BMED.L Regulatory News (BMED)

More than 5 100 employees of BMCE Bank and fifteen of its subsidiaries have fully subscribed to the first tranche of 500 million dirhams relating to the capital increase of BMCE Bank reserved for its staff members totaling 1 billion dirhams, inclusive of share premium.

The participation rate reached therefore 86%. The offered shares were subscribed up to 87.4% during the period running from November 29 to December 6, 2010. The remaining shares were reallocated to 4 655 employees having exercised their oversubscription rights.

Approved by the Extraordinary General Meeting of Shareholders of November 10, 2010 and the regulatory authorities, this capital increase concerned the issue of 2 500 000 new shares, accounting for about 1.5% of the Bank's share capital, at a unit price of 200 dirhams, inclusive of share premium.

After the employee stock programs launched in 2003 and 2005, this new shares offering is part of a strategy, initiated by Chairman Othman Benjelloun, which aims at associating human capital with the benefits of growth of BMCE Bank Group.

The success of this participation program is a strong testimony of the employees' renewed trust in the Group's strategy and development prospects and their commitment to be mobilized to contribute to the achievement of an even outstanding consolidated performance.

 Following this capital increase, the share capital amounted to 1, 719, 633, 900 dirhams.

BMCE Bank Shareholding Structure

Moroccan shareholders

FinanceCom Group 33.55% 33.07%

RMA Watanya 28.33% 27.92%

FinanceCom PLC 4.68% 4.62%

SFCM 0.54% 0.53%

Caisse de Dépôts et de Gestion 9.26% 9.13%

MAMDA/MCMA 6.17% 6.08%

Foreign shareholders

Banque Fédérative du Crédit Mutuel 25.00% 24.64%

 Caja Mediterráneo 4.68% 4.62%

Banco Espirito Santo/ Pensoes 2.60% 2.56%

Other

BMCE Bank Employees 0.19% 1.64%