2019 Universal registration document and annual financial report - BNP PARIBAS 481
6information on the Parent ComPany finanCial statements at 31 deCemBer 2019
6
Notes to the parent company financial statements
3.d TREASURY SHARES
In millions of euros at
31 December 2019 31 December 2018
Gross carrying amount
Net carrying amount
Net carrying amount
Transaction - - -
Securities available for sale 6 6 6
Investment in subsidiaries 32 32 32
TREASURY SHARES 38 38 38
The fifth resolution of the Shareholders Combined General Meeting of 23 May 2019, which replaced the fifth resolution of the Shareholders Combined General Meeting of 24 May 2018, authorised BNP Paribas SA to buy back shares representing up to 10% of the Bank s issued capital at a maximum purchase price of EUR 73 per share (unchanged from 31 December 2018). The shares could be acquired for the following purposes: for subsequent cancellation in accordance with conditions set by the Shareholders Combined General Meeting of 23 May 2019, to fulfil the Bank s obligations relative to the issue of shares or share equivalents, for stock option plans, for share awards, or for granting or selling shares to employees under an employee profit-sharing plan, employee share ownership plan or Corporate Savings Plan and to cover any type of share award to the employees of BNP Paribas SA and companies controlled exclusively by BNP Paribas SA within the meaning of article L.233-16 of the French Commercial Code; to be held in treasury for subsequent remittance in exchange or payment for acquisitions, mergers, spin-offs
or asset transfers; within the scope of a market-making agreement compliant with the Code of Ethics recognised by the AMF; or for asset and financial management purposes.
This authorisation was granted for a period of 18 months.
At 31 December 2019, BNP Paribas SA held 608,675 treasury shares classified as Equity securities held for long-term investment .
BNP Paribas SA also held 117,776 treasury shares classified as Securities available for sale and intended to be used for free share awards to Group employees, granted or sold as part of an employee profit-sharing plan, employee share ownership plan, or Company Savings Plan.
3.e LONG-TERM INVESTMENTS
In millions of euros
Gross values Provisions Carrying amount
1 Jan. 2019 Purchases
Disposals and
redemptions
Transfers and other
movements 31 Dec.
2019 1 Jan. 2019 Additions
Write- backs
Other variations
31 Dec. 2019
31 Dec. 2019
31 Dec. 2018
Debt securities held to maturity (note 3.c) 546 531 (50) 9 1,036 1,036 546
Investments in subsidiaries and equity securities held for long-term investment (notes 3.c) 3,904 97 (103) 3,898 403 3 (7) 399 3,499 3,501
Investments in affiliates (note 3.c) 71,147 1,129 (1,741) (879) 69,656 7,863 169 (278) (114) 7,640 62,016 63,284
of which merger premium on investments in affiliates 4,258 4,258 3,644 5 (243) 3,406 852 614
Treasury shares (note 3.d) 32 32 32 32
LONG-TERM INVESTMENTS 75,629 1,757 (1,894) (870) 74,622 8,266 172 (285) (114) 8,039 66,583 67,363
