EADS Employee Share Programme an Overwhelming Success
Amsterdam, 29 October 2002
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More than 2 million EADS shares offered to employees worldwide
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Strong employee shareholder demand: 80 percent over-subscription
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About 3.35 percent of EADS shares in the hands of employees
The EADS Employee Share Ownership Plan (ESOP) 2002 has been an overwhelming success for the company. There was exceptionally strong demand for the more than 2 million employee shares offered, which have been purchased by over 14,000 EADS employees worldwide during the last two weeks. With 3.6 million shares ordered, the demand exceeded the available offer by 80 percent.
The CEOs of EADS, Philippe Camus and Rainer Hertrich, commented: "The results of ESOP 2002 are an overwhelming success, considering the current climate of the stock markets. The results show the enormous trust the employees place in the future of our business. EADS employees have shown great confidence in our company's financial strength, prudent management and long-term shareholder creation. The employees know first-hand how far we have come in integration and building our company. The strong demand for the shares proves that the members of EADS identify themselves with our young company."
The success of ESOP 2002 also shows another positive aspect: the high level of computer networking inside EADS. Over 100,000 employees of EADS are entitled to participate in the programme. They come from ten countries in four continents. The main part of the ordering process of ESOP was done paperless. The employees were able to order via call centre, Intranet or Internet, the on-line methods being preferred for more than 80 percent of the orders.
Jussi Itavuori, Head of the EADS Human Resources Department, commented: "This favourable response was also the result of providing all of our sites with public terminals. This means that not only employees from administration and engineering have access to the Intra- or Internet, but also the workers at our production sites. With an average of one public terminal for 85 employees at an industrial site, we have a fantastic link rate. EADS has achieved an outstanding level of e-applications for Human Resources Management."
The ESOP 2002 offer consisted of a total of 2,022,939 newly issued shares corresponding to some 0.25 percent of the total issued share capital of EADS. EADS employees were able to purchase shares from 14th to 25th October at a discounted price calculated on the last trading day preceeding the offer. The maximum individual subscription was 500 shares. After completion of the capital increase, about 3.35 percent of EADS shares are in the hands of the EADS employees. ESOP 2002 was authorized by the EADS Board of Directors and the Annual General Meeting.
For further details, including the different operating procedures duly validated by the relevant capital markets, see www.eads.net.
EADS is a global aerospace and defence company, and is the world's second largest in terms of revenues, having achieved €30.8 billion in 2001. EADS maintains a workforce of more than 100,000 and is a market leader in defence technologies, commercial aircraft, helicopters, space, military transport and combat aircraft, as well as related services. Its family of leading brands includes the commercial aircraft maker Airbus; Eurocopter, the world's largest helicopter manufacturer; Astrium, the space company and MBDA, the world's second largest missile company. EADS is also the biggest partner in the Eurofighter consortium and heads the A400M military transport aircraft programme. EADS has more than 70 facilities in France, Germany, Spain and the UK. It is active in markets around the world, including the U.S. and Asia.
Contacts:
Dr. Rainer Ohler
Tel. +49 89 607 34 235
Miguel Sanchez
Tel. +34 91 585 77 89
Roland Sanguinetti
Tel. +33 1 42 24 24 26
Eckhard Zanger
Tel. +49 89 607 27961
