Signing of a sharing agreement of capital gain between Denis Ladegaillerie, Chairman, CEO and founder of Believe and Believe SA
Paris, December 7, 2022 – Believe, one of the world’s leading digital music companies, announces the signing of a sharing of capital gain agreement between Denis Ladegaillerie, Chairman, CEO and founder of Believe and Believe SA.
At the very core of Believe's corporate project are 4 key pillars: respect, expertise, fairness, and transparency. This set of driving forces, embodied in the Group's "Shaping Music for Good" program, infuses across all its actions - from supporting the artists and labels it represents to allowing its employees to benefit from the value created.
To this purpose and following the success of Believe’s first employee shareholding plan launched in 2022 with a subscription rate of 40% of eligible employees, Denis Ladegaillerie, , has decided to establish a new lever for value sharing by offering the possibility to share a portion of the value creation with employees.
Such a mechanism is made possible by the French law entitled “Loi PACTE”, dated May 22, 2019, relating to the growth and transformation of companies. It gives Believe, impelled by its chairman and CEO, the possibly to strengthen long-term engagement of employees and to recognize each individual contribution to the Group’s success through the sharing of value creation.
The implementation of this measure is subject to signing a related-party agreement between Denis Ladegaillerie and Believe SA, for which all the terms and conditions are set in a dedicated communication published on 7 December 2022 on the Group's website. (Information on the signing of a related-party agreement)
This contract allows, in the event of a future transfer of shares and after a minimum period of 3 years, to share up to 10% of the capital gain with the employees who have contributed to the company's success, all the while reinforcing the employee shareholding. Amounts shall be transferred, as a priority, to an employee mutual fund invested in Believe shares through the Company saving plan.
Believe is one of the world’s leading digital music companies. Believe’s mission is to develop independent artists and labels in the digital world by providing them the solutions they need to grow their audience at each stage of their career and development. Believe’s passionate team of digital music experts around the world leverages the Group’s global technology platform to advise artists and labels, distribute and promote their music. Its 1,610 employees in more than 50 countries aim to support independent artists and labels with a unique digital expertise, respect, fairness and transparency. Believe offers its various solutions through a portfolio of brands including TuneCore, Nuclear Blast, Naïve, Groove Attack and AllPoints. Believe is listed on compartment A of the regulated market of Euronext Paris (Ticker: BLV, ISIN: FR0014003FE9). www.believe.com