The Group’s off-balance sheet commitments are subject to specific reporting at each annual and interim closing. They are presented according to the activity to which they relate, in the corresponding notes.
| (in € millions) | 31/12/2021 | 31/12/2020 |
|---|---|---|
| Other commitments made | Other commitments made 31/12/20211,325 |
Other commitments made 31/12/2020 958 |
| Other commitments received | Other commitments received 31/12/2021310 |
Other commitments received 31/12/2020 412 |
These amounts include various tax and social security-related guarantees as well as personal sureties provided as performance guarantees relating to work done by concession companies, described in Note F.15.1, “Contractual investment and renewal obligations”.
The commitments made and received by the Group in connection with concession contracts, construction and service contracts and items connected with unrecognised retirement benefit obligations are shown in the following notes:
VINCI has a share buy-back programme approved in its Shareholders’ General Meeting of 8 April 2021 for a period of 18 months, with a maximum purchase amount of €2 billion at a maximum price of €130 per share. The programme commenced in the fourth quarter of 2021.
VINCI acquired 6,714,354 shares on the market at an average price of €89.36 per share, for a total of €600 million.
Treasury shares (see Note H.20.2, “Treasury shares”) are allocated to financing external growth transactions and to covering performance share plans and the employer contributions to international employee share ownership plans. They may also be cancelled. Following the decision taken by the Board of Directors on 16 December 2021, VINCI SA cancelled 6,000,000 shares for €538 million.
VINCI’s employee savings policy aims to make it easier for Group employees to become shareholders. At 31 December 2021, over 54% of the Group’s employees were VINCI shareholders through employee share ownership plans (82% of employees in France). Since those funds own 9.88% of the company’s shares, the Group’s current and former employees form its largest group of shareholders.
Neither the Group’s consolidated equity nor the equity of parent company VINCI SA is subject to any external constraints in the form of financial covenants.
At 31 December 2021, the parent company’s share capital was represented by 592,362,376 ordinary shares of €2.5 nominal value each.
| 2021 | 2020 | |
|---|---|---|
| Number of shares at beginning of period | Number of shares at beginning of period2021588,519,218 | Number of shares at beginning of period 2020 605,237,689 |
| Increases in share capital | Increases in share capital 20219,843,158 |
Increases in share capital 2020 8,281,529 |
| Cancelled treasury shares | Cancelled treasury shares 2021(6,000,000) |
Cancelled treasury shares 2020 (25,000,000) |
| Number of shares at end of period | Number of shares at end of period2021592,362,376 | Number of shares at end of period 2020 588,519,218 |
| Number of shares issued and fully paid | Number of shares issued and fully paid 2021592,362,376 |
Number of shares issued and fully paid 2020 588,519,218 |
| Nominal value of one share (in €) | Nominal value of one share (in €) 20212,5 |
Nominal value of one share (in €) 2020 2.5 |
| Treasury shares held directly by VINCI | Treasury shares held directly by VINCI 202124,781,783 |
Treasury shares held directly by VINCI 2020 26,457,495 |
| of which shares allocated to covering performance share plans and employee share ownership plans | of which shares allocated to covering performance share plans and employee share ownership plans202119,389,553 | of which shares allocated to covering performance share plans and employee share ownership plans 2020 21,779,619 |
