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03 February 2020

Reporting a shareholder pact

In case of an agreement between shareholders of a company listed on a regulated market, are there preferential conditions for buying or selling shares representing at least 0.5% of the company's equity or voting rights? If so, one must send the terms of this clause to the AMF. Focus on procedures for reporting to the AMF.

The regulations, in short

Any clause of an agreement providing for preferential conditions for buying or selling shares admitted to trading on a regulated market representing at least 0.5% of the equity or voting rights of the company that issued the shares must be sent to said company and to the AMF within five trading days from the signature of the agreement or the rider introducing the clause in question.

The AMF shall make this clause public via its decisions and financial information database (BDIF).

Procedures for reporting to the AMF

To report a shareholders’ agreement, one should send an email to one’s customary contact person in the Corporate Finance Directorate and at declarationseuil [at] (declarationseuil[at]amf-france[dot]org).

Contribution due to the AMF

When reporting a shareholders’ agreement, one must pay to the AMF the amount of €750 for each reported agreement.

This fixed duty is due on the day of publication of the major holding notification. It is payable upon receiving a notice of payment (invoice) sent by the AMF.

Corporate Finance Directorate