Large companies: commitment of responsibility to benefit from cash support measures

A large company that requests a deferral of tax and social maturities or a government-guaranteed loan undertakes to:

• Do not pay dividends in 2020 to its shareholders in France or abroad (excluding entities with a legal obligation to distribute a fraction in 2020);
• Do not make share repurchases in 2020.

For the groups, this commitment covers all French entities and subsidiaries of the group in question, even if only some of these entities or subsidiaries would benefit from cash support.

However, companies that took such measures before March 27^th, the day the government announced the scheme, or have a legal obligation to pay a dividend, are not affected by this commitment.

In the event of non-compliance with this commitment, including a decision by the company's governing bodies that does not comply with these rules, deferred social contributions or tax deadlines or the state-guaranteed loan will have to be repaid with the application of the common law lateness penalties. These increases will be deducted from the normal due date of the deferred maturities

The government has published a FAQ for large companies that wish to benefit from the support measures.