2 Nov 2009 17:38
A NEW STOCK OFFERING RESERVED FOR BMCE BANK GROUPS' EMPLOYEES
As part of the celebration of the Fiftieth Anniversary of La Banque Marocaine du Commerce Extérieur, the Board of BMCE Bank, met on September 24, 2009, decided at the initiative of Chairman Othman Benjelloun an increase of capital of BMCE Bank that is exclusively reserved for BMCE Bank Groups' employees.
After two stock ownership employee programs launched in 2003 and 2005, unprecedented in terms of structuring and capital gains realized by the employees, the Group continues the motivation policy of its staff members, through reinforcing the employees' shareholding in the capital of their company and sharing the fruits of its growth both in Morocco and abroad.
This capital increase by cash subscription, which is exclusively reserved for the employees of the Bank, of Specialized Financial Subsidiaries and of FinanceCom Holding, wishing to acquire these new shares, represents about 3% of share capital.
The issue price of shares, depending on market conditions, is based on the average share price during 2009.
BMCE Bank Group employees may exercise their subscription rights, after the Extraordinary General Meeting to be called in the coming weeks, and after notification of the Regulatory and Concerned Authorities.
BMCE Bank
Investor Relations Department
Tel: +212-5-22-49-80-03/15
BMED.L (BMED)