus any voluntary deductions already made under employee savings schemes (Group Savings Plan and/or Group Retirement Savings Plan) during the year 2021.
In 2020, the employee share ownership plan, open to around 90,000 employees in 72 countries, saw its overall uptake rate exceed 36%. More than 33,000 Sanofi employees chose to invest in the company.
Today, nearly 90,000 current or former employees of the company are direct or indirect shareholders of Sanofi, and hold approximately 2.8% of its capital.
Detailed conditions
An eligibility condition of three months employment by the closing date of the offer period will apply. Eligible staff will be able to subscribe shares from 7 June 2021 (inclusive) to 25 June 2021 (inclusive). The issue is expected to be completed and the delivery of the securities carried out by the end of July 2021.
The maximum number of Sanofi shares that may be issued under this offer is 6,294,858 shares (corresponding to a maximum capital increase of €12,589,717 at nominal value, being 0.5% of share capital)
The new shares, including the matching shares (the “Shares”), will be subscribed (or delivered) either directly or through the intermediary of employee mutual funds (“FCPE”), depending on the regulations and/or tax regime applicable in the various countries of residence of those eligible for the capital increase.
