As filed with the Securities and Exchange Commission
on July 26, 2024
Registration No. 333-
UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM S-8
REGISTRATION
STATEMENT UNDER THE SECURITIES ACT OF 1933
| GLOBANT
S.A. |
| (Exact
name of registrant as specified in its charter) |
| |
|
| Grand
Duchy of Luxembourg |
Not
Applicable |
(State
or other jurisdiction of
incorporation or organization) |
(I.R.S.
Employer Identification No.) |
| |
|
37A, Avenue J.F. Kennedy
L-1855, Luxembourg |
| (Address,
including zip code, of Principal Executive Offices) |
| |
|
GLOBANT
S.A. 2024 EQUITY INCENTIVE PLAN
|
| (Full
title of the plan) |
| |
|
Globant, LLC
875 Howard Street, Suite 320
San Francisco, California 94103
Attn: Nicolás Avila
(877) 215-5230 |
Christopher C. Paci
Stephen P. Alicanti
Keith Ranta
DLA Piper LLP (US)
1251 Avenue of the Americas
New York, New York 10020-1104
(212) 335-4500 |
(Name,
address, telephone number,
including area code, of agent for service) |
(Copies
to) |
Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company.
See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,”
and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large accelerated filer x |
|
Accelerated filer o |
| Non-accelerated filer ¨ |
|
Smaller reporting company o |
| |
|
Emerging growth company o |
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. o
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
The documents containing
the information specified in Item 1 and Item 2 of Part I of Form S-8 will be sent or given to participants as specified by
Rule 428(b)(1) under the Securities Act of 1933 (the “Securities Act”). In accordance with the rules and
regulations of the U.S. Securities and Exchange Commission (the “Commission”) and the instructions to Form S-8,
such documents are not being filed with the Commission either as part of this Registration Statement or as prospectuses or prospectus
supplements pursuant to Rule 424 under the Securities Act.
PART II
INFORMATION
REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The following documents which
have been filed by the Registrant with the Commission are incorporated herein by reference:
| |
(a) |
Annual Report on Form 20-F (File No. 001-36535) for the year ended December 31, 2023, filed with the Commission on February 29, 2024; |
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|
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(b) |
Reports on Form 6-K
furnished to the Commission on March 29, 2024, April 9, 2024, May 10, 2024, May 16, 2024 (only with respect to
the unaudited condensed interim consolidated statements of comprehensive income, unaudited condensed interim consolidated statements
of financial position, unaudited selected cash flow data, unaudited supplemental non-IFRS financial information and unaudited schedule
of supplemental information contained in the press release attached as Exhibit 99.1) and June 10, 2024; and |
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|
|
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(c) |
The description of the Registrant’s
common shares, par value $1.20 per share (the “Common Shares”) contained in the Registration Statement on Form 8-A
(File No. 001-36535), filed with the Commission on July 11, 2014, including all amendments and reports filed for the purpose
of updating such description. |
All documents subsequently
filed by the Registrant with the Commission pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act
of 1934, as amended (the “Exchange Act”), and, to the extent designated therein, Reports of Foreign Private Issuer
on Form 6-K furnished by the Registrant to the Commission that are identified in such forms as being incorporated into this Registration
Statement, in each case, subsequent to the initial filing date of this Registration Statement and prior to the filing of a post-effective
amendment which indicates that all securities offered have been sold or which deregisters all securities remaining unsold, shall be deemed
to be incorporated by reference into this Registration Statement and to be a part of this Registration Statement from the date of filing
of such documents.
Any statement contained in
a document incorporated or deemed to be incorporated by reference in this Registration Statement shall be deemed modified, superseded
or replaced for purposes of this Registration Statement to the extent that a statement contained in this Registration Statement, or in
any subsequently filed document that also is deemed to be incorporated by reference in this Registration Statement, modifies, supersedes
or replaces such statement. Any statement so modified, superseded or replaced shall not be deemed, except as so modified, superseded
or replaced, to constitute a part of this Registration Statement.
Item 4. Description of Securities.
Not applicable.
Item 5. Interests of Named
Experts and Counsel.
Not applicable.
Item 6. Indemnification of
Directors and Officers.
The Registrant’s directors
are not held personally liable for the indebtedness or other obligations of Globant S.A. As agents of Globant S.A., they are responsible
for the performance of their duties. Subject to the exceptions and limitations set forth below and mandatory provisions of law, every
person who is, or has been, a director or officer of Globant S.A. will be indemnified by Globant S.A. to the fullest extent permitted
by law against liability and against all expenses reasonably incurred or paid by him or her in connection with any claim, action, suit
or proceeding which he or she becomes involved as a party or otherwise by virtue of his or her being or having been such a director or
officer and against amounts paid or incurred by him or her in the settlement thereof. The words “claim,” “action,”
“suit” or “proceeding” refer to all claims, actions, suits or proceedings (civil, criminal or otherwise, including
appeals) actual or threatened, and the words “liability” and “expenses” include without limitation attorneys’
fees, costs, judgments, amounts paid in settlement and other liabilities.
No indemnification, however,
will be provided to any director or officer: (i) against any liability to Globant S.A. or its shareholders by reason of willful
misconduct, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his or her office; (ii) with
respect to any matter as to which he or she shall have been finally adjudicated to have acted in bad faith and not in the interest of
Globant S.A.; or (iii) in the event of a settlement, unless the settlement has been approved by a court of competent jurisdiction
or by the Registrant’s board of directors.
The rights of indemnification
described above are severable, do not affect any other rights to which any director or officer may otherwise be entitled, continue as
to a person who has ceased to be such director or officer and inures to the benefit of the heirs, executors and administrators of such
a person. Nothing contained in Globant S.A.’s Articles of Association affect any rights to indemnification to which corporate personnel,
including directors and officers, may be entitled by contract or otherwise under law. With respect to the liabilities and expenses, and
subject to the limitations, in each case as described above, Globant S.A. is entitled to provide contractual indemnification to, and
may purchase and maintain insurance for, any corporate personnel, including directors and officers of Globant S.A., as Globant S.A. may
decide from time to time.
Expenses in connection with
the preparation and representation of a defense of any claim, action, suit or proceeding of the character described above will be advanced
by Globant S.A. prior to final disposition thereof upon receipt of any undertaking by or on behalf of the officer or director, who must
repay such amount if it is ultimately determined that he or she is not entitled to indemnification.
The Registrant maintains
an insurance policy that protects its directors and officers from liabilities incurred as a result of actions taken in their official
capacity.
Item 7. Exemption from Registration
Claimed.
Not applicable.
Item 8. Exhibits.
Item 9. Undertakings.
(a) The undersigned
Registrant hereby undertakes:
(1) To file, during
any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:
(i) To include any prospectus
required by Section 10(a)(3) of the Securities Act;
(ii) To reflect in the
prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent post-effective amendment
thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in this Registration Statement.
Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered
would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be
reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) under the Securities Act if, in
the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth
in the “Calculation of Filing Fee Tables” or “Calculation of Registration Fee” table, as applicable, in the effective
registration statement;
(iii) To include any material
information with respect to the plan of distribution not previously disclosed in this Registration Statement or any material change to
such information in this Registration Statement;
provided, however,
that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment
by those paragraphs is contained in reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or
Section 15(d) of the Exchange Act that are incorporated by reference in this Registration Statement.
(2) That, for the purpose
of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration
statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.
(3) To remove from
registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of
the offering.
(b) The undersigned
Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant’s
annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each
filing of an employee benefit plan’s annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated
by reference in this Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein,
and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
(c) Insofar as indemnification
for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant
pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Commission such indemnification
is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer
or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer
or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the
matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification
by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.
SIGNATURES
Pursuant to the requirements
of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in Buenos Aires, Argentina, on July 26, 2024.
| |
GLOBANT S.A. |
| |
|
|
| |
|
|
| |
By: |
/s/ Juan Ignacio
Urthiague |
| |
|
Juan Ignacio Urthiague |
| |
|
Chief Financial Officer |
POWER
OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that each person
whose signature appears below constitutes and appoints each of Martín Migoya, Martín Gonzalo Umaran and Juan Ignacio Urthiague
as his or her true and lawful attorney-in-fact, with full power of substitution and resubstitution for him or her and in his or her name,
place and stead, in any and all capacities to sign any and all amendments including post-effective amendments to this Registration Statement
on Form S-8 (including, without limitation, any additional registration statement filed pursuant to Rule 462 under the Securities
Act of 1933), and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange
Commission, hereby ratifying and confirming all that said attorney-in-fact or his substitute, each acting alone, may lawfully do or cause
to be done by virtue thereof.
Pursuant to the requirements of the Securities Act of 1933, as amended,
this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.
| Signature |
|
Title |
|
Date |
| |
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|
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| /s/ Martín Migoya |
|
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|
| Martín Migoya |
|
Chairman of the Board and
Chief Executive Officer
(Principal Executive Officer) |
|
July 26, 2024 |
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|
|
|
|
| /s/ Juan Ignacio Urthiague |
|
|
|
|
| Juan Ignacio Urthiague |
|
Chief Financial Officer
(Principal Financial Officer) |
|
July 26, 2024 |
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|
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|
| /s/ Yanina Maria Conti |
|
|
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| Yanina Maria Conti |
|
Chief Accounting Officer
(Principal Accounting Officer) |
|
July 26, 2024 |
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| /s/ Martin Gonzalo Umaran |
|
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| Martín Gonzalo Umaran |
|
Director and Chief Corporate Development Officer
and President for EMEA |
|
July 26, 2024 |
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| /s/ Guibert Andrés Englebienne |
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| Guibert Andrés Englebienne |
|
Director and President of Globant X and Globant Ventures – President for Latin America |
|
July 26, 2024 |
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| /s/ Francisco Álvarez-Demalde |
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| Francisco Álvarez-Demalde |
|
Director |
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July 26, 2024 |
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| /s/ Andrea Mayumi Petroni Merhy |
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| Andrea Mayumi Petroni Merhy |
|
Director |
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July 26, 2024 |
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| /s/ Andrew McLaughlin |
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| Andrew McLaughlin |
|
Director |
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July 26, 2024 |
|
/s/ Maria Pinelli |
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| Maria Pinelli |
|
Director |
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July 26, 2024 |
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| /s/ Linda Rottenberg |
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| Linda Rottenberg |
|
Director and Lead Independent Director |
|
July 26, 2024 |
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| /s/ Alejandro Nicolás Aguzin |
|
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| Alejandro Nicolás Aguzin |
|
Director |
|
July 26, 2024 |
AUTHORIZED REPRESENTATIVE
Pursuant to the requirements
of the Securities Act of 1933, as amended, the undersigned, the duly authorized representative in the United States of the Registrant,
has signed this Registration Statement in the City of New York, State of New York, on July 26, 2024.
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/s/ Nicolás Avila |
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Name: |
Nicolás Avila |
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Title: |
Authorized Representative in the United States |
Exhibit 3.1
« GLOBANT S.A. »
société anonyme
L-1855 Luxembourg, 37A, avenue J.F. Kennedy
R.C.S. Luxembourg, section B numéro
173.727
**********************************************************************************
STATUTS COORDONNES à la date du 10 mai 2024
**********************************************************************************
A. NAME
- DURATION - PURPOSE - REGISTERED OFFICE
Article 1 Name
There exists a company in
the form of a joint stock company (société anonyme) under the name of “GLOBANT S.A.” (the "Company")
which shall be governed by the law of 10 August 1915 concerning commercial companies, as amended (the “Law”),
as well as by the present articles of
association.
Article 2 Duration
The Company is incorporated for an unlimited duration. It
may be
dissolved at any time and without cause by a resolution
of the general meeting of shareholders, adopted in the manner required for an amendment of these articles of association.
Article 3 Object
3.1. The
Company's primary purpose is the creation, holding, development and realization of a portfolio, consisting of interests and rights of
any kind and of any other form of investment in entities in the Grand Duchy of Luxembourg and in foreign entities, whether such entities
exist or are to be created, especially by way of subscription, acquisition by purchase, sale or exchange of securities or rights of any
kind whatsoever, such as equity instruments, debt instruments, patents and licenses, as well as the administration and control of such
portfolio.
3.2. The
Company may further grant any form of security for the performance of any obligations of the Company or of any entity in which it holds
a direct or indirect interest or right of any kind or in which the Company has invested in any other manner or which forms part of the
same group of entities as the Company and lend funds or otherwise assist any entity in which it holds a direct or indirect interest or
right of any kind or in which the Company has invested in any other manner or which forms part of the same group of companies as the Company.
3.3. The
Company may borrow in any form and may issue any kind of notes, bonds and debentures and generally issue any debt, equity and/or hybrid
or other securities of any kind in accordance with Luxembourg law.
3.4. The
Company may carry out any commercial, industrial, financial, real estate, technical, intellectual property or other activities which it
may deem useful in accomplishment of these purposes.
Article 4 Registered
office
4.1 The
Company's registered office is established in the city of Luxembourg, Grand Duchy of Luxembourg. The Company's registered office may be
transferred by a resolution of the board of directors within the same municipality.
4.2 It
may be transferred to any other municipality in the Grand Duchy of Luxembourg by means of a resolution of the general meeting of shareholders.
4.3 Branches
or other offices may be established either in the Grand Duchy of Luxembourg or abroad by a resolution of the board of directors.
B. SHARE
CAPITAL - COMMON SHARES - REGISTER OF COMMON SHARES - OWNERSHIP AND TRANSFER OF COMMON SHARES
Article 5 Share
capital
5.1. The
Company has a share capital of fifty-two million forty-four thousand two hundred and thirty-six US dollars and forty cents (USD
52,044,236.40) and is divided into forty-three million three hundred and seventy thousand one hundred and
ninety-seven (43,370,197) common shares having a nominal value of one US dollar and twenty cents (USD 1.20) per common
share.
5.2. The
Company's issued share capital may be (i) increased by a resolution of the board of directors (or delegate thereof) in
accordance with articles 6.1 and 6.2 of these articles of association or (ii) increased or reduced by a resolution of the
general meeting of shareholders, adopted in the manner required for an amendment of these articles of association.
Article 6 Authorized
capital
6.1 The
Company’s authorized capital, excluding the Company's share capital, is set at the amount of ten million two hundred and seventy-four
thousand eight hundred and sixty-nine US dollars and twenty cents (USD 10,274,869.20), represented by eight million five hundred and sixty-two
thousand three hundred and ninety-one (8,562,391) common shares having a nominal value of one US dollar and twenty cents (USD 1.20) per
common share.
6.2 The
board of directors is authorized to issue common shares, to grant options to subscribe for common shares and to issue any other instruments
convertible into, or giving rights to, common shares within the limit of the authorized share capital, to such persons and on such terms
as it shall see fit, and specifically to carry out such issue or issues without reserving a pre-emptive subscription right for the existing
shareholders during a period of time from the date of the extraordinary general meeting of shareholders held on 10 May 2024 and ending
on the fifth (5th) anniversary of the date of the extraordinary general meeting of shareholders held on 10 May 2024. Such common
shares may be issued above, at or below market value, above or at nominal value, or by way of incorporation of available reserves (including
premium). The general meeting has authorized the board of directors to waive, suppress or limit any pre-emptive subscription rights of
shareholders to the extent the board deems such waiver, suppression or limitation advisable for any issue or issues of common shares within
the scope of the Company’s authorized (un-issued) share capital. This authorization may be renewed, amended or extended by resolution
of the general meeting of shareholders adopted in the manner required for an amendment of these articles of association. Upon an issue
of shares within the authorized share capital, the board shall have the present articles of association amended accordingly.
6.3 The
authorized capital of the Company may be increased or reduced by a resolution of the general meeting of shareholders adopted in the manner
required for amendments of these articles of association.
Article 7 Common
shares
7.1 The
Company’s share capital is divided into common shares, each of them having the same nominal value. The common shares of the Company
are shall remain in registered form only.
7.2 The Company may have one or several shareholders.
7.3 No fractional common shares shall be issued or exist.
7.4 Within
the limits and conditions laid down by the Law, the Company may repurchase its own common shares and may hold them in treasury.
7.5 A
register of common shares will be kept by the Company and will be available for inspection by any shareholder. Ownership of
registered common shares will be established by inscription in the said register or in the event separate registrars have been
appointed pursuant to article 7.6, in such separate register(s). Without prejudice to the conditions for transfer by book
entries provided for in article 7.8 of these articles of association, a transfer of registered common shares shall be carried out by
means of a declaration of transfer entered in the relevant register, dated and signed by the transferor and the transferee or by
their duly authorized representatives or by the Company upon notification of the transfer or acceptance of the transfer by the
Company. The Company may accept and enter in the relevant register a transfer on the basis of correspondence or other documents
recording the agreement between the transferor and the transferee.
7.6 The
Company may appoint registrars in different jurisdictions who will each maintain a separate register for the registered common shares
entered therein and the holders of common shares may elect to be entered in one of the registers and to be transferred from time to time
from one register to another register. The board of directors may however impose transfer restrictions for common shares that are registered,
listed, quoted, dealt in or have been placed in certain jurisdictions in compliance with the requirements applicable therein. A transfer
to the register kept at the Company's registered office may always be requested.
7.7 Subject
to the provisions of article 7.8 and article 7.10, the Company may consider the person in whose name the registered common shares
are registered in the register of shareholders as the full owner of such registered common shares. In the event that a holder of
registered common shares does not provide an address in writing to which all notices or announcements from the Company may be sent,
the Company may permit a notice to this effect to be entered into the register of shareholders and such holder’s
address will be deemed to be at the registered office of the Company or such other address as may be so entered by the Company from
time to time, until a different address shall be provided to the Company by such holder in writing. The holder may, at any time,
change his address as entered in the register of shareholders by means of written notification to the Company.
7.8 The
common shares may be held by a holder (the “Holder”) through a securities settlement system or a Depository (as this
term is defined below). The Holder of common shares held in such fungible securities accounts has the same rights and obligations as if
such Holder held the common shares directly. The common shares held through a securities settlement system or a Depository shall be recorded
in an account opened in the name of the Holder and may be transferred from one account to another in accordance with customary procedures
for the transfer of securities in book-entry form. However, the Company will make dividend payments, if any, and any other payments in
cash, common shares or other securities, if any, only to the securities settlement system or Depository recorded in the register of shareholders
or in accordance with the instructions of such securities settlement system or Depository. Such payment will grant full discharge of the
Company’s obligations in this respect.
7.9 In
connection with a general meeting, the board of directors may decide that no entry shall be made in the register of shareholders and no
notice of a transfer shall be recognized by the Company and the registrar(s) during the period starting on the Record Date (as hereinafter
defined) and ending on the closing of such general meeting.
7.10 All
communications and notices to be given to a registered shareholder shall be deemed validly made if made to the latest address
communicated by the shareholder to the Company in accordance with article 7.7 or, if no address has been communicated by the
shareholder, the registered office of the Company or such other address as may be so entered by the Company in the register from
time to time according to article 7.8.
7.11 Where common shares are
recorded in the register of shareholders in the name of or on behalf of a securities settlement system or the operator of such system
and recorded as book-entry interests in the accounts of a professional depositary or any sub-depositary (any depositary and any sub-depositary
being referred to hereinafter as a “Depositary”), the Company - subject to having received from the Depositary a certificate
in proper form - will permit the Depository of such book-entry interests to exercise the rights attaching to the common shares corresponding
to the book-entry interests of the relevant Holder, including receiving notices of general meetings, admission to and voting at general
meetings, and shall consider the Depository to be the holder of the common shares corresponding to the book-entry interests for purposes
of this article 7 of the present articles of association. The board of directors may determine the formal requirements with which such
certificates must comply.
Article 8 Ownership
of common shares
8.1 The
Company will recognize only one (1) holder per common share. If a common share is owned by several persons, they must designate a
single person to be considered as the sole owner of such common share in relation to the Company. The Company is entitled to suspend
the exercise of all rights attached to a common share held by several owners until one (1) owner has been designated.
8.2 The
common shares are freely transferable, subject to the provisions of these articles of association. All rights and obligations attached
to any common share are passed to any transferee thereof, except as otherwise provided for herein.
8.2.1 As long as the common
shares of the Company are admitted to trading on a regulated market (within the meaning of Directive 2014/65/EU) within the territory
of the European Economic Area (the “Regulated Market”) the provisions of Directive 2004/25/EC on takeover bids shall
apply in the context of any takeover in respect of the Company’s common shares.
If the common shares are no
longer admitted to trading on any Regulated Market the following rules shall apply in the context of any takeover in respect of the
Company’s common shares.
Any person (such person
hereinafter called, the “Bidder”) wishing to acquire by any means (including, but not limited to, the conversion
of any financial instrument convertible into common shares), directly or indirectly, common shares (the “Intended
Acquisition”) which, when aggregated with his/her/its existing common share holdings, together with any shares held by a
person controlling the Bidder, controlled by the Bidder and/or under common control with the Bidder, represent at least thirty-three
point thirty-three percent (33.33%) of the share capital of the Company (the “Threshold”), shall have the
obligation to propose an unconditional takeover bid to acquire the entirety of the then-outstanding common shares together with any
financial instrument convertible into common shares (the “Takeover Bid”). Each Takeover Bid shall be conducted in
accordance with the procedure stipulated under clauses (i) through (vii) hereof (the “Takeover Bid
Procedure”) and shall also be conducted in conformity and compliance with the laws and regulations in the jurisdictions in
which the Company´s common shares or other securities are listed and/or where the Takeover Bid takes place and the
rules of the stock exchanges where the Company’s common shares are listed (for the avoidance of doubt excluding any
Regulated Market), in each case, applicable to public offers (collectively, the “Applicable Rules”), it being
understood that, to the extent any such requirements impose stricter rules or regulations upon the Bidder, such stricter
rules and regulations shall be complied with by Bidder.
(i) The
Bidder shall notify the Company in writing about the Intended Acquisition and the Takeover Bid (the “Takeover
Notice”), at least fifteen (15) Luxembourg business days (or such shorter period as is required under Applicable Rules) in
advance of the commencement date thereof (such notification date, the “Takeover Notice Date”). A Takeover Notice
shall also be required regarding any agreement or memorandum of understanding that the Bidder intends to enter into with a holder of
common shares and/or financial instrument convertible into common shares whereby, under certain circumstances, due to such agreement
or memorandum of understanding, the Bidder would become the holder of common shares resulting the Threshold being attained or
exceeded (hereinafter called “Prior Agreement”). In addition to complying with the Applicable Rules, such
Takeover Notice shall include the following minimum information, subject to the inclusion of any additional information as may be
required under the Applicable Rules: (A) The Bidder’s identification, nationality and domicile. If the Bidder is made up
of a group of individuals or entities, the identification and domicile of each member of the group and of the managing officer of
each entity forming part of the group; (B) The consideration offered for the common shares and the financial instruments
convertible into common shares and the source of funds to pay such consideration. (C) The scheduled expiration date of the
Takeover Bid period, whether it can be extended, and if so, how long the extension may be and according to which procedure the
extension shall be made; (D) A statement by the Bidder indicating the exact dates before and after which the holders of common
shares and financial instruments convertible into common shares, who have validly tendered their common shares and/or financial
instruments convertible into common shares subject to the Takeover Bid regime, shall be entitled to withdraw them, how the common
shares and the financial instruments convertible into common shares thus tendered shall be accepted, and how the withdrawal of the
common shares and the financial instruments convertible into common shares from sale under the Takeover Bid regime shall be carried
out; (E) Any additional information, including the Bidder’s financial or accounting statements, as the Company may
reasonably request or which may be necessary so as to avoid the above Takeover Notice from leading to erroneous conclusions or when
the information submitted is incomplete or insufficient.
(ii) On
the Takeover Notice Date, the Company shall mail to each holder of common shares and financial instruments convertible into common shares,
at the Bidder’s cost and expense, a copy of the Takeover Notice. In the case of registered holders of common shares and/or financial
instrument convertible into common shares, the Takeover Notice will be sent by registered mail and in case of common shares and financial
instrument convertible into common shares held through a brokerage account, the Takeover Notice will be mailed to the relevant brokers
through the Depository agent.
(iii)
On the Takeover Notice Date, the Bidder shall publish a notice containing the information stated in paragraph (i). Subject to
applicable legal provisions, the Takeover Notice shall be published in two (2) major newspapers of the Grand Duchy of
Luxembourg and in the City of New York, U.S.A. or such longer period as required under Applicable Laws.
(iv) The
consideration for each common share and financial instrument convertible into common shares payable to each holder thereof shall be
the same, shall be payable in cash only, and shall not be lower than the highest of the following prices:
(A) the
highest price per common shares and financial instrument convertible into common shares paid by the Bidder, or on behalf thereof, in relation
to any acquisition of common shares and the financial instruments convertible into common shares within the twelve months period immediately
preceding the Takeover Notice, adjusted as a consequence of any division of shares, stock dividend, subdivision or reclassification affecting
or related to common shares and/or the financial instruments convertible into common shares; or
(B) the
highest closing sale price, during the sixty-day period immediately preceding the Takeover Notice, of a common share of the Company as
quoted by the New York Stock Exchange, in each case as adjusted as a consequence of any division of shares, stock dividend, subdivision
or reclassification affecting or related to common shares and financial instrument convertible into common shares.
(v) The
Takeover Bid shall be open for a minimum period of at least twenty (20) Luxembourg business days as from the date the Takeover Bid was
commenced.
(vi)
The Bidder shall acquire all common shares and financial instruments convertible into common shares that are validly tendered (and
not withdrawn) before the expiration date of the Takeover Bid in accordance with the provisions of these articles of association
governing Takeover Bids.
(vii)
Once the Takeover Bid Procedure has been completed, the Bidder may execute the Prior Agreement, if any, regardless of the number of common
shares and financial instrument convertible into common shares purchased. The Prior Agreement, if any, shall be executed within thirty
(30) days following the closing of the Takeover Bid; otherwise, it shall be necessary to repeat the Takeover Bid Procedure provided for
in this article in order to execute the Prior Agreement.
8.2.2 If
the terms of article 8.2.1 hereof are not complied with, the Bidder shall be forbidden to acquire common shares, whether directly or
indirectly, by any means (including, but not limited to, the conversion of any financial instrument convertible into common shares)
or instrument if, as a result of such acquisition, the Bidder (when aggregated with any shares held by a person controlling the
Bidder, controlled by the Bidder and/or under common control with the Bidder) becomes the holder of common shares which, in addition
to its prior holdings represent, in the aggregate, at least thirty-three point thirty-three percent (33.33%) of the share capital of
the Company. The Board of Directors shall suspend any right to vote or to receive dividends or any other kind of distributions
attached to common shares acquired in breach of the provisions of article 8.2.1 and none of these common shares shall be counted in
determining the presence of a quorum at any meeting of shareholders of the Company, until such common shares are sold. In addition,
if the terms of article 8.2.1 hereof are not complied with, the Company may consider any transfer of common shares acquired in
breach of the provisions of article 8.2.1 to be invalid in which case none of the Company, any registrar or Depository shall enter
such transfer into the relevant registers and books of the Company.
8.2.3 If
a holder of any financial instrument convertible into common shares contemplating an Intended Acquisition fails to comply with the terms
of article 8.2.1 hereof, the Board of Directors may refuse the conversion into common shares of the portion of any such convertible instruments
which, if converted, would result in that person becoming the holder of common shares in the reach or in excess of the Threshold.
8.2.4 For
the purposes of this article 8.2, the term “indirectly” shall include the Bidder’s parent companies, the companies controlled
by the Bidder or that would end up under its control as a consequence of any Takeover, Takeover Bid or Prior Agreement, as the case may
be, that would grant at the same time the control of the Company, the companies submitted to the common control of the Bidder and other
persons acting jointly with the Bidder; likewise, the holdings any person has through trusts or other similar mechanisms shall be included.
C. GENERAL MEETING
OF SHAREHOLDERS
Article 9 Powers
of the general meeting of shareholders
The shareholders exercise
their collective rights in the general meeting of shareholders. Any regularly constituted general meeting of shareholders of the Company
represents the entire body of shareholders of the Company. It shall have the broadest powers to authorize, order, carry out or ratify
acts relating to the Company.
Article 10 Convening general meetings of shareholders
10.1 The
general meeting of shareholders of the Company may at any time be convened by the board of directors, to be held at such place and on
such date as specified in the convening notice of such meeting.
10.2 The
general meeting of shareholders must be convened by the board of directors, upon request in written indicating the agenda, addressed to
the board of directors by one or several shareholders representing at least ten percent (10%) of the Company´s issued share capital.
In such case, a general meeting of shareholders must be convened and shall be held within a period of one (1) month from receipt
of such request. Shareholder(s) holding at least five percent (5%) of the Company´s issued share capital may request the addition
of one or several items to the agenda of any general meeting of shareholders and propose resolutions. Such requests must be received at
the Company´s registered office by registered mails at least twenty-two (22) days before the date of such meeting.
10.3 The
annual general meeting of shareholders shall be held within six (6) months of the end of each financial year in Luxembourg, at the
registered office of the Company or at such other place as may be specified in the convening notice of such meeting.
10.4 Other
general meetings of shareholders may be held at such place and time as may be specified in the respective notice of meeting.
10.5 General
meetings of shareholders shall be convened in accordance with the provisions of the Law and if the common shares of the Company are listed
on a foreign stock exchange, in accordance with the requirements of such foreign stock exchange applicable to the Company.
10.6 If
the common shares of the Company are not listed on any foreign stock exchange, all shareholders recorded in the register of shareholders
on the date of the general meeting of the shareholders are entitled to be admitted to the general meeting of shareholders.
10.7 If
the common shares of the Company are listed on a stock exchange, all shareholders recorded in any register of shareholders of the Company
are entitled to be admitted and vote at the general meeting of shareholders based on the number of shares they hold on a date and time
preceding the general meeting of shareholders as the record date for admission to the general meeting of shareholders (the “Record
Date”), which the board of directors may determine as specified in the convening notice.
10.8 Any
shareholder, Holder or Depositary, as the case may be, who wishes to attend the general meeting must inform the Company thereof no later
than on the third business day preceding the date of such general meeting, or by any other date which the board of directors may determine
and as specified in the convening notice, in a manner to be determined by the board of directors in the convening notice. In case of common
shares held through the operator of a securities settlement system or with a Depositary designated by such Depositary, a holder of common
shares wishing to attend a general meeting of shareholders should receive from such operator or Depositary a certificate certifying the
number of common shares recorded in the relevant account on the Record Date. The certificate should be submitted to the Company no later
than three (3) business days prior to the date of such general meeting. If the shareholder votes by means of a proxy, the proxy shall
be deposited at the registered office of the Company or with any agent of the Company, duly authorized to receive such proxies, at the
same time. The board of directors may set a shorter period for the submission of the certificate or the proxy in which case this will
be specified in the convening notice.
10.9 If
all shareholders are present or represented at a general meeting of shareholders and state that they have been informed of the agenda
of the meeting, the general meeting of shareholders may be held without prior notice.
Article 11 Conduct of general meetings of shareholders
11.1 A
board of the meeting shall be formed at any general meeting of shareholders, composed of a chairman, a secretary and a scrutineer, each
of whom shall be appointed by the general meeting of shareholders and who do not need to be shareholders. The board of the meeting shall
ensure that the meeting is held in accordance with applicable rules and, in particular, in compliance with the rules in relation
to convening the meeting, quorum, if any, and majority requirements, vote tallying and representation of shareholders.
11.2 An
attendance list must be kept for any general meeting of shareholders.
11.3 Each
common share entitles the holder thereof to one vote, subject to the provisions of the Law. Unless otherwise required by applicable law
or by these articles of association, resolutions at a general meeting of shareholders duly convened are adopted by a simple majority of
the votes validly cast, regardless of the proportion of the issued share capital of the Company present or represented at such meeting.
Abstention and nil votes will not be taken into account.
11.4 A
shareholder may act at any general meeting of shareholders by appointing another person, shareholder or not, as his proxy in writing
by a signed document transmitted by mail or facsimile or by any other means of communication authorized by the board of
directors. One person may represent several or even all shareholders.
11.5 Shareholders who participate
in a general meeting of shareholders by conference call, video-conference or by any other means of communication authorized by the board
of directors, which allows such shareholder’s identification and which allows that all the persons taking part in the meeting hear
one another on a continuous basis and may effectively participate in the meeting, are deemed to be present for the computation of quorum
and majority, subject to such means of communication being made available at the place of the meeting.
11.6 Each shareholder may
vote at a general meeting of shareholders through a signed voting form sent by mail or facsimile or by any other means of communication
authorized by the board of directors and delivered to the Company’s registered office or to the address specified in the convening
notice. The shareholders may only use voting forms provided by the Company which contain at least the place, date and time of the meeting,
the agenda of the meeting, the proposals submitted to the resolution of the meeting, as well as for each proposal three boxes allowing
the shareholder to vote in favor of or against the proposed resolution or to abstain from voting thereon by ticking the appropriate boxes.
The Company will only take into account voting forms received no later than three (3) business days prior to the date of the general
meeting of shareholders to which they relate. The board of directors may set a shorter period for the submission of the voting forms.
11.7 The board of directors
may determine further conditions that must be fulfilled by the shareholders for them to take part in any general meeting of shareholders.
Article 12 Amendments of the articles of association
Subject to the provisions
of the Law and of these articles of association, any amendment of the articles of association requires a majority of at least two-thirds
(2/3) of the votes validly cast at a general meeting at which at least half (1/2) of the issued share capital is represented. In case
the second condition is not satisfied, a second meeting may be convened in accordance with the Law, which may validly deliberate regardless
of the proportion of the issued share capital of the Company represented at such meeting and at which resolutions are taken at a majority
of at least two-thirds (2/3) of the votes validly cast. Abstention and nil votes will not be taken into account for the calculation of
the majority.
Article 13 Adjourning general meetings of shareholders
The board of directors may
adjourn any general meeting of shareholders already commenced, including any general meeting convened in order to resolve on an amendment
of the articles of association, for a period of four (4) weeks. The board of directors must adjourn any general meeting of shareholders
already commenced if so required by one or several shareholders representing in the aggregate at least twenty per cent (20%) of the Company’s
issued share capital. By such an adjournment of a general meeting of shareholders already commenced, any resolution already adopted in
such meeting will be cancelled. For the avoidance of doubt, once a meeting has been adjourned pursuant to the second sentence of this
article 13, the board of directors shall not be required to adjourn such meeting a second time.
Article 14 Minutes of general meetings of shareholders
The board of any general
meeting of shareholders shall draw up minutes of the meeting which shall be signed by the members of the board of the meeting as
well as by any shareholder who requests to do so. Any copy and excerpt of such original minutes to be produced in judicial
proceedings or to be delivered to any third party shall be signed by the chairman or the co-chairman of the board of directors or by
any two of its members.
D. MANAGEMENT
Article 15 Board of directors
15.1 The
Company shall be managed by a board of directors, whose members may but do not need to be shareholders of the Company. The board of directors
is vested with the broadest powers to take any actions necessary or useful to fulfill the Company’s corporate purpose, with the
exception of the actions reserved by law or these articles of association to the general meeting of shareholders.
15.2 In
accordance with article 60 of the Law, the Company’s daily management and the Company’s representation in connection with
such daily management may be delegated to one or several members of the board of directors or to any other person(s) appointed by
the board of directors, who may but are not required to be shareholders or not, acting alone or jointly. Their appointment, revocation
and powers shall be determined by a resolution of the board of directors.
15.3 The
board of directors may also grant special powers by notarized proxy or private instrument to any person(s) acting alone or jointly
with others as agent of the Company.
15.4 The
board of directors is composed of a minimum of seven (7) directors and a maximum of fifteen (15) directors. The board of directors
must choose from among its members a chairman of the board of directors. It may also choose a co-chairman and it may choose a secretary,
who does not need to be a shareholder or a member of the board of directors.
Article 16 Election and removal of directors
and term of the office
16.1 Directors shall be elected
by the general meeting of shareholders, and shall be appointed for a period up to four (4) years; provided however that directors
shall be elected on a staggered basis, with one third (1/3) of the directors being elected each year and; provided, further that such
term may be exceeded by a period up to the annual general meeting held following the fourth anniversary of the appointment. Each elected
director shall hold office until his or her successor is elected. If a legal entity is elected director of the Company, such legal entity
must designate an individual as permanent representative who shall execute this role in the name and for the account of the legal entity.
The relevant legal entity may only remove its permanent representative if it appoints a successor at the same time. An individual may
only be a permanent representative of one director and may not be a director at the same time.
16.2 Any
director may be removed at any time without cause or prior notice by the general meeting of shareholders.
16.3 Directors
shall be eligible for re-election indefinitely.
16.4 If
a vacancy in the office of a member of the board of directors because of death, legal incapacity, bankruptcy, retirement or otherwise
occurs, such vacancy may be filled on a temporary basis by a person designated by the remaining board members until the next general meeting
of shareholders, which shall resolve on a permanent appointment.
Article 17 Convening meetings of the board of directors
17.1 The
board of directors shall meet following notice validly given by the chairman or by any two (2) of its members at the place indicated
in the notice of the meeting as described in the next paragraph.
17.2 Written
notice of any meeting of the board of directors must be given to the directors at least five (5) days in advance of the date scheduled
for the meeting by mail, facsimile, electronic mail or any other means of communication, except in case of emergency, in which case the
nature and the reasons of such emergency must be indicated in the notice. Such convening notice is not necessary in case of assent to
waive such requirement of each director in writing by mail, facsimile, electronic mail or by any other means of communication, a copy
of such document being sufficient proof thereof. Also, a convening notice is not required for a board meeting to be held at a time and
location determined in a prior resolution adopted by the board of directors. No convening notice shall furthermore be required in case
all members of the board of directors are present or represented at a meeting of the board of directors or in the case of resolutions
in writing pursuant to these articles of association.
Article 18 Conduct of meetings of the board of directors
18.1 The
chairman of the board of directors shall preside at all meetings of the board of directors. In the absence of the chairman, the board
of directors may appoint another director as chairman pro tempore.
18.2 The
board of directors can act and deliberate validly only if at least the majority of its members are present or represented at a meeting
of the board of directors.
18.3 Resolutions
are adopted with the approval of a majority of the members present or represented at a meeting of the board of directors. In case of a
tie, the chairman of the board of directors shall have a casting (deciding) vote. In the absence of the chairman of the board of directors,
the director who has been appointed as chairman pro tempore of the meeting shall not have a casting (deciding) vote.
18.4 Any
director may act at any meeting of the board of directors by appointing any other director as proxy in writing by mail, facsimile, electronic
mail or by any other means of communication. Any director may represent one or several other directors.
18.5 Any
director who participates in a meeting of the board of directors by conference-call, videoconference or by any other means of communication
which allows such director’s identification and which allows that all the persons taking part in the meeting hear one another on
a continuous basis and may effectively participate in the meeting, is deemed to be present for the computation of quorum and majority.
A meeting of the board of directors held through such means of communication is deemed to be held at the Company’s registered office.
18.6 The
board of directors may unanimously pass resolutions in writing which shall have the same effect as resolutions passed at a meeting of
the board duly convened and held. Such resolutions in writing are passed when dated and signed by all directors on a single document or
on multiple counterparts, a copy of a signature sent by mail, facsimile or a similar means of communication being sufficient proof thereof.
The single document showing all signatures or the entirety of the signed counterparts, as the case may be, will form the instrument giving
evidence of the passing of the resolutions and the date of the resolutions shall be the date of the last signature.
18.7 The secretary or, if
no secretary has been appointed, the chairman which was present at a meeting, shall draw up minutes of the meeting of the board of directors,
which shall be signed by the chairman or by the secretary, as the case may be, or by any two directors.
Article 19 Committees of the board of directors
The board of directors may
establish one or more committees, including without limitation, an audit committee, a nominating and corporate governance committee and
a compensation committee, and for which it shall, if one or more of such committees are set up, appoint the members who may be but do
not need to be members of the board of directors (subject always, if the common shares of the Company are listed on a foreign stock exchange,
to the requirements of such foreign stock exchange applicable to the Company and/or of such regulatory authority competent in relation
to such listing), determine the purpose, powers and authorities as well as the procedures and such other rules as may be applicable
thereto.
Article 20 Dealings with third parties
The Company will be bound
towards third parties in all circumstances by (i) the sole signature of the chairman of the board of directors, (ii) joint signatures
of any two directors or (iii) by the joint signatures or the sole signature of any person(s) to whom such signatory power has
been granted by the board of directors, within the limits of such authorization.
With respect to matters
that constitute daily management of the Company, the Company will be bound towards third parties by the sole signature of
(i) the administrateur délégué or délégué à la gestion
journalière (“Chief Executive Officer” or “CEO”), (ii) the directeur
financier (“Chief Financial Officer” or “CFO”) or (iii) any other person(s) to
whom such power in relation to the daily management of the Company has been delegated in accordance with article 15 hereof, acting
alone or jointly in accordance with the rules of such delegation, if any has(ve) been appointed.
Article 21 Indemnification
21.1 The
members of the board of directors are not held personally liable for the indebtedness or other obligations of the Company. As agents of
the Company, they are responsible for the performance of their duties. Subject to the exceptions and limitations listed in article 21.2
and mandatory provisions of law, every person who is, or has been, a member of the board of directors or officer of the Company shall
be indemnified by the Company to the fullest extent permitted by law against liability and against all expenses reasonably incurred or
paid by him in connection with any claim, action, suit or proceeding which he becomes involved as a party or otherwise by virtue of his
being or having been such a director or officer and against amounts paid or incurred by him in the settlement thereof. The words “claim”,
“action”, “suit” or “proceeding” shall apply to all claims, actions, suits or proceedings (civil,
criminal or otherwise including appeals) actual or threatened and the words “liability” and “expenses” shall include
without limitation attorneys’ fees, costs, judgments, amounts paid in settlement and other liabilities.
21.2 No
indemnification shall be provided to any director or officer (i) against any liability to the Company or its shareholders by reason
of willful misconduct, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his office
(ii) with respect to any matter as to which he shall have been finally adjudicated to have acted in bad faith and not in the
interest of the Company or (iii) in the event of a settlement, unless the settlement has been approved by a court of competent
jurisdiction or by the board of directors.
21.3 The right of indemnification
herein provided shall be severable, shall not affect any other rights to which any director or officer may now or hereafter be entitled,
shall continue as to a person who has ceased to be such director or officer and shall inure to the benefit of the heirs, executors and
administrators of such a person. Nothing contained herein shall affect or limit any rights to indemnification to which corporate personnel,
including directors and officers, may be entitled by contract or otherwise under law. The Company shall specifically be entitled to provide
contractual indemnification to and may purchase and maintain insurance for any corporate personnel, including directors and officers of
the Company, as the Company may decide upon from time to time.
21.4 Expenses in connection
with the preparation and representation of a defense of any claim, action, suit or proceeding of the character described in this article
21 shall be advanced by the Company prior to final disposition thereof upon receipt of any undertaking by or on behalf of the officer
or director, to repay such amount if it is ultimately determined that he is not entitled to indemnification under this article.
Article 22 Conflicts of interest
22.1 Any
director who has, directly or indirectly, a conflicting interest in a transaction submitted to the approval of the board of directors
which conflicts with the Company’s interest, must inform the board of directors of such conflict of interest and must have his declaration
recorded in the minutes of the board meeting. The relevant director may not take part in the discussions on and may not vote on the relevant
transaction. A special report shall be made on any transactions in which any of the directors may have had an interest conflicting with
that of the Company, at the next general meeting, before any resolution is put in vote.
22.2 No
contract or other transaction between the Company and any other company or firm shall be affected or invalidated by the fact that
any one or more of the directors or officers of the Company is interested in, or is a director, associate, officer, agent, adviser
or employee of such other company or firm. Any director or officer who serves as a director, officer or employee or otherwise of any
company or firm with which the Company shall contract or otherwise engage in business shall not, by reason of such affiliation with
such other company or firm only, be prevented from considering and voting or acting upon any matters with respect to such contract
or other business.
E. AUDITORS
Article 23 Auditor(s)
23.1 The
Company’s annual accounts shall be audited by one or more approved independent auditors (réviseurs d’entreprises
agréés), appointed by the general meeting of shareholders at the board of directors’ recommendation (acting on
the recommendation of the audit committee, if any). The general meeting of shareholders shall determine the number of auditor(s) and
the term of their office which shall not exceed one (1) year and may be renewed for successive one (1) year periods.
23.2 An
auditor may be dismissed at any time with cause (or with his approval) by the general meeting of shareholders. An auditor may be reappointed.
F. FINANCIAL YEAR – PROFITS
– INTERIM DIVIDENDS
Article 24 Financial year
The Company’s financial
year shall begin on the first (1) January of each year and shall terminate on the thirty-first (31st)
December of the same year.
Article 25 Profits
25.1 At
the end of each financial year, the accounts are closed and the board of directors shall draw up or shall cause to be drawn up an inventory
of assets and liabilities, the balance sheet and the profit and loss accounts in accordance with the Law.
25.2 From
the Company’s annual net profits five per cent (5%) at least shall be allocated to the Company’s legal reserve. This allocation
ceases to be mandatory as soon and as long as the aggregate amount of the Company’s legal reserve amounts to ten per cent (10%)
of the Company’s issued share capital. Sums contributed to the Company by shareholders may also be allocated to the legal reserve.
In the case of a share capital reduction, the Company’s legal reserve may be reduced in proportion so that it does not exceed ten
per cent (10%) of the issued share capital.
25.3 The
annual general meeting of shareholders determines upon proposal of the board of directors how the remainder of the annual net profits
will be allocated.
25.4 Dividends
which have not been claimed within five (5) years after the date on which they became due and payable revert back to the Company.
Article 26 Interim dividends –
Share premium and additional premiums
26.1 The
board of directors may declare and pay interim dividends in accordance with the provisions of the Law.
26.2 Any
share premium, additional premiums or other distributable reserve may be freely distributed to the shareholders (including by interim
dividends) subject to the provisions of the Law.
G. LIQUIDATION
Article 27 Liquidation
27.1 In
the event of the Company’s dissolution, the liquidation shall be carried out by one or several liquidators, individuals or legal
entities, appointed by the general meeting of shareholders resolving on the Company’s dissolution which shall determine the liquidator’s/liquidators’
powers and remuneration. Unless otherwise provided, the liquidator or liquidators shall have the most extensive powers for the realization
of the assets and payment of the liabilities of the Company.
27.2 The
surplus resulting from the realization of the assets and the payment of all liabilities shall be distributed among the shareholders in
proportion to the number of common shares of the Company held by them.
H. GOVERNING LAW
Article 28 Governing law
All matters not governed by these articles of association
shall be determined in accordance with the Law.
SUIT LA TRADUCTION FRANÇAISE DE CE QUI PRECEDE
A. DENOMINATION - OBJET - DURÉE
- SIÈGE SOCIAL
Article 1. Dénomination
Il existe une société
anonyme sous la dénomination « GLOBANT S.A. » (ci-après la « Société »)
qui sera régie par la loi du 10 août 1915 sur les sociétés commerciales, telle que modifiée (la «
Loi »), ainsi que par les présents statuts.
Article 2. Durée
La Société est
constituée pour une durée illimitée. Elle pourra être dissoute à tout moment et sans cause par une décision
de l’assemblée générale des actionnaires, prise aux conditions requises pour une modification des présents
statuts.
Article 3. Objet
3.1 La
Société a pour objet principal la création, la détention, le développement et la réalisation
d'un portefeuille, constitué de participations et de droits de toute nature et de toute autre forme d'investissement dans des entités
dans le Grand-Duché de Luxembourg et dans des entités étrangères, que ces entités soient préexistantes
ou qui seront constituées, notamment par voie de souscription, d’acquisition par achat, de cession ou d’échange
de titres ou de droits de quelque nature que ce soit, tels que des titres de participation, des titres de créance, des brevets
et des licences, ainsi que la gestion et le contrôle de ce portefeuille.
3.2 La
Société peut également accorder toute forme de garantie pour l'exécution de toute obligation de la Société
ou de toute entité dans laquelle elle détient une participation ou droit direct ou indirect de toute nature, ou dans laquelle
la Société a investi sous quelque forme que ce soit, ou qui fait partie du même groupe d'entités que la Société
et prêter des fonds ou assister autrement toute entité dans laquelle elle détient une participation ou droit direct
ou indirect de toute nature ou dans laquelle la Société a investi sous quelque forme que ce soit, ou qui fait partie du
même groupe d'entités que la Société.
3.3 La
Société peut emprunter sous toute forme et émettre toute sorte d’obligations ainsi que, de manière générale
émettre toute sorte de titres de créance, de titres de participation et/ou de titres hybrides ou autres conformément
au droit luxembourgeois.
3.4 La
Société pourra exercer toute activité commerciale, industrielle, financière, immobilière, technique,
de propriété intellectuelle ou d’autres activités qu’elle estimera utiles pour l’accomplissement
de ces objets.
Article 4. Siège social
4.1 Le
siège social de la Société est établi dans la ville de Luxembourg, Grand-Duché de Luxembourg. Le
siège social pourra être transféré au sein de la même commune par décision du conseil
d’administration.
4.2 Il
pourra être transféré dans toute autre commune du Grand-Duché de Luxembourg par décision de l'assemblée
générale des actionnaires.
4.3 Des
succursales ou bureaux peuvent être créés, tant au Grand-Duché de Luxembourg qu'à l'étranger,
par décision du conseil d’administration.
B. CAPITAL
SOCIAL – ACTIONS – REGISTRE DES ACTIONS – PROPRIETE ET TRANSFERT DES ACTIONS
Article 5. Capital
social
5.1. Le capital social est fixé
à cinquante-deux millions quarante-quatre mille deux cent trente-six dollars américains et quarante cents (USD
52.044.236,40) et est représenté par quarante-trois millions trois cent soixante-dix mille cent
quatre-vingt-dix-sept (43.370.197) actions ordinaires d’une valeur nominale d’un dollar américain et vingt
cents (USD 1,20) chacune.
5.2 Le capital social émis
de la Société peut être (i) augmenté par une décision du conseil d’administration (ou d’un
délégué de celui-ci) conformément aux articles 6.1 et 6.2 des présents statuts ou (ii) augmenté
ou réduit par une décision de l’assemblée générale des actionnaires, adoptée selon les
conditions requises pour une modification des présents statuts.
Article 6. Capital autorisé
6.1 Le
capital autorisé de la Société, excluant le capital social émis, est fixé à un montant de dix
millions deux cent soixante-quatorze mille huit cent soixante-neuf US dollars et vingt cents (USD 10.274.869,20), représenté
par huit millions cinq cent soixante-deux mille trois cent quatre-vingt-onze (8.562.391) actions ordinaires d'une valeur nominale d'un
US dollar et vingt cents (USD 1,20) chacune.
6.2 Le
conseil d'administration est autorisé à émettre des actions ordinaires, à accorder des options de
souscription d'actions ordinaires et à émettre tous autres instruments convertibles en, ou donnant droit à des,
actions ordinaires dans la limite du capital social autorisé au profit de personnes et dans les conditions qu'il jugera
opportunes, et plus précisément de procéder à une telle émission ou de telles émissions
sans qu'un droit préférentiel de souscription aux actions nouvelles ne soit réservé aux actionnaires
existants pour une période commençant à la date de l'assemblée générale extraordinaire des
actionnaires du 10 mai 2024 et se terminant au cinquième (5ème)
anniversaire de la date de l'assemblée générale extraordinaire des actionnaires du 10 mai 2024. Ces actions
peuvent être émises à une valeur excédant ou en-deçà de la valeur du marché,
au-dessus de ou à la valeur nominale ou par incorporation de réserves disponibles (y compris la prime
d'émission). L'assemblée générale a expressément autorisé le conseil d'administration
à renoncer, supprimer ou limiter tous droits préférentiels de souscription d'actionnaires dans la mesure
où ce dernier jugera cette renonciation, suppression ou limitation opportune pour toute émission ou émissions
d'actions ordinaires dans la limite du capital social autorisé (non-émis) de la Société. Cette
autorisation peut être renouvelée, modifiée ou prolongée par une décision de l'assemblée
générale des actionnaires adoptée aux conditions requises pour la modification des statuts. Après une
émission d'actions dans le cadre du capital social autorisé, le conseil d'administration veillera à ce que les
présents statuts soient modifiés en conséquence .
6.3 Le
capital autorisé (non-émis) de la Société peut être augmenté ou réduit par une décision
de l’assemblée générale des actionnaires, adoptée aux conditions requises pour la modification des statuts.
Article 7. Actions
7.1 Le
capital social de la Société est divisé en actions ordinaires ayant chacune la même valeur nominale. Les actions
ordinaires de la Société sont et devront être uniquement sous forme nominative.
7.2 La Société peut avoir un ou plusieurs actionnaires.
7.3 Aucune fraction d’actions ordinaires ne peut exister ou être émise.
7.4 Dans
les limites et dans les conditions définies par la Loi, la Société peut racheter ses propres actions et les conserver.
7.5 Un
registre des actions ordinaires sera tenu par la Société et mis à disposition aux fins de vérification
par tout actionnaire. La propriété des actions nominatives sera établie par l’inscription sur ledit
registre ou dans le cas où des teneurs de registres séparés ont été nommés
conformément à l'article 7.6, dans ce(s) registre(s) séparé(s). Sans préjudice des
conditions de transfert par inscriptions prévues à l'article 7.8 de ces statuts, un transfert d'actions nominatives
devra être effectué au moyen d'une déclaration de transfert inscrite dans le registre concerné,
datée et signée par le cédant et le cessionnaire ou par leurs représentants dûment
autorisés ou par la Société suite à la notification de la cession ou de l'acceptation de la cession par
la Société. La Société peut accepter et inscrire un transfert dans le registre approprié sur la
base d’une correspondance ou de tout autre document actant un accord entre le cédant et le cessionnaire.
7.6 La
Société peut nommer des teneurs de registre dans différentes juridictions qui tiendront chacun un registre séparé
pour les actions nominatives y inscrites et les détenteurs d'actions ordinaires pourront choisir d'être inscrits dans l'un
des registres et d'être transférés au fil du temps d'un registre à un autre registre. Le conseil d'administration
peut toutefois imposer des restrictions au transfert pour les actions ordinaires inscrites, cotées, traitées ou placées
dans certaines juridictions conformément aux exigences applicables dans ces juridictions. Un transfert vers le registre tenu au
siège social de la Société peut toujours être demandé.
7.7 Sous
réserve des dispositions de l'article 7.8 et l'article 7.10, la Société peut considérer la personne au nom
de laquelle les actions nominatives sont inscrites dans le registre des actionnaires comme étant le propriétaire unique
desdites actions nominatives. Dans le cas où un détenteur d'actions nominatives ne fournit pas d'adresse à laquelle
toutes les notifications et avis de la Société pourront être envoyés, la Société pourra inscrire
ce fait dans le registre des actionnaire et l'adresse de ce détenteur sera considérée comme étant au siège
social de la Société ou à tout autre adresse que la Société pourra inscrire au fil du temps jusqu'à
ce que ce détenteur ait fourni par écrit une adresse différente à la Société. Le détenteur
peut, à tout moment, changer son adresse telle qu'elle figure dans le registre des actionnaires au moyen d'une notification écrite
à envoyer à la Société.
7.8 Les
actions ordinaires peuvent être tenues par un porteur (le «Porteur») à travers un système de compensation
ou d'un Dépositaire (tel que ce terme est défini ci-dessous). Le Porteur d'actions ordinaires détenues dans ces comptes
de titres fongibles a les mêmes droits et obligations que si ce Porteur détenait directement les actions ordinaires. Les
actions ordinaires détenues au travers d’un système de compensation ou d'un Dépositaire doivent être
consignées dans un compte ouvert au nom du Porteur et peuvent être transférées d'un compte à un autre,
conformément aux procédures habituelles pour le transfert de titres sous forme d'inscription en compte. Toutefois, la Société
versera les dividendes, s’il y en a, ainsi que tout autre paiement en espèces, actions ou autres titres, s’il y en
a, uniquement au profit du système de compensation ou du Dépositaire inscrits dans le registre des actionnaires ou conformément
aux instructions de ce système de compensation ou Dépositaire. Ce paiement déchargera complètement la Société
de ses obligations à cet égard.
7.9 Dans
le cadre d'une assemblée générale, le conseil d'administration peut décider qu’aucune entrée
ne soit faite dans le registre des actionnaires et aucun avis de transfert ne soit reconnu par la Société et le(s) teneur(s) de
registre durant la période commençant à la Date d’Inscription (telle que définie ci-après) et
se terminant à la clôture de cette assemblée générale.
7.10 Toutes
les communications et avis à donner à un actionnaire inscrit sont réputés valablement faits s’ils sont
faits à la dernière adresse communiquée par l'actionnaire à la Société conformément à
l'article 7.7 ou, si aucune adresse n'a été communiquée par l'actionnaire, le siège social de la Société
ou à une autre adresse qui pourra être inscrite par la Société dans le registre au fil du temps conformément
à l'article 7.8.
7.11 Lorsque
les actions ordinaires sont enregistrées dans le registre des actionnaires au nom et pour le compte d’un système de
compensation ou de l’opérateur d’un tel système et enregistré comme entrée dans les comptes d’un
dépositaire professionnel ou d’un sous-dépositaire (tout dépositaire et sous-dépositaire désigné
ci-après comme un «Dépositaire»), la Société – sous réserve d'avoir reçu
du Dépositaire un certificat en bonne et due forme – permettra au Dépositaire de telles entrées en compte d'exercer
les droits attachés aux actions ordinaires correspondant aux entrées en compte du Porteur concerné, y compris de
recevoir les convocations aux assemblées générales, l'admission et le vote aux assemblées générales
et doit considérer le Dépositaire comme étant le Porteur des actions ordinaires correspondant aux entrées
compte aux fins du présent article 7 des présents statuts. Le conseil d'administration peut déterminer les conditions
de forme auxquelles devront répondre ces certificats.
Article 8 Propriété
des actions
8.1 La Société
ne reconnaît qu'un seul (1) titulaire par action ordinaire. Si une action ordinaire est détenue par plusieurs personnes,
elles devront désigner une personne qui sera considérée comme seule propriétaire de cette action ordinaire
vis-à-vis de la Société. La Société aura le droit de suspendre l'exercice de tous les droits attachés
à une action ordinaire détenue par plusieurs personnes, jusqu'à ce qu'un (1) propriétaire ait été
désigné.
8.2 Les actions ordinaires
sont librement cessibles, sauf disposition contraire des présents statuts. Tous les droits et obligations attachés à
une action ordinaire seront transférés à tout cessionnaire sous réserve d’une disposition contraire
des présents statuts.
8.2.1 Tant que les actions
ordinaires de la Société sont admises à la négociation sur un marché réglementé (au sens
de la directive 2014/65/UE) sur le territoire de l'Espace Economique Européen (le "Marché Réglementé"),
les dispositions de la directive 2004/25/CE sur les offres publiques d'acquisition s'appliquent dans le cadre de toute prise de contrôle
portant sur les actions ordinaires de la Société.
Si les actions ordinaires
ne sont plus admises à la négociation sur un Marché Réglementé, les règles suivantes s'appliqueront
dans le cadre de toute prise de contrôle portant sur les actions ordinaires de la Société.
Toute personne (cette
personne étant ci-après appelée l’ "Offrant") qui désire acquérir par
quelque moyen que ce soit (y compris, mais sans s'y limiter, la conversion de tout instrument financier convertible en actions
ordinaires), directement ou indirectement, des actions ordinaires (l'"Acquisition Envisagée") qui, une fois
ses actions ordinaires existantes regroupées avec les actions détenues par une personne contrôlant l'Offrant,
contrôlée par l’Offrant et/ou sous contrôle commun avec l’Offrant, représentent au moins
trente-trois virgule trente-trois pour cent (33,33%) du capital social de la Société (le "Seuil"),
aura l'obligation de proposer une offre inconditionnelle d'acquisition pour acquérir la totalité des actions
ordinaires alors en circulation ainsi que tout instrument financier convertible en actions ordinaires (l'"Offre Publique
d’Acquisition"). Chaque Offre Publique d’Acquisition sera menée conformément à la
procédure stipulée aux points (i) à (vii) du présent article (la "Procédure
d'Offre Publique d’Acquisition") et sera également menée dans le respect de et en conformité
avec les lois et règlements des juridictions dans lesquelles les actions ordinaires ou autres titres de la
Société sont cotés et/ou dans lesquelles l'Offre Publique d’Acquisition a lieu et les règles des
bourses où sont cotées les actions ordinaires de la Société (afin d’éviter tout doute, hors
tout Marché Réglementé), dans chaque cas, applicables aux offres publiques (collectivement, les
"Règles Applicables"), étant entendu que, dans la mesure où de telles exigences imposeraient
à l’Offrant des règles ou réglementations plus strictes, ces règles et réglementations plus
strictes devront être respectées par l’Offrant.
(i) L'Offrant notifiera
par écrit à la Société l'Acquisition Envisagée et l'Offre Publique d’Acquisition (la "Notification
d'Offre"), au moins quinze (15) jours ouvrables luxembourgeois (ou tout autre délai plus court requis par les Règles
Applicables) avant la date de son commencement (cette date de notification, la "Date de la Notification d'Offre"). Une
Notification d’Offre sera également requise pour tout accord ou tout protocole d'entente que l'Offrant a l'intention de conclure
avec un détenteur d'actions ordinaires et/ou d'instruments financiers convertibles en actions ordinaires aux termes duquel, dans
certaines circonstances, en raison de cet accord ou protocole d’entente, l'Offrant deviendrait le détenteur d'actions ordinaires
résultant dans l’atteinte du Seuil ou son dépassement (ci-après appelé "Accord Préalable").
En plus de se conformer aux Règles Applicables, la Notification d’Offre devra comprendre les renseignements minimaux suivants,
sous réserve de l’insertion de tout renseignement supplémentaire qui pourrait être exigé en vertu des
Règles Applicables : (A) L'identification, la nationalité et le domicile de l’Offrant. Si l’Offrant est
composé d'un groupe de personnes physiques ou morales, l'identification et le domicile de chaque membre du groupe et du directeur
général de chaque entité faisant partie du groupe ; (B) la contrepartie offerte pour les actions ordinaires
et les instruments financiers convertibles en actions ordinaires et la source des fonds pour payer cette contrepartie. (C) La date
d'expiration prévue de la période de l'Offre Publique d’Acquisition, si elle peut être prolongée et,
dans l'affirmative, quelle peut être la durée de la prolongation et selon quelle procédure cette prolongation doit
être effectuée ; (D) Une déclaration de l'Offrant indiquant les dates exactes avant et après lesquelles
les détenteurs d'actions ordinaires et d'instruments financiers convertibles en actions ordinaires, qui ont valablement offert
leurs actions ordinaires et/ou leurs instruments financiers convertibles en actions ordinaires dans le cadre du régime de l'Offre
d'Achat, auront le droit de les retirer, la manière selon laquelle les actions ordinaires et les instruments financiers convertis
en actions ordinaires ainsi offerts seront acceptés ainsi que la manière dont le retrait des actions ordinaires et des instruments
financiers convertis en actions ordinaires des ventes effectuées dans le cadre de l'Offre doit être effectué ; (E) Toute
information supplémentaire, y compris les états financiers ou comptables de l'Offrant, que la Société pourrait
raisonnablement demander ou qui pourrait être nécessaire afin d'éviter que la Notification d’Offre ci-dessus
ne mène à des conclusions erronées ou lorsque l'information soumise est incomplète ou insuffisante.
(ii)
À la Date de Notification d’Offre, la Société enverra par courrier à chaque détenteur
d'actions ordinaires et d'instruments financiers convertibles en actions ordinaires, aux frais de l’Offrant, un exemplaire de
la Notification d’Offre. Dans le cas des détenteurs nominatifs d'actions ordinaires et/ou d'instruments financiers
convertibles en actions ordinaires, la Notification d’Offre sera envoyée par courrier recommandé et, dans le cas
des actions ordinaires et des instruments financiers convertibles en actions ordinaires détenus dans un compte de courtage,
la Notification d’Offre sera envoyée aux courtiers concernés par l'entremise de l'agent
dépositaire.
(iii)
À la Date de la Notification d’Offre, l'Offrant devra publier un avis contenant les informations mentionnées au paragraphe
(i). Sous réserve des dispositions légales applicables, la Notification d’Offre sera publiée dans deux (2) grands
journaux du Grand-Duché de Luxembourg et dans la ville de New York, États-Unis, ou dans un délai plus long si les
lois applicables le requièrent.
iv) La contrepartie pour chaque
action ordinaire et chaque instrument financier convertible en actions ordinaires payable à chaque détenteur devra être
la même, devra être payable en espèces seulement et ne devra pas être inférieure au plus élevé
des prix suivants :
(A) le
prix le plus élevé par action ordinaire et instrument financier convertible en actions ordinaires payé par l'Offrant,
ou pour son compte, relativement à toute acquisition d'actions ordinaires et aux instruments financiers convertibles en actions
ordinaires au cours de la période de douze mois précédant immédiatement la Notification d’Offre, ajusté
par suite d'une division des actions, d'un dividende en actions, d’un fractionnement ou d'un reclassement touchant les actions ordinaires
et/ou les instruments financiers convertibles en actions ordinaires ; ou
(B) le
cours de clôture le plus élevé, au cours de la période de soixante jours précédant immédiatement
la Notification l’Offre, d'une action ordinaire de la Société cotée à la Bourse de New York, dans chaque
cas ajusté par suite d'une division d'actions, d'un dividende en actions, d'un fractionnement ou d'une reclassification touchant
ou lié aux actions ordinaires et à un instrument financier convertible en actions ordinaires.
(v) L'Offre
Publique d’Acquisition sera ouverte pendant une période minimale d'au moins vingt (20) jours ouvrables luxembourgeois à
compter de la date à laquelle l'Offre Publique d’Acquisition aura été introduite.
(vi) L'Offrant
devra acquérir toutes les actions ordinaires et tous les instruments financiers convertibles en actions ordinaires qui seront valablement
offerts (et non retirés) avant la date d'expiration de l'Offre Publique d’Acquisition conformément aux dispositions
des présents statuts régissant les Offres Publiques d'Acquisition.
(vii) Une fois la
procédure d’Offre Publique d’Acquisition terminée, l'Offrant pourra signer l’Accord
Préalable, s’il y en a un, quel que soit le nombre d'actions ordinaires et d'instruments financiers convertibles en
actions ordinaires acquises. L’Accord Préalable, le cas échéant, sera signé dans les trente (30)
jours suivant la clôture de l'Offre Publique d'Acquisition dans le cas contraire, il sera nécessaire de
répéter la procédure d'Offre Publique d'Acquisition prévue au présent article afin de signer
l’Accord Préalable.
8.2.2 Si
les termes de l'article 8.2.1 ne sont pas respectés, il sera interdit à l’Offrant d'acquérir des actions
ordinaires, directement ou indirectement, par quelque moyen que ce soit (y compris, mais sans s'y limiter, la conversion de tout
instrument financier convertible en actions ordinaires) ou instrument si, en conséquence de cette acquisition, l'Offrant
(lorsqu'il est regroupé avec les actions détenues par une personne qui contrôle l’Offrant,
contrôlée par l'Offrant et/ou sous le contrôle commun de l'Offrant) deviendrait le détenteur d'actions
ordinaires qui, en plus de ses détentions préexistantes, représenteraient au total au moins trente-trois
virgule trente-trois pour cent (33,33%) du capital social de la Société. Le conseil d'administration suspendra tout
droit de vote ou de recevoir des dividendes ou autres distributions de quelque nature que ce soit attachés aux actions
ordinaires acquises en violation des dispositions de l'article 8.2.1 et aucune de ces actions ordinaires ne pourra être prise
en compte pour déterminer si le quorum est atteint à une assemblée des actionnaires de la
Société, tant que ces actions ordinaires ne seront pas vendues. En outre, si les conditions de l'article 8.2.1 des
présents statuts ne sont pas respectées, la Société pourra considérer tout transfert d'actions
ordinaires acquises en violation des dispositions de l'article 8.2.1 comme non valide, auquel cas aucun administrateur ou
dépositaire de la Société, quel qu'il soit, ne pourra inscrire ce transfert dans les registres et livres
pertinents de la Société
8.2.3 Si
le détenteur d'un instrument financier convertible en actions ordinaires qui envisage une Acquisition Envisagée ne se conforme
pas aux modalités de l'article 8.2.1 des présents statuts, le conseil d'administration pourra refuser la conversion en actions
ordinaires de la partie de ces instruments convertibles qui, en cas de conversion, résulterait en ce que cette personne devienne
la détentrice d'actions ordinaires atteignant ou dépassant le Seuil.
8.2.4 Aux
fins du présent article 8.2, le terme "indirectement" comprendra les sociétés mères de l'Offrant,
les sociétés contrôlées par l'Offrant ou qui se retrouveraient sous son contrôle à la suite de
toute Acquisition, Offre Publique d’Acquisition ou Accord Préalable, selon le cas, qui accorderait en même temps le
contrôle de la Société, les sociétés soumises au contrôle commun de l'Offrant et les autres personnes
agissant conjointement avec l’Offrant ; seront également incluses les détentions que pourrait avoir une personne par
l'entremise de trusts ou autres mécanismes similaires.
C. ASSEMBLEES GENERALES
DES ACTIONNAIRES
Article 9. Pouvoirs
de l’assemblée générale des actionnaires
Les actionnaires exercent
leurs droits collectifs en assemblée générale d’actionnaires. Toute assemblée générale
d’actionnaires de la Société régulièrement constituée représente l’ensemble des
actionnaires de la Société. L’assemblée générale des actionnaires a les pouvoirs les plus étendus
pour autoriser, ordonner, réaliser ou ratifier des actes relatifs à la Société.
Article 10. Convocation
des assemblées générales d’actionnaires
10.1 L'assemblée
générale des actionnaires de la Société peut, à tout moment, être convoquée par le conseil
d'administration, au lieu et date fixés dans la convocation à une telle assemblée.
10.2 L'assemblée
générale des actionnaires doit obligatoirement être convoquée par le conseil d'administration sur demande
écrite, comportant l'ordre du jour, d'un ou plusieurs actionnaires représentant au moins dix pour cent (10%) du
capital social de la Société. Dans ce cas, l'assemblée générale des actionnaires doit être
convoquée et tenue dans un délai d'un (1) mois à compter de la réception de cette demande. L'(es)
actionnaire(s) représentant au moins cinq pour cent (5%) du capital social émis de la
Société peuvent demander l'ajout d'un ou plusieurs points à l'ordre du jour de toute assemblée
générale des actionnaires. Une telle demande doit être reçue au siège social de la
Société par lettre recommandée au moins vingt-deux (22) jours avant la date de l'assemblée.
10.3 L'assemblée
générale annuelle des actionnaires doit être tenue dans les six (6) mois suivant la fin de chaque exercice social
au Luxembourg, au siège social de la Société ou à tout autre endroit tel qu'indiqué dans la convocation
à cette assemblée.
10.4 D’autres
assemblées générales d’actionnaires pourront se tenir au lieu et à l’heure indiquée dans
les convocations correspondantes à l’assemblée générale.
10.5 Les
assemblées générales des actionnaires sont convoquées conformément aux dispositions de la Loi et si
les actions ordinaires de la Société sont cotées sur une bourse étrangère, conformément aux
exigences de cette bourse étrangère applicables à la Société.
10.6 Si
les actions de la Société ne sont pas cotées sur une bourse étrangère, tous les actionnaires inscrits
dans le registre des actionnaires à la date de l'assemblée générale des actionnaires ont le droit d'être
admis à l'assemblée générale des actionnaires.
10.7 Si
les actions ordinaires de la Société sont cotées sur une bourse, tous les actionnaires inscrits dans un registre
des actionnaires de la Société ont le droit d'être admis et de voter à l'assemblée générale
des actionnaires sur base du nombre d’actions ordinaires qu’ils détiennent à une date et une heure avant l'assemblée
générale des actionnaires que le conseil d'administration peut déterminer comme la date d’inscription (la «Date
d'Inscription») et telle que précisée dans la convocation.
10.8 Tout
actionnaire, Porteur ou Dépositaire, selon le cas, qui souhaite assister à l'assemblée générale doit
en informer la Société au plus tard le troisième jour ouvrable précédant la date de cette assemblée
générale, ou jusqu’à toute autre date que le conseil d'administration peut déterminer et telle que précisée
dans la convocation, d’une manière devant être déterminée par le conseil d'administration dans l’avis
de convocation. Dans le cas d'actions ordinaires détenues par l'opérateur d'un système de compensation ou par un
Dépositaire désigné par un tel Dépositaire, un Porteur d'actions ordinaires qui souhaite assister à
une assemblée générale des actionnaires doit recevoir de ces opérateurs ou Dépositaires un certificat
attestant le nombre d'actions ordinaires inscrites dans le compte correspondant à la Date d’Inscription. Le certificat doit
être présenté à la Société au plus tard trois (3) jours ouvrables avant la date de cette
assemblée générale. Si l'actionnaire vote au moyen d’une procuration, la procuration doit être déposée
au siège social de la Société ou chez tout autre agent de la Société, dûment autorisé
à recevoir ces procurations, dans le même temps. Le conseil d'administration peut fixer un délai plus court pour le
la présentation du certificat ou de la procuration auquel cas cela sera précisé dans la convocation.
10.9 Si
tous les actionnaires sont présents ou représentés à une assemblée générale des actionnaires
et déclarent qu'ils ont été informés de l'ordre du jour de la réunion, l'assemblée générale
des actionnaires peut être tenue sans convocation préalable.
Article 11 Conduite
des assemblées générales d’actionnaires
11.1 Un
bureau de l'assemblée doit être constitué à chaque assemblée générale
d’actionnaires, composé d'un président, d'un secrétaire et d'un scrutateur, chacun devant être
nommés par l’assemblée générale des actionnaires, sans qu'ils soient nécessairement des
actionnaires. Le bureau doit s’assurer que l’assemblée est tenue en conformité avec les règles
applicables et, en particulier, en conformité avec les règles relatives à la convocation, au quorum,
s’il en existe, au partage des voix et à la représentation des actionnaires.
11.2 Une
liste de présence doit être tenue à toute assemblée générale d’actionnaires.
11.3 Chaque
action ordinaire donne droit à une voix en assemblée générale d’actionnaires, sous réserve des
dispositions de la Loi. Sauf disposition contraire de la Loi ou des statuts, les décisions prises en assemblée générale
d’actionnaires dûment convoquées sont adoptées à la majorité simple des voix valablement exprimées
quelle que soit la part du capital social émis de la Société présente ou représentée à
l’assemblée générale. Les abstentions et les votes blancs ou nuls ne sont pas pris en compte.
11.4 Un
actionnaire peut participer à toute assemblée générale des actionnaires en désignant une autre personne,
actionnaire ou non, comme son mandataire par écrit au moyen d’un document signé, transmis par courrier, par télécopie,
ou par tout autre moyen de communication autorisé par le conseil d’administration. Une personne peut représenter plusieurs
voire même tous les actionnaires.
11.5 Les
actionnaires qui prennent part à une assemblée générale par conférence téléphonique,
vidéoconférence ou par tout autre moyen de communication autorisé par le conseil d’administration, permettant
leur identification et permettant à toutes les personnes participant à l'assemblée de s'entendre mutuellement sans
discontinuité, garantissant une participation effective à l'assemblée, sont réputés être présents
pour le calcul du quorum et de la majorité, à condition que de tels moyens de communication soient disponibles sur les lieux
de tenue de l'assemblée.
11.6 Chaque
actionnaire peut voter à une assemblée générale des actionnaires au moyen d'un bulletin de vote signé,
envoyé par courrier, télécopie ou tout autre moyen de communication autorisé par le conseil d’administration
et délivré au siège social de la Société ou à l'adresse indiquée dans la convocation.
Les actionnaires ne peuvent utiliser que les bulletins de vote fournis par la Société qui indiquent au moins le lieu, la
date et l'heure de l'assemblée, l'ordre du jour de l'assemblée, les résolutions soumises au vote de l'assemblée,
ainsi que pour chaque résolution, trois cases à cocher permettant à l'actionnaire de voter en faveur ou contre la
résolution proposée, ou d'exprimer une abstention par rapport à chacune des résolutions proposées,
en cochant la case appropriée. La Société ne prendra en compte que des bulletins de vote reçus au plus tard
trois (3) jours avant la tenue de l'assemblée générale des actionnaires à laquelle ils se rapportent.
Le conseil d’administration peut fixer une durée plus courte pour la présentation des bulletins de vote.
11.7 Le
conseil d’administration peut définir des conditions supplémentaires qui devront être remplies par les actionnaires
afin qu’ils puissent participer à une assemblée générale des actionnaires.
Article 12. Modification des statuts
Sous réserve des dispositions
de la Loi et des présents statuts, toute modification des statuts nécessite une majorité d’au moins deux-tiers
(2/3) des voix valablement exprimées lors d’une assemblée générale à laquelle au moins la moitié
(1/2) du capital social émis de la Société est représentée. Si le quorum n’est pas atteint à
une assemblée, une seconde assemblée pourra être convoquée dans les conditions prévues par la Loi, qui
pourra alors délibérer quel que soit le capital social émis de la Société représentée
à l’assemblé et lors de laquelle les décisions seront adoptées à la majorité d’au
moins deux-tiers (2/3) des voix valablement exprimées. Les abstentions et les votes blancs ou nuls ne sont pas pris en compte pour
le calcul de la majorité.
Article 13. Prorogation
des assemblées générales des actionnaires
Le conseil d’administration
peut proroger toute assemblée générale d’actionnaires déjà commencée, y compris toute
assemblée générale en vue de statuer sur une modification des statuts, pour une période de quatre (4) semaines.
Le conseil d’administration doit proroger toute assemblée générale des actionnaires déjà commencée
à la demande d’un ou plusieurs actionnaires représentant au moins vingt pour cent (20%) du capital social de la Société.
Lors d’une telle prorogation d’une assemblée générale déjà commencée, toute décision
déjà adoptée par l’assemblée générale des actionnaires sera annulée. Pour éviter
toute confusion, une fois qu’une assemblée a été prorogée conformément à la deuxième
phrase de cet article 13, le conseil d'administration ne sera pas tenu de proroger une telle assemblée une deuxième fois.
Article 14. Procès-verbal
des assemblées générales d’actionnaires
Le bureau de toute assemblée
générale des actionnaires doit dresser un procès-verbal de l’assemblée qui doit être signé
par les membres du bureau de l’assemblée ainsi que par tout actionnaire qui en fait la demande. Toute copie ou extrait de
ces procès-verbaux originaux devant être produit(e) dans le cadre de procédures judiciaires ou devant être
communiqu(é) à tout tiers devra être signé(e) par le président ou le co-président du conseil
d’administration ou par deux membres du conseil d’administration.
D. ADMINISTRATION
Article 15. Conseil d’administration
15.1 La
Société est gérée par un conseil d’administration dont les membres peuvent mais ne doivent pas être
des actionnaires de la Société. Le conseil d’administration est investi des pouvoirs les plus étendus pour
prendre toute mesure nécessaire ou utile afin de réaliser l’objet social de la Société, à l’exception
des pouvoirs réservés par la loi ou par les présents statuts à l’assemblée générale
des actionnaires.
15.2 La
gestion journalière de la Société ainsi que la représentation de la Société en rapport avec
cette gestion journalière peut, en conformité avec l’article 60 de la Loi, être déléguée
à un ou plusieurs membres du conseil d’administration ou à toute(s) autre(s) personne(s) nommée(s) par
le conseil d’administration, qui peuvent mais ne doivent pas être actionnaire, agissant individuellement ou conjointement.
Leur nomination, révocation et pouvoirs seront déterminés par une décision du conseil d’administration.
15.3 Le
conseil d’administration peut également conférer des pouvoirs spéciaux au moyen d’une procuration
authentique ou d’un acte sous seing privé, à toute personne agissant seule ou conjointement avec d’autres
en qualité de mandataires de la Société.
15.4 Le conseil d’administration
est composé au minimum de sept (7) administrateurs et au maximum quinze (15) administrateurs. Le conseil d’administration
doit choisir parmi ces membres un président du conseil d’administration. Il peut aussi choisir un co-président et
il peut choisir un secrétaire qui n’a pas besoin d’être un actionnaire ou un membre du conseil d’administration.
Article 16. Nomination,
révocation et durée des mandats des administrateurs
16.1 Les
administrateurs sont nommés par l’assemblée générale des actionnaires pour un mandat allant jusqu’à
quatre (4) ans ; étant entendu toutefois que les administrateurs doivent être élus sur une base échelonnée,
avec un tiers (1/3) des administrateurs étant élus chaque année et; étant encore entendu que cette période
peut être dépassée d’une période allant jusqu'à l'assemblée générale annuelle
se tenant après le quatrième anniversaire de la nomination. Chaque administrateur élu doit rester en fonction jusqu'à
ce que son successeur soit élu. Si une personne morale est nommée en tant qu’administrateur de la Société,
cette personne morale doit désigner une personne physique en qualité de représentant permanent qui doit assurer cette
fonction au nom et pour le compte de la personne morale. La personne morale peut révoquer son représentant permanent uniquement
si elle nomme simultanément son successeur. Une personne physique peut uniquement être le représentant permanent d’un
seul administrateur de la Société et ne peut être simultanément administrateur de la Société.
16.2 Chaque
administrateur peut être révoqué de ses fonctions à tout moment et sans motif par l’assemblée
générale des actionnaires.
16.3 Les administrateurs sont rééligibles indéfiniment.
16.4 Dans
l’hypothèse où un poste d’administrateur deviendrait vacant suite au décès, à l’incapacité
juridique, à la faillite, à la retraite ou autre, cette vacance pourra être comblée à titre temporaire
par les administrateurs restants jusqu’à la prochaine assemblée générale d’actionnaires, appelée
à statuer sur la nomination permanente.
Article 17. Convocation aux conseils d’administration
17.1 Le conseil d’administration
se réunit sur convocation valablement donnée par le président ou par deux (2) administrateurs au lieu défini
dans la convocation décrite dans le paragraphe ci-dessous.
17.2 Une
convocation écrite à toute réunion du conseil d’administration doit être adressée aux
administrateurs cinq (5) jours au moins avant la date prévue pour la réunion par écrit, par
télécopie, courrier électronique ou tout autre moyen de communication, sauf en cas d’urgence, auquel cas
la nature et les motifs de cette urgence devront être exposés dans la convocation. L'avis de convocation n'est pas
nécessaire dans le cas d’une renonciation à cette exigence de chaque administrateur par écrit par
courrier, télécopie, courrier électronique ou par tout autre moyen de communication, une copie de ce document
étant une preuve suffisante. De la même manière, aucune convocation préalable ne sera exigée pour
toute réunion du conseil d’administration dont l’heure et l’endroit auront été
déterminés dans une décision précédente adoptée par le conseil d’administration.
Aucune convocation préalable n’est également requise dans l’hypothèse où tous les membres du
conseil d’administration sont présents ou représentés à une réunion du conseil
d’administration où dans le cas où des décisions écrites auraient été
approuvées et signées par tous les membres du conseil d’administration.
Article 18. Conduite des réunions du conseil
d’administration
18.1 Le
président du conseil d’administration doit présider toute réunion du conseil d’administration. En cas
d’absence du président, le conseil d’administration peut nommer un autre administrateur en qualité de président
temporaire.
18.2 Le
conseil d’administration ne peut valablement délibérer ou statuer que si la majorité au moins des administrateurs
est présente ou représentée à une réunion du conseil d’administration.
18.3 Les
décisions sont prises à la majorité des voix des administrateurs présents ou représentés lors
de la réunion du conseil d’administration. En cas d’égalité des voix, le président du conseil
d’administration a une voix prépondérante. En cas d’absence du président du conseil d’administration,
l’administrateur qui aura été nommé président temporaire de la réunion ne dispose pas de voix
prépondérante.
18.4 Tout
administrateur peut participer à toute réunion du conseil d’administration en désignant comme mandataire un
autre membre du conseil d’administration par écrit, télécopie, courrier électronique ou tout autre moyen
similaire de communication. Tout administrateur peut représenter un ou plusieurs autres administrateurs.
18.5 Un
administrateur qui participe à une réunion du conseil d’administration, par conférence téléphonique,
vidéoconférence ou par tout autre moyen de communication autorisant les membres participant à de telles réunions
de s’entendre les uns les autres de manière continue et permettant une participation effective à ces réunions,
est considéré être présent et est pris en compte en matière de quorum et de majorité. La participation
à une réunion par ces moyens équivaudra à une participation en personne et la réunion devra être
considérée comme ayant été tenue au siège social de la Société.
18.6 Le
conseil d’administration peut à l’unanimité passer des décisions écrites qui auront la même
valeur que les décisions prises lors d’une réunion du conseil d’administration dûment convoquée
et tenue. De telles décisions écrites sont prises quand datées et signées par les administrateurs sur un document
ou sur plusieurs copies, une copie d'une signature envoyée par la poste, par télécopieur ou par un moyen de communication
similaire étant une preuve suffisante. Le document unique montrant toutes les signatures ou la totalité des documents signés,
le cas échéant, formeront l’instrument qui sera la preuve de l'adoption des résolutions et la date des décisions
sera la date de la dernière signature.
18.7 Le
secrétaire ou, si aucun secrétaire n'a été nommé, le président qui était présent
lors d'une réunion, dresse un procès-verbal de la réunion du conseil d'administration, qui doit être signé
par le président ou par le secrétaire, selon le cas, ou par deux administrateurs.
Article 19 Comité du conseil d’administration
Le conseil
d’administration peut créer un ou plusieurs comités, incluant sans limitation, un comité d’audit,
un comité de nomination et de gouvernance d'entreprise et un comité de rémunération, et pour lesquels il
doit, si un ou plusieurs de ces comités sont mis en place, nommer les membres qui peuvent, mais ne doivent pas
nécessairement, être des membres du conseil d'administration (toujours sous réserve, si les actions ordinaires
de la Société sont inscrites à une bourse étrangère, des exigences de cette bourse
étrangère applicables à la Société et / ou de l’autorité de régulation
compétente en relation avec cette cotation), déterminer le but, les pouvoirs et autorités ainsi que les
procédures et les autres règles qui leur seront applicables.
Article 20. Relations avec les tiers
La Société est
engagée à l’égard des tiers en toutes circonstances par (i) la signature du président du conseil
d’administration, (ii) la signature conjointe de deux (2) administrateurs ou (iii) par la signature conjointe ou
la signature unique de toute(s) personne(s) à laquelle (auxquelles) un tel pouvoir aura été délégué
par le conseil d’administration dans les limites d’une telle délégation.
Concernant les
matières relevant de la gestion journalière de la Société, la Société est engagée
à l’égard des tiers par la seule signature de (i) l’administrateur délégué ou du
délégué à la gestion journalière (le « Délégué à la gestion
journalière » ou « CEO »), (ii) le directeur financier (le « Directeur
Financier » ou « CFO ») ou (iii) toute(s) personne(s) à quelle (auxquelles) un
tel pouvoir en relation avec la gestion journalière de la Société aura été
délégué par le conseil d’administration, en accord avec l’article 15 ci-dessus, agissant
individuellement ou conjointement en accord avec les termes d’une telle délégation, si tant est qu’une
telle personne ait été nommée.
Article 21. Indemnisation
21.1 Les
membres du conseil d'administration ne sont pas tenus personnellement responsables des dettes ou d'autres obligations de la
Société. Comme mandataires de la Société, ils sont responsables de l’exercice de leurs fonctions.
Sous réserve des exceptions et limitations prévues à l'article 21.2 et des dispositions impératives de
la loi, toute personne qui est, ou a été, membre du conseil d' administration ou dirigeant de la Société
sera indemnisé par la Société, dans toute la mesure permise par la loi, contre toute responsabilité et
toutes les dépenses raisonnablement engagées ou payées par lui en rapport avec toute réclamation,
action, poursuite ou procédure dans lesquelles il est impliqué en tant que partie ou autre, pour être être
ou avoir été administrateur ou dirigeant, et les sommes payées ou engagées par lui dans le
règlement de celles-ci . Les mots «demande» , «action », «poursuite» ou
«procédure» s'appliqueront à toutes les demandes, actions, poursuites ou procédures (civiles,
pénales ou autres, y compris les appels) actuelles ou menacées et les mots « responsabilité
» et «dépenses» comprennent, sans limitation les frais d'avocat, les coûts, les jugements, les
montants payés en transaction et autres passifs.
21.2 Aucune
indemnisation ne sera due à tout administrateur ou dirigeant (i) contre toute responsabilité envers la Société
ou ses actionnaires en raison de fautes intentionnelles, de mauvaise foi, de négligence grave ou téméraire dans l’exercice
de sa fonction ( ii ) à l'égard de toute affaire dans laquelle il aura été finalement condamné pour
avoir agi de mauvaise foi et non dans l'intérêt de la Société ou ( iii ) dans le cas d' une transaction, à
moins que la transaction ait été approuvée par un tribunal compétent, ou par le conseil d'administration.
21.3 Le
droit à la présente d'indemnisation ici prévue est séparable, ne doit pas porter atteinte aux droits
dont tout administrateur ou dirigeant peut présentement ou plus tard avoir droit et doit continuer pour une personne qui a
cessé d'être administrateur ou dirigeant et bénéficiera aux héritiers, exécuteurs
testamentaires et administrateurs de cette personne. Aucune disposition des présents statuts ne peut affecter ou limiter les
droits à indemnisation dont le personnel, y compris les administrateurs et dirigeants, peuvent avoir droit par contrat ou
autrement en vertu de la loi. La Société est expressément habilitée à fournir une indemnisation
contractuelle et peut souscrire et maintenir une assurance pour tout le personnel, y compris les administrateurs et dirigeants de la
Société, comme elle peut le décider au fil du temps.
21.4 Les dépenses liées
à la préparation et la représentation d'une défense contre toute réclamation, action, poursuite ou
procédure ayant le caractère décrit dans cet article 21 seront avancées par la Société avant
toute décision finale sur réception de l’engagement par ou pour le compte d’un/de dirigeant(s) ou d’(un)administrateur(s),
de rembourser ce montant s'il est finalement déterminé qu'il n'a pas droit à une indemnisation en vertu du présent
article.
Article 22. Conflit d’intérêts
22.1 Tout
administrateur qui a, directement ou indirectement, lors d’une transaction soumise à l'approbation du conseil d'administration,
un intérêt qui est en conflit avec celui de la Société, doit informer le conseil d'administration de ce conflit
d'intérêts et doit faire enregistrer sa déclaration dans le procès-verbal de la réunion du conseil d’administration.
L’administrateur en question ne peut pas prendre part aux discussions et ne peut pas voter sur la transaction concernée.
Un rapport spécial sur les opérations dans lesquelles un des administrateurs aurait eu un intérêt opposé
à celui de la Société, doit être présenté lors de la prochaine assemblée générale
avant que toute résolution soit mise au vote.
22.2 Aucun
contrat ou autre transaction entre la Société et toute autre société ne sera affecté ou invalidé
par le fait qu'un ou plusieurs administrateurs ou dirigeants de la Société sont intéressés, ou sont administrateurs,
associés, dirigeants, agents, conseillers ou employés de cette autre société. Tout administrateur ou dirigeant
qui est administrateur, dirigeant ou employé ou autre de toute société avec laquelle la Société contractera
ou s’engage, ne doit pas, en raison de son appartenance à cette société, être empêché de
voter ou d’agir dans les matières à l'égard de tel contrat ou autre affaire.
E. AUDIT
ET SURVEILLANCE DE LA SOCIETE
Article 23. Auditeurs
23.1 Les
comptes annuels de la Société doivent être audités par unou plusieurs réviseurs d'entreprises
agréés, nommés par l'assemblée générale des actionnaires après recommandation du
conseil d'administration (agissant sur recommandation du comité d’audit, s’il existe). L'assemblée
générale des actionnaires fixe le nombre de réviseur(s) et la durée de leur mandat qui ne peut
excéder un (1) an et peut être renouvelé pour des périodes successives d'un (1) an.
23.2 Le réviseur peut
être révoqué à tout moment avec motif (ou avec son approbation) par l'assemblée générale
des actionnaires. Un auditeur peut être reconduit.
F. EXERCICE
SOCIAL – AFFECTATION DES BENEFICES – ACOMPTES SUR DIVIDENDES
Article 24. Exercice social
L’exercice social de
la Société commence le premier (1) janvier de chaque année et se termine le trente-et-un (31) décembre
de la même année.
Article 25. Comptes annuels - Affectation des
bénéfices
25.1 Au terme de chaque
exercice social, les comptes sont clôturés et le conseil d'administration dresse ou fait dresser un inventaire des
actifs et passifs de la Société, le bilan et le compte de profits et pertes conformément à la Loi.
25.2 Sur
les bénéfices annuels nets de la Société, cinq pour cent (5%) au moins seront affectés à
la réserve légale. Cette affectation cessera d'être obligatoire dès que le montant total de la
réserve légale de la Société atteindra dix pour cent (10%) du capital social de la
Société. Les sommes apportées à la Société par les actionnaires peuvent également
être affectées à la réserve légale. En cas de réduction du capital social, la
réserve légale de la Société pourra être réduite en proportion afin qu'elle n'excède
pas dix pour cent (10%) du capital social.
25.3 Sur
proposition du conseil d’administration, l'assemblée générale des actionnaires décidera de l’affectation
du solde du bénéfice net annuel.
25.4 Les
dividendes qui n'ont pas été réclamés dans les cinq (5) ans après la date à laquelle ils
sont devenus exigibles et payables reviennent à la Société.
Article 26. Acomptes sur dividendes
- Prime d'émission et primes assimilées
26.1 Le
conseil d’administration peut décider de distribuer des acomptes sur dividendes dans le respect des conditions prévues
par la Loi.
26.2 Toute
prime d'émission, prime assimilée ou autre réserve distribuable peuvent être librement distribuées aux
actionnaires (y compris par acomptes surdividendes) sous réserve des dispositions de la Loi et des présents statuts.
G. LIQUIDATION
Article 27. Liquidation
27.1 En
cas de dissolution de la Société, la liquidation sera effectuée par un ou plusieurs liquidateurs, personnes physiques
ou morales, nommés par l'assemblée générale des actionnaires ayant décidé la dissolution de
la Société et qui fixera les pouvoirs et émoluments de chacun des liquidateurs. Sauf dispositions contraires, le
liquidateur ou les liquidateurs disposeront des pouvoirs les plus étendus pour la réalisation de l’actif et le paiement
du passif de la Société.
27.2 Le
surplus résultant de la réalisation de l’actif et du paiement de l’ensemble des dettes sera réparti entre
les actionnaires en proportion du nombre des actions ordinaires qu'ils détiennent dans la Société.
H. LOI
APPLICABLE
Article 28. Loi applicable
Tout ce qui n’est pas régi par les
présents statuts sera déterminé en conformité avec la Loi.
STATUTS COORDONNES, délivrés à
la société sur sa demande.
Belvaux, le 30 mai 2024.
Exhibit
5.1
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To the Board of Directors of Globant S.A. |
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37A, avenue J.F. Kennedy, |
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L-1855 Luxembourg |
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Grand Duchy of Luxembourg |
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Luxembourg, 26 July 2024 |
| |
|
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Your ref.: / |
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Our ref.: 017966-70000/# 41613836 |
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serge.zeien@arendt.com |
| |
Tel.: +352 40 78 78 3108 |
GLOBANT S.A. – S-8 Registration
Statement – Validity of Shares
Dear Madam, Dear Sir,
We are acting as Luxembourg counsel
for Globant S.A., a société anonyme, having its registered office at 37A, avenue J.F. Kennedy, L-1855 Luxembourg,
Grand Duchy of Luxembourg, registered with the Luxembourg Trade and Companies Register (Registre de Commerce et des Sociétés
de Luxembourg) under number B 173727 (the “Company”), in connection with the Company’s filing of a registration
statement on Form S-8 with the U.S. Securities and Exchange Commission (the “Registration Statement”) relating to the
registration of two million (2,000,000) common shares of the Company, with a nominal value of $1.20 per share (the “2024 Plan
Shares”) to be issued or delivered under the Globant 2024 Equity Incentive Plan (the “Globant 2024 Equity Incentive
Plan”).
In arriving to the opinions expressed
below, we have examined and relied on the documents identified in Appendix A hereto as well as on such corporate records as have
been disclosed to us and such certifications made to us, which we deemed necessary and appropriate as a basis for the opinions hereinafter
expressed.
We have assumed for the purposes
hereof that the Company will at all times continue to have a sufficient authorized unissued share capital and sufficient authorized unissued
common shares with the relevant waivers in force, and that the Company will at all times have sufficient available reserves, to issue
the common shares to be issued under the Globant 2024 Equity Incentive Plan all or partially, as the case may be, by way of incorporation
of available reserves into the issued share capital. We further assume that the board of directors of the Company, or its duly authorized
delegates, will duly pass the relevant resolutions for the issue of the 2024 Plan Shares (including all or partially, as the case may
be, by way of incorporation of available reserves into the issued share capital), in accordance with the Restated Articles of Association
(as defined below), the terms of the Globant 2024 Equity Incentive Plan, the Resolutions (as defined below) and applicable law.
For the purposes of the present
opinion we have further assumed (i) the genuineness of all signatures, seals and stamps and that all documents reviewed are duly signed
by the persons purported to have signed them; (ii) the completeness and conformity to originals of all documents supplied to us as certified,
photostatic, scanned, electronically transmitted copies or other copies of the documents reviewed and the authenticity of the originals
of such documents and the conformity to originals of the latest drafts reviewed by us; (iii) that each of the documents is true, complete,
up-to-date and has not been rescinded or supplemented and there have been no amendments to the documents in the form delivered to us for
the purposes of this opinion; (iv) that there is no other resolutions, decisions, agreement or undertaking and no other arrangement (whether
legally binding or not) which renders any of the documents or information reviewed or provided to us inaccurate, incomplete or misleading
or which affects the conclusions stated in this opinion and that the documents reviewed accurately record the whole of the terms agreed
between the parties thereto relevant to this opinion; (v) that no proceedings have been instituted or injunction granted against the Company
to restrain it from performing any of its obligations under the Globant 2024 Equity Incentive Plan and/or issue the 2024 Plan Shares;
(vi) that the terms used in the documents reviewed carry the meaning ascribed to them in vernacular English; (vii) that the terms governing
the Globant 2024 Equity Incentive Plan are legal, valid and binding under their respective applicable laws; (viii) that the corporate
bodies of the Company have approved the terms of the Globant 2024 Equity Incentive Plan, pursuant to which the 2024 Plan Shares will be
issued, in accordance with applicable laws and that each resolution of the board of directors of the Company was properly adopted as reflected
in the Resolutions; the Resolutions were properly passed and each director has properly performed its duties; (ix) that upon issue of
any 2024 Plan Shares the Company will receive payment in cash of an issue price at least equal to the nominal value thereof; (x) that
the 2024 Plan Shares will be issued within the limits of the authorized share capital of the Company; (xi) that there will be no amendments
to the authorized share capital of the Company which would adversely affect the issue of the 2024 Plan Shares and the conclusions stated
in this opinion; (xii) that the head office (administration centrale), the place of effective management (siège de direction
effective), and, for the purposes of the regulation (EU) 2015/848 of the European Parliament and of the Council of 20 May 2015 on
insolvency proceedings (recast), the center of main interests (centre des intérêts principaux) of the Company are
located at the place of its registered office (siège statutaire) in Luxembourg; and (xiii) that during the search made on
the date hereof on the Luxembourg Trade and Companies Register (Registre de Commerce et des Sociétés de Luxembourg),
the information published with respect to the Company was complete, up-to-date and accurate at the time of such search and has not been
modified since such search.
We express no opinion as to any
laws other than the laws of the Grand Duchy of Luxembourg and this opinion is to be construed under Luxembourg law and is subject to the
exclusive jurisdiction of the courts of Luxembourg.
The
opinions expressed herein are subject to all limitations by reason of : the commencement of any insolvency proceedings such as
administrative dissolution without liquidation (dissolution administrative sans liquidation), bankruptcy (faillite), insolvency,
winding-up, liquidation, moratorium, suspension of payment (sursis de paiement), conciliation (conciliation), reorganisation
procedure in the form of a mutual agreement (réorganisation par accord amiable), judicial reorganisation proceedings in
the form of a mutual agreement (réorganisation judiciaire par accord amiable), a collective agreement (réorganisation
judiciaire par accord collectif) or a transfer by court order (réorganisation judiciaire par transfert par décision
de justice), fraudulent conveyance, general settlement with creditors, reorganisation or similar measures, orders or proceedings affecting
the rights of creditors generally.
Based on the foregoing, and having
regard for such legal considerations as we have deemed relevant, we are of the opinion that the 2024 Plan Shares, once duly subscribed,
fully paid and issued under the authorized share capital and in accordance with the Restated Articles of Association, the Resolutions,
and the Globant 2024 Equity Incentive Plan, will be validly issued, fully paid and non-assessable (within the meaning that the holder
of such shares shall not be liable, solely because of his or her or its shareholder status, for additional payments to the Company or
the Company’s creditors).
This opinion speaks as of the date
hereof and is subject to all limitations by reason of national or foreign bankruptcy, insolvency, winding-up, liquidation, moratorium,
controlled management, suspension of payment, voluntary arrangement with creditors, fraudulent conveyance, general settlement with creditors,
reorganization or similar laws affecting the rights of creditors generally. No obligation is assumed to update this opinion or to inform
any person of any changes of law or other matters coming to our knowledge and occurring after the date hereof which may affect the opinion
in any respect.
This opinion is issued solely for
the purposes of the filing of the Registration Statement and the issuance of the 2024 Plan Shares by the Company. It may not be used,
circulated, quoted, referred to or relied upon for any other purpose without our written consent in each instance. We hereby consent to
filing of this opinion as an exhibit to the Registration Statement. In giving such consent, we do not thereby admit that we are in the
category of persons whose consent is required under Section 7 of the U.S. Securities Act of 1933, as amended.
This opinion is issued by and signed
on behalf of Arendt & Medernach SA, admitted to practice in the Grand-Duchy of Luxembourg and registered on the list V of lawyers
of the Luxembourg bar association.
Yours faithfully,
By and on behalf of Arendt & Medernach
SA
/s/ Serge Zeien
Partner
APPENDIX
A – DOCUMENTS
| 1. | A copy of the updated articles of association of the Company as at 10 May 2024 (the
“Restated Articles of Association”). |
| 2. | A scanned copy of the signed written resolutions of the board of directors of the
Company dated 2 July 2024 approving, among others, the Globant 2024 Equity Incentive Plan (the “Resolutions”). |
| 3. | A scanned copy of the Globant 2024 Equity Incentive Plan
dated 2 July 2024, as attached as Exhibit A to the Resolutions. |
| 4. | A copy of the certificate of non-registration of a judicial decision or administrative dissolution
without liquidation (certificat de non-inscription d’une décision judiciaire ou de dissolution administrative sans
liquidation) in relation to the Company dated 26 July 2024 and issued in electronic form by the Registre de
l’Insolvabilité de Luxembourg maintained by and available on the website of the Luxembourg Trade and Companies
Register. |
| 5. | An excerpt dated 26 July 2024 in respect of the Company issued in electronic form by the Luxembourg
Trade and Companies Register. |
Exhibit 23.2
CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING
FIRM
We hereby consent to the incorporation
by reference in this Registration Statement on Form S-8 of Globant S.A. of our report dated February 29, 2024 relating to the
financial statements and the effectiveness of internal control over financial reporting, which appears in Globant S.A.’s Annual
Report on Form 20-F for the year ended December 31, 2023.
| /s/ PRICE WATERHOUSE & CO. S.R.L. |
|
| |
|
| |
|
| /s/ Reinaldo Sergio Cravero (Partner) |
|
| Autonomous City of Buenos Aires, Argentina |
|
| July 26, 2024 |
|
Exhibit 99.1
GLOBANT S.A.
2024 EQUITY INCENTIVE PLAN
1. Establishment,
Purpose and Types of Awards
GLOBANT
S.A., a société anonyme incorporated under the laws of the Grand Duchy of Luxembourg, having its registered office
at 37A, Avenue J.F. Kennedy, L-1855 Luxembourg, registered with the Luxembourg trade and companies register under number B 173 727 (the
“Company”), hereby establishes the GLOBANT S.A. 2024 EQUITY INCENTIVE PLAN (the “Plan”).
The purpose of the Plan is to promote the long-term growth and profitability of the Company by (i) providing key people with
incentives to improve stockholder value and to contribute to the growth and financial success of the Company through their future services,
and (ii) enabling the Company to attract, retain and reward the best-available personnel.
The Plan permits the granting
of stock options, stock appreciation rights, restricted or unrestricted stock awards, restricted or unrestricted stock units, performance
awards, other stock-based awards, or any combination of the foregoing.
2. Definitions
Under this Plan, except where
the context otherwise indicates, the following definitions apply:
(a) “Administrator”
means the Board or the committee(s) or officer(s) appointed by the Board from time-to-time that have authority to administer
the Plan as provided in Section 3 hereof.
(b) “Affiliate”
means any entity, whether now or hereafter existing, which controls, is controlled by, or is under common control with, the Company (including,
but not limited to, joint ventures, limited liability companies, and partnerships). For this purpose, “control” shall
mean ownership of 50% or more of the total combined voting power or value of all classes of stock or interests of the entity, or the power
to direct the management and policies of the entity, by contract or otherwise.
(c) “Award”
means any stock option, stock appreciation right, stock award, stock unit award, performance award, or other stock-based award.
(d) “Board”
means the board of directors of the Company as composed from time-to-time.
(e) “Change
in Control” means: (i) the acquisition (other than from the Company) in one or more transactions by any Person, as
defined in this Section 2(e), of the beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Securities
Exchange Act of 1934, as amended) of more than 50% of (A) the then outstanding shares of the Company, or (B) the combined voting
power of the then outstanding securities of the Company entitled to vote generally in the election of directors (the “Company
Voting Stock”); (ii) the closing of a sale or other conveyance of all or substantially all of the assets of the Company;
or (iii) the effective time of any merger, share exchange, consolidation, or other business combination involving the Company if
immediately after such transaction persons who hold a majority of the outstanding voting securities entitled to vote generally in the
election of directors of the surviving entity (or the entity owning 100% of such surviving entity) are not persons who, immediately prior
to such transaction, held the Company Voting Stock; provided, however, that a Change in Control shall not include any consolidation
or merger effected exclusively to change the domicile of the Company or a public offering of capital stock of the Company, and provided
also that that for purposes of any Award or subplan that constitutes a “nonqualified deferred compensation plan,” within
the meaning of Code section 409A, the Administrator, in its discretion, may specify a different definition of Change in Control in order
to comply with the provisions of Code section 409A. For purposes of this Section 2(e), a “Person” means
any individual, entity or group within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934,
as amended, other than: employee benefit plans sponsored or maintained by the Company and by entities controlled by the Company or an
underwriter of the Common Shares in a registered public offering.
(f) “Code”
means the Internal Revenue Code of 1986, as amended, and any regulations promulgated thereunder.
(g) “Common
Shares” means the common shares of the Company at Par Value.
(h) “Fair
Market Value” means, with respect to the Common Shares, as of any date:
(i) if
the principal market for the Common Shares (as determined by the Administrator if the Common Shares is listed or admitted to trading on
more than one exchange or market) is a national securities exchange or an established securities market, the official closing price
per Common Share for the regular market session on that date on the principal exchange or market on which the Common Shares are then listed
or admitted to trading or, if no sale is reported for that date, on the last preceding day on which a sale was reported;
(ii) if
the principal market for the Common Shares is not a national securities exchange or an established securities market, the average of the
highest bid and lowest asked prices for the Common Shares on that date as reported on a national quotation system or, if no prices are
reported for that date, on the last preceding day on which prices were reported; or
(iii) if
the Common Shares are neither listed or admitted to trading on a national securities exchange or an established securities market, nor
quoted by a national quotation system, the value determined by the Administrator in good faith by reasonable application of a reasonable
valuation method.
(i) “Grant
Agreement” means a written document, including an electronic writing acceptable to the Administrator, memorializing the
terms and conditions of an Award granted pursuant to the Plan and which shall incorporate the terms of the Plan.
(j) “Par
Value” means the par value of the Common Shares from time-to-time.
3. Administration
(a) Administration
of the Plan. The Plan shall be administered by the Board or by such committee or committees as may be appointed by the Board from
time-to-time. To the extent allowed by applicable laws, the Board by resolution may authorize an officer or officers to grant Awards to
other officers and employees of the Company and its Affiliates, or to act on behalf of the Board with respect to the authority delegated
to the officer or officers with respect to the administration of the Plan, and, to the extent of such authorization, such officer or officers
shall be the Administrator.
(b) Powers
of the Administrator. The Administrator shall have all the powers vested in it by the terms of the Plan and the resolution of the
Board, such powers to include authority, in its sole and absolute discretion, to grant Awards under the Plan, prescribe Grant Agreements
evidencing such Awards and establish programs for granting Awards.
The Administrator
shall have full power and authority to take all other actions necessary to carry out the purpose and intent of the Plan, including, but
not limited to, the authority to: (i) determine the eligible persons to whom, and the time or times at which Awards shall be granted;
(ii) determine the types of Awards to be granted; (iii) determine the number of shares to be covered by or used for reference
purposes for each Award; (iv) impose such terms, limitations, restrictions and conditions upon any such Award as the Administrator
shall deem appropriate; (v) modify, amend, extend or renew outstanding Awards, or accept the surrender of outstanding Awards and
substitute new Awards, including any such modification, amendment or substitution that results in repricing the Award (provided however,
that, except as provided in Section 7 of the Plan, any modification that would materially adversely affect any outstanding Award
shall not be made without the consent of the holder); (vi) accelerate or otherwise change the time in which an Award may be exercised
or becomes payable and to waive or accelerate the lapse, in whole or in part, of any restriction or condition with respect to such Award,
including, but not limited to, any restriction or condition with respect to the vesting or exercisability of an Award following termination
of any grantee’s employment or other relationship with the Company; (viii) establish objectives and conditions, if any, for
earning Awards and determining whether Awards will be paid with respect to a performance period; and (viii) for any purpose, including
but not limited to, qualifying for preferred tax treatment under foreign tax laws or otherwise complying with the regulatory requirements
of local or foreign jurisdictions, to establish, amend, modify, administer or terminate sub-plans, and prescribe, amend and rescind rules and
regulations relating to such sub-plans.
The Administrator
shall have full power and authority, in its sole and absolute discretion, to administer, construe and interpret the Plan, Grant Agreements
and all other documents relevant to the Plan and Awards issued thereunder, to establish, amend, rescind and interpret such rules, regulations,
agreements, guidelines and instruments for the administration of the Plan and for the conduct of its business as the Administrator deems
necessary or advisable, and to correct any defect, supply any omission or reconcile any inconsistency in the Plan or in any Award in the
manner and to the extent the Administrator shall deem it desirable to carry it into effect.
(c) Non-Uniform
Determinations. The Administrator’s determinations under the Plan (including without limitation, determinations of the persons
to receive Awards, the form, amount and timing of such Awards, the terms and provisions of such Awards and the Grant Agreements evidencing
such Awards, and the ramifications of a Change in Control upon outstanding Awards) need not be uniform and may be made by the Administrator
selectively among Awards or persons who receive, or are eligible to receive, Awards under the Plan, whether or not such persons are similarly
situated.
(d) Limited
Liability. To the maximum extent permitted by law, no member of the Administrator shall be liable for any action taken or decision
made in good faith relating to the Plan or any Award thereunder.
(e) Indemnification.
To the maximum extent permitted by law and by the Company’s articles of association, the members of the Administrator shall be indemnified
by the Company in respect of all their activities under the Plan except in the case of gross negligence or willful misconduct.
(f) Effect
of Administrator’s Decision. All actions taken and decisions and determinations made by the Administrator on all matters relating
to the Plan pursuant to the powers vested in it hereunder shall be in the Administrator’s sole and absolute discretion and shall
be conclusive and binding on all parties concerned, including the Company, its stockholders, any participants in the Plan and any other
employee, consultant, or director of the Company, and their respective successors in interest.
4. Shares
Available for the Plan
Subject to adjustments as
provided in Sections 4(b) and 7(d) of the Plan, the Common Shares that may be issued with respect to Awards granted under
the Plan shall not exceed an aggregate of 2,000,000 shares. Subject to the provisions of the law, the Company shall maintain an authorized
capital comprising such number of shares for Awards under the Plan, subject to adjustments as provided in Section 7(d) of the
Plan. If any Award, or portion of an Award, under the Plan expires or terminates unexercised, becomes unexercisable, is settled in cash
without delivery of Common Shares, or is forfeited or otherwise terminated or canceled as to any shares, the shares subject to such Award
shall thereafter be available for further Awards under the Plan. Notwithstanding anything herein to the contrary, shares used to pay the
exercise price of an Award or tax obligations shall not be available again for other Awards under the Plan.
5. Participation
Participation in the Plan
shall be open to all employees, officers, and directors of, and other individuals providing bona fide services to or for, the Company,
or of any Affiliate of the Company, as may be selected by the Administrator from time-to-time. The Administrator may also grant Awards
to individuals in connection with hiring, recruiting or otherwise, prior to the date the individual first performs services for the Company
or an Affiliate, provided that such Awards shall not become vested or exercisable, and no shares shall be issued to such individual, prior
to the date the individual first commences performance of such services.
6. Awards
The Administrator, in its
sole discretion, establishes the terms of all Awards granted under the Plan. Awards may be granted individually or in tandem with other
types of Awards, concurrently with or with respect to outstanding Awards. All Awards are subject to the terms and conditions provided
in the Grant Agreement.
(a) Stock
Options. The Administrator may from time-to-time grant to eligible participants Awards of nostatutory stock options. Options must
have an exercise price at least equal to Fair Market Value as of the date of grant to the extent required to comply with Code section
409A (if applicable), provided that all options must have an exercise price that is not lower than Par Value. Options may not have a term
in excess of ten years’ duration.
(b) Stock
Appreciation Rights. The Administrator may from time-to-time grant to eligible participants Awards of Stock Appreciation Rights (“SAR”).
An SAR entitles the grantee to receive, subject to the provisions of the Plan and the Grant Agreement, a payment having an aggregate value
equal to the product of (i) the excess of (A) the Fair Market Value on the exercise date of one Common Share over (B) the
base price per share specified in the Grant Agreement, times (ii) the number of shares specified by the SAR, or portion thereof,
which is exercised. The base price per share specified in the Grant Agreement shall not be less than the lower of the Fair Market Value
on the grant date (but in no case lower than Par Value) or the exercise price of any tandem stock option Award to which the SAR is related.
No SAR shall have a term longer than ten years’ duration. Payment by the Company of the amount receivable upon any exercise of an
SAR may be made by the delivery of Common Shares or cash, or any combination of Common Shares and cash, as determined in the sole discretion
of the Administrator. If upon settlement of the exercise of an SAR a grantee is to receive a portion of such payment in Common Shares,
the number of shares shall be determined by dividing such portion by the Fair Market Value of a Common Share on the exercise date, it
being understood that no Common Shares shall be issued below Par Value. No fractional shares shall be used for such payment and the Administrator
shall determine whether cash shall be given in lieu of such fractional shares or whether such fractional shares shall be eliminated. The
Administrator shall obtain a report from an independent auditor (réviseur d’entreprises agréé) confirming
that the in-kind consideration upon exercise of a SAR has a value at least equivalent to the number and value of Shares issued in counterpart.
(c) Stock
and Stock Unit Awards. The Administrator may from time-to-time grant stock awards or stock unit awards to eligible participants in
such amounts, on such terms and conditions, and for such consideration, including no consideration or such minimum consideration as may
be required by law, as it shall determine. A stock award may be denominated in Common Shares or other securities, stock-equivalent units
or restricted stock units, securities or debentures convertible into Common Shares, or any combination of the foregoing and may be paid
in Common Shares or other securities, in cash, or in a combination of Common Shares or other securities and cash, all as determined in
the sole discretion of the Administrator.
(d) Performance
Awards. The Administrator may, in its discretion, grant performance awards which become payable on account of attainment of one or
more performance goals or other conditions established by the Administrator. Performance awards may be paid by the delivery of Common
Shares or cash, or any combination of Common Shares and cash, as determined in the sole discretion of the Administrator. Performance goals
established by the Administrator may be based on the Company’s or an Affiliate’s one or more financial, business or other
criteria selected by the Administrator that apply to an individual or group of individuals, a business unit, or the Company or an Affiliate
as a whole, over such performance period as the Administrator may designate.
(e) Other
Stock-Based Awards. The Administrator may from time-to-time grant other stock-based awards to eligible participants in such amounts,
on such terms and conditions, and for such consideration, including no consideration or such minimum consideration as may be required
by law, as it shall determine. Other stock-based awards may be denominated in cash, in Common Shares or other securities, in stock-equivalent
units, in options, in stock appreciation units, in securities or debentures convertible into Common Shares, or in any combination of the
foregoing and may be paid in Common Shares or other securities, in cash, or in a combination of Common Shares or other securities and
cash, all as determined in the sole discretion of the Administrator.
7. Miscellaneous
(a) Withholding
of Taxes. Grantees and holders of Awards shall pay to the Company or its Affiliate, or make provision satisfactory to the Administrator
for payment of, any taxes required to be withheld in respect of Awards under the Plan no later than the date of the event creating the
tax liability. The Company or its Affiliate may, to the extent permitted by law, deduct any such tax obligations from any payment of any
kind otherwise due to the grantee or holder of an Award. In the event that payment to the Company or its Affiliate of such tax obligations
is made in Common Shares, such shares shall be valued at Fair Market Value on the applicable date for such purposes and shall not exceed
in amount the minimum statutory tax withholding obligation.
(b) Loans.
To the extent otherwise permitted by law, the Company or its Affiliate may make or guarantee loans to grantees to assist grantees in exercising
Awards and satisfying any withholding tax obligations.
(c) Transferability.
Except as otherwise determined by the Administrator, , no Award granted under the Plan shall be transferable by a grantee otherwise than
by will or the laws of descent and distribution. Unless otherwise determined by the Administrator in accord with the provisions of the
immediately preceding sentence, an Award may be exercised during the lifetime of the grantee, only by the grantee or, during the period
the grantee is under a legal disability, by the grantee’s guardian or legal representative.
(d) Adjustments
for Corporate Transactions and Other Events.
| (i) | Stock Dividend, Stock Split and Reverse Stock Split. In the event of a stock dividend of, or stock
split or reverse stock split affecting, the Common Shares, (A) the maximum number of shares of such Common Shares as to which Awards
may be granted under this Plan, as provided in Section 4 of the Plan, and (B) the number of shares covered by and the exercise
price and other terms of outstanding Awards, shall, without further action of the Board, be adjusted to reflect such event. The Administrator
may make adjustments, in its discretion, to address the treatment of fractional shares and fractional cents that arise with respect to
outstanding Awards as a result of the stock dividend, stock split or reverse stock split. |
| (ii) | Non-Change in Control Transactions. Except with respect to the transactions set forth in Section 7(d)(i),
in the event of any change affecting the Common Shares, the Company or its capitalization, by reason of a spin-off, split-up, dividend,
recapitalization, merger, consolidation or share exchange, other than any such change that is part of a transaction resulting in a Change
in Control of the Company, the Administrator, in its discretion and without the consent of the holders of the Awards, may make (A) appropriate
adjustments to the maximum number and kind of shares reserved for issuance or with respect to which Awards may be granted under the Plan,
in the aggregate, as provided in Section 4 of the Plan; and (B) any adjustments in outstanding Awards, including but not limited
to modifying the number, kind and price of securities subject to Awards as the Administrator determines to be appropriate and equitable. |
| (iii) | Change in Control Transactions. In the event of any transaction resulting in a Change in Control
of the Company, except otherwise determined by the Administrator at the time of grant or in the Grant Agreement evidencing such Award,
outstanding stock options and other Awards that are payable in or convertible into Common Shares under this Plan will terminate upon the
effective time of such Change in Control unless provision is made in connection with the transaction for the continuation or assumption
of such Awards by, or for the substitution of the equivalent awards, as determined in the sole discretion of the Administrator, of, the
surviving or successor entity or a parent thereof. In the event of such termination, the holders of stock options and other Awards under
the Plan will be permitted, immediately before the Change in Control, to exercise or convert all portions of such stock options or other
Awards under the Plan that are then exercisable or convertible or which become exercisable or convertible upon or prior to the effective
time of the Change in Control. |
| (iv) | Unusual or Nonrecurring Events. The Administrator is authorized to make, in its discretion and
without the consent of holders of Awards, adjustments in the terms and conditions of, and the criteria included in, Awards in recognition
of unusual or nonrecurring events affecting the Company, or the financial statements of the Company or any Affiliate, or of changes in
applicable laws, regulations, or accounting principles, whenever the Administrator determines that such adjustments are appropriate in
order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan. |
(e) Substitution
of Awards in Mergers and Acquisitions. Awards may be granted under the Plan from time-to-time in substitution for awards held by employees,
officers, consultants or directors of entities who become or are about to become employees, officers, consultants or directors of the
Company or an Affiliate as the result of a merger or consolidation of the employing entity with the Company or an Affiliate, or the acquisition
by the Company or an Affiliate of the assets or stock of the employing entity. The terms and conditions of any substitute Awards so granted
may vary from the terms and conditions set forth herein to the extent that the Administrator deems appropriate at the time of grant to
conform the substitute Awards to the provisions of the awards for which they are substituted.
(f) Other
Agreements. As a condition precedent to the grant of any Award under the Plan, the exercise pursuant to such an Award, or to the delivery
of certificates for shares issued pursuant to any Award, the Administrator may require the grantee or the grantee’s successor or
permitted transferee, as the case may be, to become a party to a stock restriction agreement, shareholders’ agreement, voting trust
agreement or other agreements regarding the Common Shares of the Company in such form(s) as the Administrator may determine from
time-to-time.
(g) Termination,
Amendment and Modification of the Plan. The Board may terminate, amend or modify the Plan or any portion thereof at any time. Except
as otherwise determined by the Board, termination of the Plan shall not affect the Administrator’s ability to exercise the powers
granted to it hereunder with respect to Awards granted under the Plan prior to the date of such termination.
(h) Non-Guarantee
of Employment or Service. Nothing in the Plan or in any Grant Agreement thereunder shall confer any right on an individual to continue
in the service of the Company or shall interfere in any way with the right of the Company to terminate such service at any time with or
without cause or notice and whether or not such termination results in (i) the failure of any Award to vest; (ii) the forfeiture
of any unvested or vested portion of any Award; and/or (iii) any other adverse effect on the individual’s interests under the
Plan.
(i) Compliance
with Securities Laws; Listing and Registration. If at any time the Administrator determines that the delivery of Common Shares under
the Plan is or may be unlawful under the laws of any applicable jurisdiction, or Federal, state or foreign securities laws, the right
to exercise an Award or receive Common Shares pursuant to an Award shall be suspended until the Administrator determines that such delivery
is lawful. If at any time the Administrator determines that the delivery of Common Shares under the Plan is or may violate the rules of
the national exchange on which the shares are then listed for trade, the right to exercise an Award or receive Common Shares pursuant
to an Award shall be suspended until the Administrator determines that such delivery would not violate such rules. The Company shall have
no obligation to effect any registration or qualification of the Common Shares under Federal, state or foreign laws.
The Company may require
that a grantee, as a condition to exercise of an Award, and as a condition to the delivery of any share certificate, make such written
representations (including representations to the effect that such person will not dispose of the Common Shares so acquired in violation
of Federal, state or foreign securities laws) and furnish such information as may, in the opinion of counsel for the Company, be appropriate
to permit the Company to issue the Common Shares in compliance with applicable Federal, state or foreign securities laws. The stock certificates
for any Common Shares issued pursuant to this Plan may bear a legend restricting transferability of the Common Shares unless such shares
are registered or an exemption from registration is available under the Securities Act of 1933, as amended, and applicable state or foreign
securities laws.
(j) No
Trust or Fund Created. Neither the Plan nor any Award shall create or be construed to create a trust or separate fund of any kind
or a fiduciary relationship between the Company and a grantee or any other person. To the extent that any grantee or other person acquires
a right to receive payments from the Company pursuant to an Award, such right shall be no greater than the right of any unsecured general
creditor of the Company.
(k) Clawback/Recovery.
All Awards granted under the Plan will be subject to recoupment in accordance with the clawback policy adopted by the Board on November 15,
2023, as amended and restated from time to time, while and to the extent it remains in effect, or with any other clawback or similar policy,
however denominated, that the Company is required to adopt pursuant to the listing standards of any national securities exchange or association
on which the Company’s securities are listed or as is otherwise required by any applicable law. In addition, the Board may impose
such other clawback, recovery or recoupment provisions in a Grant Agreement as the Board determines necessary or appropriate, including
but not limited to a reacquisition right in respect of previously acquired Common Shares or other cash or property upon the occurrence
of an event constituting cause, as such term may be defined in the Grant Agreement or any other written agreement between the Company
and the grantee. No recovery of compensation under such a clawback policy will be an event giving rise to a right to voluntary terminate
employment upon a “resignation for good reason,” or for a “constructive termination” or any similar term under
any plan of or agreement with the Company or an Affiliate.
(l) Governing
Law. The validity, construction and effect of the Plan, of Grant Agreements entered into pursuant to the Plan, and of any rules, regulations,
determinations or decisions made by the Administrator relating to the Plan or such Grant Agreements, and the rights of any and all persons
having or claiming to have any interest therein or thereunder, shall be determined exclusively in accordance with applicable United States
federal laws and the laws of the State of Delaware, without regard to its conflict of laws principles. Any dispute arising from the interpretation,
validity or performance of this Plan or any Grant Agreement or any of their terms and provisions shall be submitted to the courts of the
State of Delaware in the United States.
(m) Section 409A.
The Plan and all Awards granted hereunder are intended to comply with, or otherwise be exempt from, Code section 409A. The Plan and all
Awards granted under the Plan shall be administered, interpreted, and construed in a manner consistent with Code section 409A to the extent
necessary to avoid the imposition of additional taxes under Code section 409A(a)(1)(B). Should any provision of the Plan, any Award Agreement,
or any other agreement or arrangement contemplated by the Plan be found not to comply with, or otherwise be exempt from, the provisions
of Code section 409A, such provision shall be modified and given effect (retroactively if necessary), in the sole discretion of the Administrator,
and without the consent of the holder of the Award, in such manner as the Administrator determines to be necessary or appropriate to comply
with, or to effectuate an exemption from, Code section 409A. Notwithstanding anything in the Plan to the contrary, in no event shall the
Administrator exercise its discretion to accelerate the payment or settlement of an Award where such payment or settlement constitutes
deferred compensation within the meaning of Code section 409A unless, and solely to the extent that, such accelerated payment or settlement
is permissible under Treasury Regulation section 1.409A-3(j)(4) or any successor provision.
(n) Effective
Date; Termination Date. The Plan is effective as of the date on which the Plan is adopted by the Board. No Award shall be granted
under the Plan after the close of business on the day immediately preceding the tenth anniversary of the effective date of the Plan. Subject
to other applicable provisions of the Plan, all Awards made under the Plan prior to such termination of the Plan shall remain in effect
until such Awards have been satisfied or terminated in accordance with the Plan and the terms of such Awards.
PLAN APPROVAL
Date Approved by the Board: July 2, 2024
Exhibit 107
Calculation
of Filing Fee Tables
FORM S-8
(Form Type)
GLOBANT S.A.
(Exact Name of Registrant as Specified in its
Charter)
Table 1: Newly Registered Securities
Security
Type |
Security
Class Title (1) |
Fee
Calculation
Rule |
Amount
Registered(1) |
Proposed
Maximum
Offering Price
Per Unit(2) |
Maximum
Aggregate
Offering
Price(2) |
Fee
Rate |
Amount
of
Registration
Fee |
| Equity |
Common
shares, nominal value $1.20 per share |
Rule
457(c)
and
Rule 457(h) |
2,000,000 |
$191.57 |
$383,145,000 |
0.00014760 |
$56,552.20 |
| Total
Offering Amounts |
|
$383,145,000 |
|
$56,552.20 |
| Total
Fee Offsets |
|
|
|
-- |
| Net
Fee Due |
|
|
|
$56,552.20 |
| (1) | This registration statement on Form
S-8 covers 2,000,000 common shares, $1.20 par value per share (the “Common Shares”)
of Globant S.A. (the “Registrant”) which may be offered or sold under
the Globant S.A. 2024 Equity Incentive Plan (the “2024 Plan”). Pursuant
to Rule 416 under the Securities Act of 1933, as amended (the “Securities Act”),
this registration statement shall also cover any additional Common Shares, which become issuable
under the 2024 Plan by reason of any stock dividend, stock split, recapitalization or any
other similar transaction effected without the receipt of consideration which results in
an increase in the number of the Registrant’s outstanding Common Shares. Any Common
Shares covered by an award granted under the 2024 Plan (or portion of an award) that terminates,
expires or lapses for any reason will be deemed not to have been issued for purposes of determining
the maximum aggregate number of Common Shares that may be issued under the 2024 Plan. |
| (2) | Estimated solely for purposes of calculating
the registration fee pursuant to Rule 457(c) and (h) under the Securities Act. For shares
registered with respect to future awards to be granted under the 2024 Plan, the proposed
maximum offering price per share, proposed maximum aggregate offering price and the amount
of the registration fee are based on the average of the high and low prices of the Common
Shares reported on the New York Stock Exchange on July 24, 2024. |
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