Description of the Lagardere SCA Share Buyback Program 2020-2021
May 06 2020 - 1:50PM
Business Wire
Regulatory News:
Lagardere SCA (Paris:MMB):
Pursuant to Article 241-2 of the AMF General Regulations
(Règlement Général de l’Autorité des marchés financiers) and
Article 2 of the Commission Delegated Regulation (EU) 2016/1052 of
8 March 2016, the purpose of this description is to present the
Company’s share buyback program approved by the General Partners
and the Shareholders of the Company on 5 May 2020.
1° - Objectives of 2020 -2021 share
buyback program
- to maintain a liquid market in the
Company’s shares via liquidity agreements that comply with a code
of conduct recognised by the AMF, entered into with independent
investment services providers;
- to reduce the share capital by cancelling
all or some of the shares purchased;
- to award free shares to employees and
officers of the Company and of entities or groups related to it
within the meaning of articles L. 225-197-1 et seq. of the French
Commercial Code;
- to set up any company or group savings
scheme (or similar plan) under the conditions provided for by law,
notably articles L. 3332-1 et seq. of the French Labour Code (Code
du travail), including by way of awarding the shares free of
consideration as part of the Company's employer contribution and/or
in replacement of the discount, in accordance with the applicable
laws and regulations;
- to award or transfer shares to employees as
part of a profit-sharing scheme;
- to allocate shares upon the exercise of
share options;
- to award shares to employees and corporate
officers of the Company and of entities or groups related to it for
any other purpose permitted by the applicable law and
regulations;
- to allocate shares upon the exercise of
rights attached to securities that give access, by any means
whatsoever, to the Company’s share capital;
- to hold the shares for subsequent exchange
or payment as consideration for external growth transactions, a
merger, demerger or asset contribution;
- and, more generally, to carry out any other
transaction permitted by the applicable laws and regulations and,
in particular, the market practices accepted by the AMF.
2° - Characteristics of 2020 -2021
share buyback program
Maximum amount
allocated to the program: EUR 500,000,000
Maximum percentage of
the share capital, maximum number and characteristics of the titles
which can be purchased:
10 % of the share capital, i.e., 13,113,328
shares based on the current share capital.
Considering the 2,177,263 shares held by the
Company as of 6 May 2020, a maximum of 10,936,065 shares (8.34 % of
the share capital) could be purchased, assuming that the Company
does not cancel or transfer any of these shares.
The shares may be purchased, sold or
otherwise transferred in one or several transactions at any time –
apart from during the blackout periods provided for in paragraphs
b) and c) of article 4.1 of the EU Commission Delegated Regulation
2016/1052 or during a public tender offer for the Company's shares
– on or off-market or over the counter, by any means permitted
under the applicable laws and regulations, including through block
purchases or sales and the use of derivatives.
Maximum unit purchase
price: EUR 40 (the Managing Partners having full powers to
adjust this amount to take into account the impact on the share
price of any corporate actions)
3° - Term of the share buyback
program
18 months as of the General Meeting, i.e.,
until 5 November 2021.
The present publication is available on the website of the
Company (www.lagardere.com) in the section Investor
Relations/Regulated Information.
LAGARDERE SCA
French partnership limited by shares (société en commandite par
actions) with a share capital of €799,913,044.60 Divided into
131,133,286 shares of €6.10 par value each Registered office: 4,
rue de Presbourg, 75016 Paris, France Telephone: + 33 (0)1 40 69 16
00 Registered with the Paris Trade and Companies Registry under
number 320 366 446 Website: www.lagardere.com
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200506005858/en/
Lagardere SCA
Lagardere (EU:MMB)
Historical Stock Chart
From Jun 2024 to Jul 2024
Lagardere (EU:MMB)
Historical Stock Chart
From Jul 2023 to Jul 2024