Sodexo S.A. received in December 2021 a notification for a proposed tax reassessment concerning fiscal years 2016, 2017 and 2018. Another proposed adjustment notice was issued by the French tax authorities in December 2022 for fiscal years 2019, 2020 and 2021 in order to replicate certain adjustments it had initiated during the previous tax audit.
The Company has assessed the risk associated with these procedures and, after review with its tax advisors, considers that it has strong arguments to contest the proposed reassessments.
| AUGUST 31, 2023 | AUGUST 31, 2022 | |
|---|---|---|
| Managers | Managers AUGUST 31, 2023 482 |
Managers AUGUST 31, 2022 455 |
| Supervisors | Supervisors AUGUST 31, 2023 12 |
Supervisors AUGUST 31, 2022 15 |
| Other | Other AUGUST 31, 2023 2 |
Other AUGUST 31, 2022 4 |
| Apprentices | Apprentices AUGUST 31, 2023 15 |
Apprentices AUGUST 31, 2022 13 |
| TOTAL | TOTAL AUGUST 31, 2023 511 |
TOTAL AUGUST 31, 2022 487 |
The average number of employees is an average of the number of employees present at the end of each quarter.
Sodexo S.A. is consolidated in the financial statements of Bellon SA, which has its registered office at 17-19, place de la Résistance, Issy-les-Moulineaux, France. The consolidated financial statements of the Sodexo Group are presented in chapter 4 of this Universal Registration Document.
In July 2023 In July 2023 the Company launched a consent solicitation process relating to its 4.4 billion euros of outstanding EUR and GBP bonds, in order to seek certain approvals and waivers to proceed with the proposed spin-off of the Benefits & Rewards Services activity (Pluxee). The proposal was approved in relation to 7 out of the 8 bonds series. The consent solicitation in relation to the 300 million euros 1.125% bonds due May 22, 2025 (the “May 2025 Bonds”) was terminated and, on October 25, 2023, the Board of Directors decided to redeem the May 2025 Bonds and publish the make-whole redemption notice on October 26, 2023. Sodexo will redeem the total aggregate principal amount of the May 2025 Bonds outstanding on November 10, 2023.
On September 1st, 2023, Sodexo S.A. contributed to Sodexo Asset Management 2, by way of contribution in kind, 22,610,263 shares of Pluxee International representing 88.05% of its capital and voting rights. At the end of this operation, Sodexo Asset Management 2 therefore holds 100% of the capital and voting rights of Pluxee International.
