BIC LAUNCHES ITS SECOND ESG SHARE BUYBACK PROGRAM
January 21 2022 - 12:24PM
BIC LAUNCHES ITS SECOND ESG SHARE BUYBACK PROGRAM
FOR IMMEDIATE
RELEASE
BIC LAUNCHES ITS
SECOND ESG SHARE BUYBACK
PROGRAM
Clichy,
France – January
21, 2022 – BIC
announces today the launch of a 40 million euros ESG Share Buyback
program1. The purchase period will start on Monday, January 24,
2022, and end on December 22, 2022, at the latest. The maximum
purchase price per share shall not exceed 100 euros.
Exane BNP Paribas will execute the program under the
authorization granted by SOCIETE BIC Annual Shareholder Meeting on
May 19, 2021, and under the Market Abuse Regulation ("MAR") and the
Commission Delegated Regulation (the "Safe Harbour
Regulation").
This program, the second of its kind for the Group, is aligned
with BIC's Corporate Responsibility Program, and its vision and
mission to create and share value with all stakeholders. The
outperformance2 in purchasing the share over the program's
execution will be allocated to the Abdul Latif Jameel Poverty
Action Lab (J-PAL) to support research programs related to
Education, and the BIC Corporation Foundation for Education.
"I am thrilled to renew BIC's partnership with Exane BNP Paribas
and J-PAL. This second innovative ESG share buyback program is
further demonstration of BIC's long-term commitment to improving
lives through Education, and building a better future for millions
of children around the world' said
Gonzalve Bich,
BIC's
Chief Exective
Officer. "J-PAL's research on effective tutoring
and parent engagement programs that we began supporting in 2021
through our first ESG share buyback will help identify and develop
innovative and more inclusive education models. I look forward to
strengthening our collaboration with J-PAL's teams in Europe and
the U.S. and building on our first partnership."
Approved by BIC's Board of Directors, the program is consistent
with BIC's Capital Allocation Policy, which is comprised of:
- investments into operations to
sustain organic growth
- targeted acquisitions to strengthen
existing activities and develop in adjacent categories,
- Sustainable
return to Shareholders, with an objective of ordinary dividend
pay-out ratio in the range of 40% to 50% of Normalized EPS, and
regular share buybacks.
##
CONTACT
Sophie
Palliez-CapianVP, Corporate Stakeholder Engagement+33 1 45 19 55
28+ 33 6 87 89 3351Sophie.palliez@bicworld.com Michèle
VenturaSenior Manager, Investor Relations+ 33 1 45 19 52
98Michele.ventura@bicworld.com |
Albane de La Tour
d’Artaise Senior Manager, Institutional Press Relations+ 33 1 45 19
51 51+ 33 7 85 88 19 48Albane.DeLaTourDArtaise@bicworld.com
Isabelle de Segonzac Image 7+ 33 6 89 87 61
39isegonzac@image7.fr |
2021/2022
AGENDA
ALL DATES TO BE CONFIRMED
FY 2021 Results |
February 15, 2022 |
1st Quarter 2022 Results |
April 26, 2022 |
2022 Annual General Meeting |
18 May, 2022 |
1st Half
2022 Results |
August 2, 2022 |
3rd Quarter 2022
Results |
October 27, 2022 |
ABOUT BIC
A world leader in stationery, lighters and shavers, BIC brings
simplicity and joy to everyday life. For more than 75 years, the
Company has honored the tradition of providing high-quality,
affordable, essential products to consumers everywhere. Through
this unwavering dedication, BIC has become one of the most
recognized brands and is a trademark registered worldwide. Today,
BIC products are sold in more than 160 countries around the world
and feature iconic brands such as BIC Kids™, BIC FlexTM, BodyMark
by BICTM, Cello®, Djeep, Lucky Stationery, Rocketbook, Soleil®,
Tipp-Ex®, Us. TM, Wite-Out® and more. In 2020, BIC Net Sales were
1,627.9 million euros. The Company is listed on ""Euronext Paris","
is part of the SBF120 and CAC Mid 60 indexes and is recognized for
its commitment to sustainable development and Education. It
received an A- Leadership score from CDP. For more, visit
www.bic.com or follow us on LinkedIn, Instagram, Twitter, or
YouTube.
ABOUT J-PAL
The Abdul Latif Jameel Poverty Action Lab (J-PAL) is a global
research center working to reduce poverty by ensuring that policy
is informed by scientific evidence. Anchored by a network of over
260 affiliated professors at universities around the world, J-PAL
conducts randomized impact evaluations to answer critical questions
in the fight against poverty. J-PAL's network of seven regional
offices is hosted at leading universities in Africa, Europe, Latin
America & the Caribbean, the Middle East & North Africa,
North America, South Asia, and Southeast Asia.
ABOUT EXANE BNP PARIBAS
Exane BNP Paribas is a leading European equities business. We
offer a high-quality execution platform with full electronic
trading capability. Our Research product is renowned for its depth
and quality and is reinforced by experienced, top-ranked Sales
& Specialist Sales teams as well as a dedicated corporate
access service Exane BNPP Corporate Broking team is active in
market intelligence, liquidity agreements, share buybacks and
management of listed stakes.
1 Maximum amount2 The outperformance is the difference between
the purchase price and the average VWAP over the execution
period.
- BIC_2022 ESG Share BuyBack program_21JAN22
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