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Employee share ownership
Thanks to a dynamic employee share ownership policy, introduced
in 1970 then regularly improved, Bouygues employees are the Group's
second largest shareholder.
They hold 15.1%
of the capital and 19.1% of the voting rights* through
several employee mutual funds.
With more than 50,000 employees subscribing to these funds, Bouygues
leads the CAC 40 index in terms of employee share ownership.
Two directors representing
employee shareholders were appointed to Bouygues' Board of Directors
in June 1995.
* Figures at 30 June 2008
A corporate savings plan since 1990
Martin Bouygues created a corporate savings plan invested in Bouygues shares in 1990 in order to give employees a stake in the Group's growth. The plan, to which the Group makes matching contributions, is a great success. The original scheme has been steadily improved over the years, encouraging small pay-ins in order to increase the number of investors.
The ceilings for matching contributions were changed on 1 April 2008. Since then, the Group has made a matching contribution equal to 200% of the first €300 paid in, then 100% of employees' voluntary payments from €301 to €1,920 and 50% after that amount up to €3,360 a year.
In addition, capital increases reserved for Group employees have further strengthened the position of employee shareholders.
Five leveraged capital increases since 1999
 Bouygues
Confiance, the first leveraged capital increase reserved
for employees, was launched in December 1999. Limited to €230
million and intended for the 42,000 Group employees with tax residence
in France, the capital increase was oversubscribed by 23%. More
than 20,000 employees subscribed to the scheme, which reached maturity
in January 2005.
 Bouygues
Confiance 2, a second leveraged capital increase also
limited to €230 million, was launched in December 2001. The
scheme, which was oversubscribed by nearly 100%, was open to all
employees in France, expatriate staff and employees from some subsidiaries
abroad. Almost 30,000 employees subscribed. The scheme reached maturity
in January 2007.
 Bouygues
Confiance 3, the third leveraged capital increase reserved
for employees of the Group's French companies, was carried out in
December 2005 and limited to €250 million. Some 25,000 staff
members, or close to 40% of eligible employees, subscribed.
 Bouygues
Partage: an employee share ownership plan accessible on equal terms
In December 2006, the Bouygues Board of Directors
decided to carry out a new employee share ownership plan.
Called Bouygues
Partage, the plan was accessible on equal terms and combined
three advantages:
- a 20% discount for the subscription
of three Bouygues shares;
- an employer's matching contribution
equivalent to the purchase price of nine shares per investor;
- gearing, which brings the number
of subscribed shares to 120.
In sum, for the purchase price of three shares and after five years,
employee shareholders will hold 12 shares plus a portion of the
capital gain on the 108 other shares.
Launched in April 2007, Bouygues Partage was a huge success. The
plan was subscribed by nearly 76% of eligible employees*, i.e. more
than 53,000 staff members in France.
* Eligible employees: employees of the
Bouygues group's French companies.
  See
press release of 21 May 2007
See
press release of 7 December 2006
 Bouygues Confiance 4
Bouygues Confiance 4, the fourth leveraged capital increase reserved for employees of the Group's French companies, was carried out in December 2007 and limited to €300 million. Some 37,500 staff members, or 50% of eligible employees, subscribed.
See
press release of 31 August 2007
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