METabolic EXplorer awards 350.000 share warrants to employees

29 May '08

3 min read

- ratification of the exception to the loss of right to allocation of free shares to beneficiaries in the event of 2nd and 3rd category invalidity set out in Articles L. 341-4 of the French National Health Code, as per the Management Board decision dated October 23, 2007
- delegation of authority to the Management Board for issuing and awarding, for free, 350.000 share warrants to company founders and employees
- delegation of authority to the Management Board for issuing and awarding 100.000 share warrants of the company
- delegation of authority to the Management Board for issuing share warrants enabling subscription to the Company shares under preferential conditions in the event of a public offer to purchase or exchange the Company's shares according to the conditions set out in Articles L. 233-32 II of the French Commercial Code
- delegation of authority to the Management Board (with the option to subdelegate) in order to proceed with a share buy-back program covering up to 10% of the Company's share capital
- authorization given to the Management Board in order to cancel Company's own shares acquired as part of a share buy-back program by reduction of the Company's share capital
- the rejection, according to the Boards recommendation, of the creation of an employee share scheme as per conditions set out in Articles L. 443-5 of the French Labor Code and Article L. 225-129-6 of the French Commercial Code – with delegation of authority to the Management Board

Lastly, the Management Board was given full powers to carry out all legal and administrative formalities. The decisions taken testify to the cohesion of METabolic EXplorer's shareholders and their will to adapt the company in view of its new dimension.

METabolic EXplorer

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