6.4 Employee shareholdings


As of December 31, 2020, employees of the Group owned 1.32% of Rubis’ share capital and voting rights through the Rubis Avenir mutual fund. Since it was put in place in 2002, Rubis has launched a capital increase reserved for employees of eligible companies (companies with their registered office in France) every year. All of these operations have seen a high level of participation by the Group’s employees.


6.4.1 Capital increase reserved for Group employees: 2020 transaction


On January 6, 2020, upon the Combined Shareholders’ Meeting’s approval on June 11, 2019, the Management Board carried out a capital increase reserved for employees of eligible Group companies, by means of the Rubis Avenir mutual fund.


In accordance with Article L. 3332-19 of the French Labor Code, and with the delegation granted by the shareholders, the subscription price for new shares was set at 70% of the average listing price during the 20 trading days preceding the meeting on January 6, 2020. This average was €53.53, giving a subscription price of €37.48.


This transaction resulted in the subscription of 102,837 new shares in a total amount of €3,854,330.76, representing the payment of par value in the amount of €128,546.25 and a share premium in the amount of €3,725,784.51. The subscription rate by the Group’s employees was 52.82%.


The Management Board approved a further transaction on January 4, 2021. Subscription is ongoing as of the filing date of this document.


6.4.2 Summary table of capital increases reserved for employees


The table below provides the characteristics of the last three capital increases reserved for employees and implemented by the Company.


    2020   2019   2018
Number of eligible employees   975   941   916
Number of subscriptions   515   632   629
Subscription rate   52.82%   67.16%   68.67%
Subscription price (in euros)   37.48   37.43   47.19
Total number of shares subscribed   102,837   144,053   117,977