Soitec's Voting Rights: A Closer Look at the Numbers

As of December 31, 2024, Soitec, a world leader in innovative semiconductor materials, has disclosed the total number of voting rights and shares forming its share capital. This information is crucial for investors and shareholders to understand the company's voting power dynamics and decision-making processes. Let's delve into the numbers and explore their implications.

Soitec has a total number of 35,726,462 ordinary shares with a par value of €2.00 each, listed on the Euronext Paris regulated market under ISIN code FR0013227113 and the mnemonic "SOI". The total number of theoretical voting rights is 45,644,921, and the total number of exercisable voting rights is 45,590,813.

The difference between exercisable and theoretical voting rights is due to the presence of shares without voting rights, such as treasury shares or liquidity contracts. This difference can impact the decision-making process and governance of Soitec in several ways:

1. Voting power and influence: The exercisable voting rights represent the actual voting power of shareholders, while the theoretical voting rights provide a broader perspective on the potential voting power. The difference between these two numbers can indicate the extent to which certain shareholders may have more influence in decision-making processes, as they may hold shares with double voting rights or have a higher proportion of exercisable voting rights.
2. Crossing shareholding thresholds: The theoretical voting rights are used as the basis for calculating the crossing of shareholding thresholds. This means that if a shareholder's stake reaches, exceeds, or falls below certain thresholds (e.g., 3%, 5%, 10%, etc.), they are required to disclose their holding. However, the exercisable voting rights are used to calculate the crossing of statutory thresholds. This difference can impact the timing and nature of disclosures made by shareholders, as well as the transparency of Soitec's shareholder structure.
3. Majority requirements: The exercisable voting rights are crucial for determining whether a shareholder has the majority required to pass resolutions at general meetings. The difference between exercisable and theoretical voting rights can impact the ability of shareholders to reach the required majority, as well as the potential for minority shareholders to exercise their rights.

In conclusion, the total number of voting rights and shares forming the share capital directly impacts the voting power and influence of shareholders in Soitec. The higher the number of shares and voting rights a shareholder owns, the more influence they have in decision-making processes. The presence of multiple voting rights can further concentrate voting power among certain shareholders, potentially allowing them to sway decisions at the general meeting. The difference between exercisable and theoretical voting rights can impact the decision-making process, governance, and transparency of Soitec. Investors and shareholders should be aware of these dynamics when evaluating Soitec's governance and decision-making processes.