SELECTIRENTE: DESCRIPTION OF THE SHARE BUYBACK PROGRAM AUTHORIZED BY THE GENERAL MEETING OF JUNE 3, 2022 AND IMPLEMENTED BY THE MANAGER ON SEPTEMBER 30, 2022 – 04/10/2022 at 6:05 p.m.


SELECTIVE

***************

Partnership Limited by shares

with a capital of 66,767,008 euros

***************

Headquarters: 303, Square des Champs-Elysées

91026 EVRY CEDEX

***************

414 135 558 RCS EVRY

DESCRIPTION OF THE SHARE BUYBACK PROGRAM AUTHORIZED BY

THE GENERAL MEETING OF JUNE 3, 2022 AND IMPLEMENTED BY THE MANAGER

SEPTEMBER 30, 2022


Pursuant to the provisions of Articles 241-1 to 241-6 of the General Regulations of the Autorité des Marchés Financiers (”

MFA

“) and European Regulation No. 596/2014, the purpose of this description is to describe the purposes and methods of the share buyback program authorized by the combined general meeting of shareholders of the company SELECTIRENTE of June 3, 2022 and implemented by the Manager, SELECTIRENTE GESTION, on September 30, 2022.


1. Date of the Meeting that authorized the program

The program was authorized by the Combined General Meeting of Shareholders of SELECTIRENTE on June 3, 2022 and implemented by the Manager, SELECTIRENTE Gestion, on September 30, 2022.


2. Program objectives in descending order and open positions:

The objectives are:

  • ensure liquidity and animate the market for the Company’s shares through an investment service provider acting independently under a liquidity contract in accordance with the code of ethics of the Association Française des Financial markets (”

    AMAFI

    ”) recognized by the AMF;

  • purchase shares for retention and subsequent delivery for exchange or payment in the context of any external growth, merger, demerger or contribution transactions in accordance with market practices recognized by the AMF;

  • deliver shares on the occasion of the exercise of rights attached to securities giving the right, by redemption, conversion, exchange, presentation of a warrant or in any other way, to the allocation of shares of the Company in the framework of stock market regulations;

  • to (i) grant stock options to employees and corporate officers of the Company and/or its group within the framework of article L.225-179 et seq. of the French Commercial Code by reference to the article L. 226-1 of said Code, (ii) allot free shares to them within the framework of article L.225-197-1 et seq. and article L.22-10-59 (art. L. 225-197-1 and following before January 1, 2021) of the French Commercial Code by reference to Article L. 226-1 of said Code, or (iii) offer them to acquire shares under the conditions provided for in Articles L 3332-1 and following of the Labor Code, in accordance with article L.22-10-62 (art. L.225-209 before January 1, 2021) of the Commercial Code by reference to article L.226 -1 of said Code;

  • cancel all or part of the shares purchased in accordance with the authorization granted to the Manager;

  • implement any market practice that may be accepted by the AMF and, more generally, carry out any compliant transaction.

SELECTIRENTE does not use derivative products.


3. Breakdown by objectives of securities held

As of September 30, 2022, 2,746 treasury shares are held by SELECTIRENTE in order to ensure liquidity and stimulate the Company’s share market under the above-mentioned liquidity contract.


4. Maximum share of the capital to be acquired, characteristics of the securities likely to be redeemed by the


Company and maximum unit purchase price

The maximum share of the capital that SELECTIRENTE is authorized to acquire is 10% of the shares making up the capital of the Company, within the limit of 417,293 shares.

The securities likely to be bought back by SELECTIRENTE are ordinary shares – ISIN code FR 0004175842 – Ticker: SELER (Compartment B).

The maximum unit purchase price is set at one hundred and twenty euros (€120) per share.


5. Duration of the program

The duration of this share buyback program is 12 months from the end of the previous program, i.e. from 1

er

October 2022 to September 30, 2023.


6. Description of the liquidity contract

In order to implement the objective of liquidity and stimulation of the market, the Management Board (

before the legal transformation of February 3, 2021

) in its meeting of October 3, 2006 approved the signing of a liquidity contract, in accordance with the AMAFI code of ethics recognized by the AMF, with INVEST SECURITIES (73, boulevard Haussmann – 75008 PARIS). For the purposes of this contract, for a period of one year from its signature on October 9, 2006 and renewable annually by tacit agreement, the Company has made available to the investment services provider the sum of three one hundred thousand euros (€300,000). This contract was replaced on April 9, 2020 by a new contract allowing compliance with the regulations in force and in particular AMF decision no. 2018-01 of July 2, 2018, a contract also renewable annually by tacit agreement.

On July 22, 2020, the Management Board of SELECTIRENTE (

Management Board before the legal transformation of February 3, 2021

) decided on an additional contribution in cash of two hundred thousand euros (€200,000). This additional contribution makes it possible to match the resources of the liquidity contract with the market capitalization of the Company and to rebalance the means of cash and securities in order to improve the regularity of the listing of the security and to avoid price discrepancies which do not would not be justified by the market trend.

Mr Jérôme DESCAMPS,

Chairman of SELECTIRENTE Gestion, the Manager.


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Regulated information:


Acquisition or disposal of the issuer’s shares:

– Description of the buyback program


Full and original press release in PDF format:

https://www.actusnews.com/news/76542-descriptif-du-programme-de-rachat-d_actions-sept-2022.pdf

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