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SAFT: Details of the Company's Share Buy-back Programme as Authorised by the Ordinary and Extraordinary General Meeting Dated 3 June 2009

Posted on: Friday, 31 July 2009, 00:00 CDT

PARIS, July 31 /PRNewswire-FirstCall/ -- The purpose of this paper is to describe the objectives and conditions of the Company's new share buy-back programme in accordance with Articles 241-1 et seq. of the General Regulations of the Autorite des Marches Financiers ("AMF"), the French financial markets regulator, and with European Regulation no. 2273/2003.

I - GENERAL SHAREHOLDERS MEETING THAT AUTHORISED THE PROGRAMME - LEGAL FRAMEWORK

This share buy-back programme was authorised by the sixth ordinary resolution of the ordinary and extraordinary shareholders' meeting of 3 June 2009, and agreed on by the Management Board during its 27 July 2009 meeting.

II - NUMBER OF SHARES AND EQUITY INTEREST HELD BY THE COMPANY

As at 27 July 2009, the Company's share capital comprised 18,755,901 shares and the Company held 52,323 of its own shares representing 0.28% of share capital.

Saft Groupe SA shares are listed on EUROLIST of NYSE EURONEXT Paris (Compartment B) ISIN code: FR 0010208165.

III - OBJECTIVE OF THE NEW SHARE BUY-BACK PROGRAMME

The programme's sole objective, as authorised at the 3 June 2009 general meeting, is to improve the share's secondary market or ensure the liquidity of the share via the intervention of an investment services firm acting independently under a liquidity contract complying with the code of ethics recognised by the Autorite des Marches Financiers.

IV - MAXIMUM PROPORTION OF SHARE CAPITAL, MAXIMUM NUMBER OF SHARES THAT MAY BE ACQUIRED UNDER THE NEW SHARE BUY-BACK PROGRAMME

The maximum equity interest that the Company is entitled to acquire under the new share buy-back programme, as authorised by the 3 June 2009 general meeting, is 0.73% of the total number of shares, which will be adjusted for any transactions affecting share capital subsequent to said general meeting. For indication purposes, as at 27 July 2009 the maximum limit amounted to 136,918 shares.

The number of shares used to calculate 0.73% of share capital corresponds to the number of shares purchased less shares sold during the term of the authorisation granted by the general meeting.

V - MAXIMUM PURCHASE PRICE AND MAXIMUM AMOUNT OF FUNDS ALLOCATED TO THE PROGRAMME

The maximum share purchase price established by the 3 June 2009 general meeting is EUR35 per share.

Based on the maximum 0.73% limit of share capital that the Company may hold of its own shares, which for indication purposes amounted to 136,918 shares as at 27 July 2009, the maximum theoretical investment that may be allocated to the buy-back amounts to EUR4,792,130, based on a maximum authorised purchase price of EUR35 per share.

VI - TERM OF THE SHARE BUY-BACK PROGRAMME

The authorisation is granted for a maximum of 18 months, from the general meeting dated 3 June 2009 until 2 December 2010.

This programme takes effect as from 28 July 2009 and will supersede the former programme implemented by virtue of the authorisation granted by the general meeting dated 6 June 2007. The former programme has been suspended since 6 December 2008.

Throughout the entire execution of the new buy-back programme, any material modification in any information stated above will be published based on the procedures stipulated under Article 221-3 of the AMF's General Regulations.

VII- RESULTS OF THE FORMER SHARE BUY-BACK PROGRAMME

The general meeting dated 6 June 2007 authorised a share buy-back programme with an 18-month term, which was not renewed by the general meeting dated 16 June 2008 and expired on 6 December 2008.

The objective of the former share buy-back programme was to improve the share's secondary market or ensure the Company's share liquidity via the intervention of an investment services firm acting independently under a liquidity contract complying with a code of ethics recognised by the Autorite des Marches Financiers. The investment services firm engaged to ensure liquidity of Saft shares was Exane BNP Paribas (16 avenue Matignon - 75008 Paris) which held funds of EUR1,700,000 for this purpose. This liquidity contract between the Company and Exane BNP Paribas has been suspended for an indefinite term since 6 December 2008.

During 2008, the Company executed the following purchases and sales of its own shares:

- Purchases: 167,483 shares at an average purchase price of EUR25.37 per share, - Sales: 146,706 shares at an average sales price of EUR26.19 per share.

A total of 314,189 shares were traded under the liquidity contract in 2008. The Company did not incur any trading costs in respect of these transactions.

As at 31 December 2008, the Company held 52,323 of its own shares representing 0.28% of share capital. Their total value, at cost and as at the same date, amounted to EUR1,175,753. Their market value at 31 December 2008 was EUR1,009,834.

About Saft

Saft (Euronext: Saft) is a world specialist in the design and manufacture of high-tech batteries for industry. Saft batteries are used in high performance applications, such as industrial infrastructure and processes, transportation, space and defence. Saft is the world's leading manufacturer of nickel-cadmium batteries for industrial applications and of primary lithium batteries for a wide range of end markets. The group is also the European leader for specialised advanced technologies for the defence and space industries. With approximately 4,000 employees worldwide, Saft is present in 18 countries. Its 15 manufacturing sites and extensive sales network enable the group to serve its customers worldwide. Saft is listed in the SBF 120 index on the Paris Stock Market.

For more information, visit Saft at http://www.saftbatteries.com

Press and Investors Relations Contacts:

Saft

Jill Ledger, Corporate Communications and Investor Relations Director Tel.: +33-1-49-93-17-77, jill.ledger@saftbatteries.com

Financial Dynamics Stephanie Bia, Tel.: +33-1-47-03-68-16, stephanie.bia@fd.com Yannick Duverge, Tel.: +33-1-47-03-68-10, yannick.duverge@fd.com Clement Benetreau, Tel.: +33-1-47-03-68-12, clement.benetreau@fd.com

SOURCE Saft

Source: PR Newswire

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