Kaufman & Broad SA : DESCRIPTION OF THE SHARE REPURCHASE PROGRAM
May 07 2018 - 2:05PM
Press release
PARIS, May 7 2018
DESCRIPTION
OF
THE SHARE REPURCHASE PROGRAM
-
Result of the previous
plan
Declaration of the operations realized on treasury
shares from May 11th,2017 until May 3rd, 2018
(covering the period starting the day following the assement of the
previous program was established and ending on May 2th,2018) :
Percentage of treasury shares in the capital owned directly and
indirectly (1) |
1.44% |
Number of
stocks cancelled in the last 24 months (2) |
947,136 |
Number of
shares owned in portfolio (1) |
304,063 |
Accounting value of the portfolio (1) |
9,604,759
euros |
Market
value of the portfolio (1) |
13,433,503.34 euros |
|
Amounted
gross flow (3) |
Positions
opened the day of the description of the repurchase program |
|
Buy |
Sales
/
Transfer |
Buy
positions |
Sales
positions |
|
Call
option bought |
Futures |
Put option
sold |
Forward
sale |
Number of
shares |
157,247 |
140,303 |
|
|
|
|
Average
maximum maturity |
|
|
|
|
|
|
Average
transaction price (3) |
39.65 |
40.35 |
|
|
|
|
Cash
transaction |
|
|
|
|
|
|
Amounts |
6,234,844 |
5,661,226 |
|
|
|
|
-
On April the 30th
2018
-
In the last 24 months prior to
April the 30th 2018
-
Covering the period starting
the day following the assement of the previous program was
established and ending on May 2th,2018. Transaction made as part of
block transactions or liquidity contract.
-
Allocation by objectives of
shares owned the day of the publication of the hereby document
:
Number of tresury shares owned
directly and indireclty : 304,063 representing 1,44 % of
the company capital.
Number of shares owned by objective :
-
Animation of the stock through a liquidity
contract AMAFI : 19,767
-
External growth operation: 68,164
-
Cover option plan for stock or other
employees'sharaholding system : 216,132
-
Coverage of securities giving right to
share attribution : 0
-
Cancellation : 0
-
New share repurchase
program
-
Program Authority:
Shareholders'Meeting on 3 May 2018
-
Securities covered :
Ordinary shares
-
Maximum proportion of the share
capital authorised for buyback : 10 % currently equivalent
to 2,107,354 shares. Given the number of shares already held and
amounting to 304,063 (1.44 % of the share capital), the
maximum number of additional shares that can be bought will be
1,803,291 shares (8,56 % of the share capital) unless the Company
sells or cancels the shares already held.
-
Maximum purchase
price: 55 euros
-
Objectives in decreasing order
of priority :
-
Stimulate the market or the liquidity of the
Company's shares through an investment service provider under a
liquidity agreement that complies with the AMAFI Ethics Charter
recognized by the AMF,
-
Acquire shares to be held and subsequently
delivered in payment or exchanged as part of corporate acquisition
transactions,
-
Award or transfer stock to employees and/or
corporate officers ( on the terms and in the manner provided for by
law) in particular as part of a stock option plan, a bonus share
award plan or a company savings plan,
-
Award stock by the delivery of shares when
exercising the rights attached to securities giving the right via
redemption, conversion, exchange or presentation of a warrant, or
in any other way, to an allocation of the Company's stock,
-
Potentially cancel the shares acquired, subject
to adoption of the seventeenth extraordinary resolution appearing
on the agenda for today's Shareholder's Meeting,
This press release
is available on the www.kaufmanbroad.fr website
Contacts
Chief Financial Officer
Bruno Coche
+33 (1) 41 43 44 73
Infos-invest@ketb.com
|
Media relations:
Hopscotch Capital: Violaine Danet
+33 (1) 58 65 00 77 / k&b@hopscotchcapital.fr
|
|
Kaufman & Broad : Emmeline Cacitti
06 72 42 66 24 / ecacitti@ketb.com
|
|
|
About Kaufman
& Broad - Kaufman & Broad has been designing,
building, and selling single-family homes in communities,
apartments, and offices on behalf of third parties for 50 years.
Kaufman & Broad is one of the leading French
developers-builders due to the combination of its size and
profitability, and the strength of its brand.
The Kaufman &
Broad Registration Document was filed with the French Financial
Markets Authority ("AMF") under No. D.18 0226 on March
29, 2018. It is available on the AMF
(www.amf-france.org) and Kaufman & Broad
(www.kaufmanbroad.fr) websites. It contains a
detailed description of Kaufman & Broad's business activities,
results, and outlook, as well as the associated risk factors.
Kaufman & Broad specifically draws attention to the risk
factors set out in Chapter 1.2 of the Registration Document. The
occurrence of one or more of these risks might have a material
adverse impact on the Kaufman & Broad group's business
activities, net assets, financial position, results, and outlook,
as well as on the price of Kaufman & Broad's
shares.
This press release does not amount to, and cannot
be construed as amounting to a public offering, a sale offer or a
subscription offer, or as intended to seek a purchase or
subscription order in any country.
Description of the Share repurchase
program
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Kaufman & Broad SA via Globenewswire
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