We recently translated into English a practical guide for the shareholders of a well-known French company specializing in the manufacture of writing instruments.
đź“‘ Clearly informing shareholders of their obligations
The document was designed to explain, in a clear and accessible way, the rules applicable when franchissements de seuil occur under French securities law.
These situations arise when a shareholder’s stake in the share capital or voting rights exceeds (or falls below) certain thresholds set by:
Such franchissements de seuil trigger obligations to file a declaration with the Autorité des marchés financiers (AMF), and may even require the launch of a mandatory bid.
⚖️ Translating securities law for a non-lawyer audience
The main challenge of this project was to render rigorous legal content while maintaining an accessible and pedagogical tone for readers without specialist knowledge.
We paid particular attention to accurately conveying concepts such as:
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action de concert (acting in concert),
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rachat d’actions (buyback of shares),
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and their implications for corporate governance and market transparency.
đź“Ś Key contextual equivalents in this project
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actionnaires → shareholders
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franchissement de seuil → exceeding a threshold
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obligations de déclaration → holding notification requirements
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action de concert → acting in concert
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offre publique obligatoire → mandatory bid
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rachat d’actions → buyback of shares
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AMF → French Financial Market Authority
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âť“ FAQ: translating a French securities-law guide on franchissements de seuil
What does franchissement de seuil mean in French securities law?
It is the point at which a shareholder's stake in the share capital or voting rights rises above or falls below thresholds set by statute, AMF rules, or the company's articles of association. The translated guide explained these duties to ordinary shareholders.
What was the core challenge of this assignment?
Keeping legal rigour while staying accessible to non-lawyer readers. Concepts such as action de concert (acting in concert) and offre publique obligatoire (mandatory bid) had to remain exact yet readable for a general shareholder audience.
How are action de concert and rachat d'actions handled?
They become acting in concert and buyback of shares, both standard in financial English. Acting in concert matters because coordinated holdings can trigger a mandatory bid, so its equivalent must be precise rather than approximate.
