Urgent action required by current and former employee Thales SA Shareholders

Dear Former and current Thales Employee Shareholders,

A French Law on dormant bank accounts and unclaimed life insurance policies, known as the "Eckert Law", has now come into force and immediate action is required for those that hold Thales SA shares (in the form of share units) in accounts with Amundi TC (www.amundi-ee.com, our share scheme administrators for shares received through the 2002 and 2008 employee share schemes).

Amundi TC informed Thales several days ago that under the new law they are obliged to close employee share schemes accounts that have had no activity for the past 10 years in less than two weeks’ time. The investment units would be sold, and the resulting funds transferred to the Caisse Des Depot (French Public Financial Institution).  Once the transfer has happened it is a very complex procedure to get the funds returned. Also, once the funds are with the CDC, if there was to be no further activity the funds will be forfeited to the French State after 20 years.

If Amundi TC does close the account and sell the units, a fee of 50% (not to exceed €60) will be deducted from the funds for the administration required for this transfer.

Amundi TC has already sent out notices to those affected to the address held on their system. However, we are not certain that they hold current details (Email and addresses) for all of those concerned.

If you have received shares (or believe that you did receive shares but have had no recent communications from Amundi) and still hold the shares (units), you can avoid this procedure by simply performing any transaction (A - below) or contacting Amundi TC (B – below) or contacting us (C – below).

A: Any transaction - as simple as logging into your account- on the website will suffice:

  1. visit www.amundi-ee.com and at the very bottom of the home page choose their language
  2. enter the username corresponding to the account number (col. B)
  3. enter the password or, if  they have forgotten it, click “I forgot my password” to receive a new one by SMS or by post.

B: If you doubt that your home address or mobile number is correct, you can contact Amundi TC by post or email them. In which case, you should send:

  1. A copy of your ID
  2. Your Amundi TC account number (col. B)


Address is: AMUNDI TC, TSA 40201, 26956 VALENCE CEDEX 9, FRANCE

Email is: customer.box@amundi-tc.com

C: – You can also send an e-mail to employee.shareholding@thalesgroup.com

 or michele.cook@uk.thalesgroup.com for further assistance.

Even if you believe that you have accessed your Amundi account within the last few years it would be good practice to log into your account at least once a year, starting straight away. Also if you know of any colleagues/former colleagues that might not know of this matter please contact them.

Please take action if in doubt,


Roger Hall
TUES Chairman 2 April 2017
Nothing contained in this website should be considered as advice of a financial, legal or other nature and any references to taxation is for guidance only.
Please note that the choice you make is a matter for you alone and Thales, TUES is not able to personally advise you on the merits or otherwise of deciding to participate in the Plan nor on any financial or tax aspects.  When considering what action you should take, you are recommended to seek your own independent financial advice from your own stockbroker, bank manager, solictor, accountant or other independent financial adviser authorised under the Financial Services and Markets Act 2000.

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